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Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 42223
Experience:  30 years in civil, probate, real estate, elder law
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I was recently asked to sign a limited power of attorney

Customer Question

I was recently asked to sign a limited power of attorney after being in a auto accident with a family member. The text of the POA is as follows:
I, , (hereinafter "Principal"), a resident of
County, Georgia, do hereby constitute and appoint
my true and lawful attorney-in-fact (hereinafter "Agent")
for me and give such person the power(s) specified below to act in my name,
place, and stead in any way which I, myself, could do if I were personally
present with respect to the claims and causes of action resulting from a motor vehicle collision with and owner on May, 27 2016.
1. Insurance Transactions: To exercise or perform any act, power, duty,
right, or obligation, in regard to any contract of life, accident, health,
disability, liability, or other type of insurance or any combination of
insurance; and to procure new or additional contracts of insurance for me
and to designate the beneficiary of same.
2. Disputes and Proceedings: To commence, prosecute, discontinue, or
defend all actions or other legal proceedings touching my property, real or
personal, or any part thereof, or touching any matter in which I or my
property, real or personal, may be in any way concerned. To defend, settle,
adjust, make allowances, compound, submit to arbitration, and compromise
all accounts, reckonings, claims, and demands whatsoever that now are, 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 Agent shall
deem proper.
3. Hiring Representatives: 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 other
remunerations, as my Agent shall deem proper.
This is the text of the POA and they want me to notarize it.
I just have a couple of questions.
1. Will this Power of Attorney give the agent the power to sell or transfer my property real or personal?
2. Does this power of attorney give the agent any financial power such as to access, withdraw or deposit money into my bank accounts?
3. Does this Power of Attorney give the agent power to get life insurance on me?
I am a bit confused about this last question because of the insurance transactions clause being in there but then the first part saying powers are only in respects to the auto accident.
I live in Georgia and this power of attorney will be executed in Georgia.
Submitted: 1 year ago.
Category: Legal
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Ray here to help you today.

Let's go through these.

1. Will this Power of Attorney give the agent the power to sell or transfer my property real or personal? No not under these terms.

2. Does this power of attorney give the agent any financial power such as to access, withdraw or deposit money into my bank accounts?

It mentions allowing them to purchase policies, but doesn't define that they have electronic access to your account.Unless there is another authorization of funds then no it does not here.

3. Does this Power of Attorney give the agent power to get life insurance on me?

I would say yes--and to procure new or additional contracts of insurance for me
and to designate the beneficiary of same.

I am a bit confused about this last question because of the insurance transactions clause being in there but then the first part saying powers are only in respects to the auto accident.

I agree this is poorly worded, you can ask for a wording change or limitation--x out any part you don't agree with.--don't agree with this part at all." and to procure new or additional contracts of insurance for me and to designate the beneficiary of same. Line it out here this is too broad in my opinion and unneeded.

Thanks again for the chance to help you today.