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.
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
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
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
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.