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RayAnswers, Attorney
Category: Estate Law
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Experience:  Texas lawyer for 30 years in Estate law
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Are the power attorney forms from staple leagal

Customer Question

are the power attorney forms for finance from staple leagal
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.

Hi and welcome to JA. Ray here to help .They are legal and you can use this one if you want to save the cost and trouble here.Complete it and execute it and you are done.

NEW JERSEY GENERAL DURABLE POWEROF ATTORNEY

THE POWERS YOU GRANT BELOW ARE EFFECTIVE
EVEN IF YOU BECOME DISABLED OR INCOMPETENT

NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY AREEXPLAINED IN THE UNIFORM STATUTORY FORM POWER OF ATTORNEY ACT. IF YOU HAVE ANYQUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THISDOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CAREDECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DOSO. THIS POWER OF ATTORNEY IS EFFECTIVE IMMEDIATELY AND WILL CONTINUE TOBE EFFECTIVE EVEN IF YOU BECOME DISABLED, INCAPACITATED, OR INCOMPETENT.

I ____________________________________________________________________________
_____________________________________________ [insert your name and address]appoint _____________________________________________ [insert the name andaddress of the person appointed] as my Agent (attorney-in-fact) to act for mein any lawful way with respect to the following initialed subjects:

TO GRANT ALL OF THE FOLLOWING POWERS, INITIAL THE LINE IN FRONT OF (N) ANDIGNORE THE LINES IN FRONT OF THE OTHER POWERS.

TO GRANT ONE OR MORE, BUT FEWER THAN ALL, OF THE FOLLOWING POWERS, INITIAL THELINE IN FRONT OF EACH POWER YOU ARE GRANTING.

TO WITHHOLD A POWER, DO NOT INITIAL THE LINE IN FRONT OF IT. YOU MAY, BUT NEEDNOT, CROSS OUT EACH POWER WITHHELD.

Note: If you initial Item A or Item B, which follow, a notarized signature will berequired on behalf of the Principal.

INITIAL

_______ (A) Real property transactions. To lease, sell, mortgage,purchase, exchange, and acquire, and to agree, bargain, and contract for thelease, sale, purchase, exchange, and acquisition of, and to accept, take,receive, and possess any interest in real property whatsoever, on such termsand conditions, and under such covenants, as my Agent shall deem proper; and tomaintain, repair, tear down, alter, rebuild, improve manage, insure, move,rent, lease, sell, convey, subject to liens, mortgages, and security deeds, andin any way or manner deal with all or any part of any interest in real propertywhatsoever, including specifically, but without limitation, real property lyingand being situated in the State of New Jersey, under such terms and conditions,and under such covenants, as my Agent shall deem proper and may for alldeferred payments accept purchase money notes payable to me and secured bymortgages or deeds to secure debt, and may from time to time collect and cancelany of said notes, mortgages, security interests, or deeds to secure debt.

_______ (B) Tangible personal property transactions. To lease,sell, mortgage, purchase, exchange, and acquire, and to agree, bargain, andcontract for the lease, sale, purchase, exchange, and acquisition of, and toaccept, take, receive, and possess any personal property whatsoever, tangibleor intangible, or interest thereto, on such terms and conditions, and undersuch covenants, as my Agent shall deem proper; and to maintain, repair,improve, manage, insure, rent, lease, sell, convey, subject to liens ormortgages, or to take any other security interests in said property which arerecognized under the Uniform Commercial Code as adopted at that time under thelaws of the State of New Jersey or any applicable state, or otherwisehypothecate (pledge), and in any way or manner deal with all or any part of anyreal or personal property whatsoever, tangible or intangible, or any interesttherein, that I own at the time of execution or may thereafter acquire, under suchterms and conditions, and under such covenants, as my Agent shall deem proper.

_______(C) Stock and bond transactions. To purchase, sell,exchange, surrender, assign, redeem, vote at any meeting, or otherwise transferany and all shares of stock, bonds, or other securities in any business,association, corporation, partnership, or other legal entity, whether privateor public, now or hereafter belonging to me.

