Financial Power of Attorney Outline
Financial Power of Attorney Outline
I. Introduction
This Financial Power of Attorney is executed on June 5, 2050, by John Smith, currently residing at 123 Elm Street, Springfield, IL 62701, herein referred to as the "Principal". The Principal hereby designates Mary Smith, currently residing at 456 Oak Avenue, Springfield, IL 62702, herein referred to as the "Agent" or "Attorney-in-Fact", to act on their behalf as specified in this document.
II. Grant of Authority
The Principal grants the Agent full power and authority to manage, handle, and conduct all financial affairs pertaining to the following:
1. Bank and Financial Accounts: Including the authority to deposit, withdraw, and transfer funds.
2. Real Estate Transactions: Including buying, selling, leasing, and managing properties.
3. Investment and Securities Transactions: Including buying, selling, and managing stocks, bonds, and other investment instruments.
4. Tax Matters: Including filing, paying, and managing all tax obligations on behalf of the Principal.
5. Debt Management: Including paying bills, resolving disputes, and managing any outstanding loans or credit accounts.
III. Duration of Power
This Power of Attorney shall become effective immediately upon execution and shall remain in effect until revoked by the Principal or upon the Principal's death. The Principal reserves the right to revoke this Power of Attorney at any time by providing written notice to the Agent.
IV. Revocation
The Principal may revoke this Power of Attorney at any time by delivering a written notice of revocation to the Agent. Such revocation will be effective immediately upon the Agent's receipt of the notification.
V. Governing Law
This Power of Attorney is governed by the laws of the State of Illinois, and any disputes arising from this document shall be adjudicated under the jurisdiction of Illinois courts.
VI. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Power of Attorney on the date set forth above.
Principal: John Smith
Agent: Mary Smith
VII. Notarization
STATE OF Illinois
On this June 5, 2050, before me, [Your Name], the undersigned Notary Public, personally appeared John Smith, proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to this instrument, and acknowledged that they executed it.
Witness my hand and official seal.
Notary Public: [Your Name]
