Simple Durable Power of Attorney
Simple Durable Power of Attorney
I. Introduction
This Durable Power of Attorney is created to ensure that the financial affairs of the Principal are managed by a trusted family member in the event that the Principal becomes unable to handle them due to dementia or other incapacitating conditions.
II. Principal and Agent
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Principal: John Doe
Address: 123 Maple Street, Springfield, IL 62701
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Agent: Jane Smith
Address: 456 Oak Avenue, Springfield, IL 62702
III. Grant of Authority
The Principal hereby grants the Agent the authority to act in the Principal’s name, place, and stead to manage the Principal’s financial affairs, including but not limited to the following:
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Managing bank accounts and other financial accounts
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Paying bills and expenses
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Handling real estate transactions
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Filing taxes
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Managing investments
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Applying for government benefits
IV. Durability
This Power of Attorney shall remain in effect even if the Principal becomes incapacitated. The Agent's authority to act on behalf of the Principal shall not be affected by the Principal's subsequent disability or incapacity.
V. Effective Date
This Power of Attorney shall become effective immediately upon execution and shall remain in effect until revoked by the Principal in writing or upon the Principal's death.
VI. Revocation
The Principal reserves the right to revoke this Power of Attorney at any time, provided that the revocation is in writing and delivered to the Agent. The revocation will not affect any actions taken by the Agent prior to the revocation.
VII. Compensation and Expenses
The Agent shall be entitled to reasonable compensation for services rendered under this Power of Attorney and shall be reimbursed for all reasonable expenses incurred while acting on behalf of the Principal.
VIII. Governing Law
This Power of Attorney shall be governed by and construed in accordance with the laws of the state of Illinois.
IX. Signatures
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Principal:
Date: August 20, 2050
Name: John Doe
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Agent:
Date: August 20, 2050
Name: Jane Smith
Notary Public:
On this day, August 20, 2050, before me, the undersigned Notary Public, personally appeared John Doe, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
Date: August 20, 2050
Name: [Your Name]
My Commission Expires: July 15, 2055