_______(D) Commodity and option transactions. To organize or continueand conduct any business which term includes, without limitation, any farming,manufacturing, service, mining, retailing or other type of business operationin any form, whether as a proprietorship, joint venture, partnership,corporation, trust or other legal entity; operate, buy, sell, expand, contract,terminate or liquidate any business; direct, control, supervise, manage orparticipate in the operation of any business and engage, compensate anddischarge business managers, employees, agents, attorneys, accountants and consultants;and, in general, exercise all powers with respect to business interests andoperations which the principal could if present and under no disability.

_______ (E) Banking and other financial institution transactions. To make, receive, sign, endorse, execute, acknowledge, deliver and possesschecks, drafts, bills of exchange, letters of credit, notes, stockcertificates, withdrawal receipts and deposit instruments relating to accountsor deposits in, or certificates of deposit of banks, savings and loans, creditunions, or other institutions or associations. To pay all sums of money,at any time or times, that may hereafter be owing by me upon any account, billof exchange, check, draft, purchase, contract, note, or trade acceptance made,executed, endorsed, accepted, and delivered by me or for me in my name, by myAgent. To borrow from time to time such sums of money as my Agent maydeem proper and execute promissory notes, security deeds or agreements,financing statements, or other security instruments in such form as the lendermay request and renew said notes and security instruments from time to time inwhole or in part. To have free access at any time or times to any safedeposit box or vault to which I might have access.

_______ (F) Business operating transactions. To conduct, engagein, and otherwise transact the affairs of any and all lawful business venturesof whatever nature or kind that I may now or hereafter be involved in.

_______ (G) Insurance and annuity transactions. To exercise orperform any act, power, duty, right, or obligation, in regard to any contractof life, accident, health, disability, liability, or other type of insurance orany combination of insurance; and to procure new or additional contracts ofinsurance for me and to designate the beneficiary of same; provided, however,that my Agent cannot designate himself or herself as beneficiary of any suchinsurance contracts.

_______ (H) Estate, trust, and other beneficiary transactions. Toaccept, receipt for, exercise, release, reject, renounce, assign, disclaim,demand, sue for, claim and recover any legacy, bequest, devise, gift or otherproperty interest or payment due or payable to or for the principal; assert anyinterest in and exercise any power over any trust, estate or property subjectto fiduciary control; establish a revocable trust solely for the benefit of theprincipal that terminates at the death of the principal and is thendistributable to the legal representative of the estate of the principal; and,in general, exercise all powers with respect to estates and trusts which theprincipal could exercise if present and under no disability; provided, however,that the Agent may not make or change a will and may not revoke or amend atrust revocable or amendable by the principal or require the trustee of anytrust for the benefit of the principal to pay income or principal to the Agentunless specific authority to that end is given.

_______ (I) Claims and litigation. To commence, prosecute,discontinue, or defend all actions or other legal proceedings touching myproperty, real or personal, or any part thereof, or touching any matter inwhich I or my property, real or personal, may be in any way concerned. Todefend, settle, adjust, make allowances, compound, submit to arbitration, andcompromise all accounts, reckonings, claims, and demands whatsoever that noware, or hereafter shall be, pending between me and any person, firm,corporation, or other legal entity, in such manner and in all respects as my Agentshall deem proper.

_______ (J) Personal and family maintenance. To hire accountants,attorneys at law, consultants, clerks, physicians, nurses, agents, servants,workmen, and others and to remove them, and to appoint others in their place,and to pay and allow the persons so employed such salaries, wages, or otherremunerations, as my Agent shall deem proper.

