Texas has separate power of attorney requirements for financial matters and for health care.
It can also enable someone you trust to handle your finances should you become disabled or incapacitated. This publication is provided “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.A power of attorney or POA can enable you to engage in financial transactions when you can't be present to sign documents. assumes no liability for the use or interpretation of information contained herein. Information provided by and through this website does not create any kind of attorney-client relationship with Dunnam & Dunnam or any of its attorneys and, furthermore, does not constitute and should not to be relied upon by you as any kind of legal advice or service by Dunnam & Dunnam or any of its attorneys.ĭunnam & Dunnam L.L.P. Dunnam & Dunnam LLP maintains this website to provide you with general information concerning itself and its attorneys, as well as to facilitate communications with persons and entities possibly desiring to establish an attorney-client relationship with a law firm or an attorney. Prior results do not guarantee a similar outcome.
#Texas durable power of attorney for finances free#
If you have questions about a durable power of attorney then, please contact us for a free consultation about it.Ĭopyright © Dunnam & Dunnam, L.L.P. Our board-certified estate planning and probate lawyer can help you create a valid and properly executed document. With a lawyer on your side, it will provide you peace of mind. Your durable power of attorney must be recognized by those third parties that rely upon it. Getting a lawyer to provide a durable power of attorney in Waco With this new Texas durable power of attorney statute, those days are behind us.
To read more about a third party’s reasons for refusing to honor a durable power of attorney, please read the statute by clicking here.īefore this law, financial institutions could come up with arbitrary reasons for refusing a valid durable power of attorney. If that third-party fails to timely provide a Private Reason Affidavit, the agent or principal can sue for an order requiring that the document be accepted, in addition to attorney’s fees and court costs. If that third-party refuses, it must give the agent a written Private Reason Affidavit, which is signed under penalty of perjury. There are eleven reasons that a third party can refuse to accept a durable power of attorney in Texas. Failure to follow this law forfeits the third party’s opportunity to refuse the durable power of attorney. And that third party’s request must be made timely. If the law of the jurisdiction in which the document was executed provides that the authority conferred on the agent is exercisable despite the principal’s subsequent incapacity, the power is considered a durable power of attorney under Texas law whether the term “power of attorney” is used.Ī third party has three choices when presented with a valid durable power of attorney: (1) to accept it (2) to request that the agent sign a certificate or (3) to ask the agent to provide an opinion of counsel. The principal or other adult signs it at the principal’s command in front of a notary. It includes the words: “This power of attorney is not affected by subsequent disability or incapacity of the principal” or “This power of attorney becomes effective on the disability or incapacity of the principal” or words similar to those phrases that show that the principal intends to confer authority to the agent notwithstanding the principal’s disability or incapacity andĤ.
It is signed by an adult or signed by another adult in the adult principal’s conscious presence and at the principal’s direction.ģ. It is in writing and names another person as an agent and grants the agent authority to act on behalf of the person signing a power of attorney.Ģ. Under the durable power of attorney statute in Texas, a durable power of attorney is correct when:ġ. What makes a valid power of attorney in Texas? A durable power of attorney is a paper that will enable you to designate someone that you trust to engage in particularized business, financial and legal transactions on your account.
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