_______ (K) Benefits from Social Security, Medicare, Medicaid, or othergovernmental programs, or military service. To prepare, sign and fileany claim or application for Social Security, unemployment or military servicebenefits; sue for, settle or abandon any claims to any benefit or assistanceunder any federal, state, local or foreign statute or regulation; control,deposit to any account, collect, receipt for, and take title to and hold allbenefits under any Social Security, unemployment, military service or otherstate, federal, local or foreign statute or regulation; and, in general,exercise all powers with respect to Social Security, unemployment, militaryservice, and governmental benefits, including but not limited to Medicare andMedicaid, which the principal could exercise if present and under nodisability.

_______ (L) Retirement plan transactions. To contribute to,withdraw from and deposit funds in any type of retirement plan (which termincludes, without limitation, any tax qualified or nonqualified pension, profitsharing, stock bonus, employee savings and other retirement plan, individualretirement account, deferred compensation plan and any other type of employeebenefit plan); select and change payment options for the principal under anyretirement plan; make rollover contributions from any retirement plan to otherretirement plans or individual retirement accounts; exercise all investmentpowers available under any type of self-directed retirement plan; and, ingeneral, exercise all powers with respect to retirement plans and retirementplan account balances which the principal could if present and under nodisability.

_______ (M) Tax matters. To prepare, to make elections, to executeand to file all tax, social security, unemployment insurance, and informational returns required by the laws of theUnited States, or of any state or subdivision thereof, or of any foreign government;to prepare, to execute, and to file all other papers and instruments which theAgent shall think to be desirable or necessary for safeguarding of me againstexcess or illegal taxation or against penalties imposed for claimed violationof any law or other governmental regulation; and to pay, to compromise, or tocontest or to apply for refunds in connection with any taxes or assessments forwhich I am or may be liable.

_______ (N) ALL OF THE POWERS LISTED ABOVE. YOU NEED NOT INITIAL ANYOTHER LINES IF YOU INITIAL LINE (N).

SPECIAL INSTRUCTIONS:

ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS LIMITING OR EXTENDINGTHE POWERS GRANTED TO YOUR AGENT.

________________________________________________________________

________________________________________________________________

________________________________________________________________

________________________________________________________________

________________________________________________________________

________________________________________________________________

________________________________________________________________

THISPOWER OF ATTORNEY IS EFFECTIVE IMMEDIATELY AND WILL CONTINUE UNTIL IT ISREVOKED.

THIS POWER OF ATTORNEY SHALL BE CONSTRUED AS A GENERAL DURABLE POWER OFATTORNEY AND SHALL CONTINUE TO BE EFFECTIVE EVEN IF I BECOME DISABLED,INCAPACITATED, OR INCOMPETENT.

(YOURAGENT WILL HAVE AUTHORITY TO EMPLOY OTHER PERSONS AS NECESSARY TO ENABLE THEAGENT TO PROPERLY EXERCISE THE POWERS GRANTED IN THIS FORM, BUT YOUR AGENT WILLHAVE TO MAKE ALL DISCRETIONARY DECISIONS. IF YOU WANT TO GIVE YOUR AGENT THERIGHT TO DELEGATE DISCRETIONARY DECISION-MAKING POWERS TO OTHERS, YOU SHOULDKEEP THE NEXT SENTENCE, OTHERWISE IT SHOULD BE STRICKEN.)

Authority to Delegate. My Agent shall have the right by writteninstrument to delegate any or all of the foregoing powers involvingdiscretionary decision-making to any person or persons whom my Agent mayselect, but such delegation may be amended or revoked by any agent (includingany successor) named by me who is acting under this power of attorney at thetime of reference.

(YOUR AGENT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL REASONABLE EXPENSESINCURRED IN ACTING UNDER THIS POWER OF ATTORNEY. STRIKE OUT THE NEXT SENTENCEIF YOU DO NOT WANT YOUR AGENT TO ALSO BE ENTITLED TO REASONABLE COMPENSATIONFOR SERVICES AS AGENT.)

Right to Compensation. My Agent shall be entitled to reasonablecompensation for services rendered as agent under this power of attorney.

(IF YOU WISH TO NAME SUCCESSOR AGENTS, INSERT THE NAME(S) AND ADDRESS(ES) OFSUCH SUCCESSOR(S) IN THE FOLLOWING PARAGRAPH.)

Successor Agent. If any Agent named by me shall die, becomeincompetent, resign or refuse to accept the office of Agent, I name thefollowing (each to act alone and successively, in the order named) assuccessor(s) to such Agent:

________________________________________________________________________

________________________________________________________________________

Choice ofLaw. THIS POWER OF ATTORNEY WILL BE GOVERNED BY THE LAWS OF THESTATE OF NEW JERSEY WITHOUT REGARD FORCONFLICTS OF LAWS PRINCIPLES. IT WAS EXECUTED IN THE STATE OF NEW JERSEY AND ISINTENDED TO BE VALID IN ALL JURISDICTIONS OF THE UNITED STATES OF AMERICA AND ALLFOREIGN NATIONS.

I amfully informed as to all thecontents of this form and understand the full import of this grant of powers tomy Agent.

I agree that any third party who receives a copy of this document may act underit. Revocation of the power of attorney is not effective as to a third partyuntil the third party learns of the revocation. I agree to indemnify the thirdparty for any claims that arise against the third party because of reliance onthis power of attorney.

Signed this _______ day of _______________, 20____

______________________________
[Your Signature]

_______________________________
[Your Social Security Number]

CERTIFICATE OF ACKNOWLEDGMENT OF NOTARY PUBLIC

STATE OF NEW JERSEY
COUNTY OF ________________

This document was acknowledged before me on _______________ [Date] by ________________________________________________ [name of principal].

[Notary Seal, if any]:

_______________________________
(Signature of Notarial Officer)

Notary Public for the State of New Jersey

My commission expires: ___________________

ACKNOWLEDGMENT OF AGENT

BYACCEPTING OR ACTING UNDER THE APPOINTMENT, THE AGENT ASSUMES THE FIDUCIARY ANDOTHER LEGAL RESPONSIBILITIES OF AN AGENT.

________________________________________________
[Typed or Printed Name of Agent]

________________________________________________
[Signature of Agent]

Expert:  RayAnswers replied 1 year ago.

I appreciate the chance to help you tonight.Thanks again.

I also wish you a happy new year.

Expert:  RayAnswers replied 1 year ago.

Powers of attorney have long existed under New Jersey law. A power of attorney is used to designate an agent to act on behalf of an individual during incapacity. A power of attorney is a written document by which one person, as principal, appoints another person as his or her agent, or attorney-in-fact, and confers upon that agent the authority to act in place of the principal for the purposes stated in the instrument.

Here a power of attorney may be classified as "springing" or "durable". A "springing" power of attorney empowers the agent to act only upon the disability of the principal, while a "durable" power of attorney becomes effective immediately upon executing the instrument and remains in force despite the principal''s incapacity. The person executing a power of attorney must have the requisite capacity to understand the nature and significance of his act at the time he or she signs the document. The one above is springing, only comes into effect if you are disabled.

Expert:  RayAnswers replied 1 year ago.

Creating a power of attorney is relatively simple. There are only two requirements: (1) The power of attorney must be in writing, and (2) the power of attorney must state that the powers conveyed are not affected by (or will become effective upon) the subsequent disability, incapacity or incompetence of the principal.

Expert:  RayAnswers replied 1 year ago.

Thanks again.

Customer: replied 1 year ago.
the one you sent me is that a durable one because it would need to stay in effect for all times. We fill it out and have a notary stamp it? Do I still need a letter written stating this is what they want.
Expert:  RayAnswers replied 1 year ago.

No letter is necessary.The general power of attorney is valid here once completed and executed.Just make sure you check off the powers you want--each paragraph has a check off box beside it.

Thanks again.

Expert:  RayAnswers replied 1 year ago.

If you can leave a positive rating it is always much appreciated.Take care and good luck here.