Of course, not many residents of the Virginia State are aware of the nuances of drawing up a durable power of attorney. To help them out, we decided to offer top-notch samples of this type of proxy for free. Our high-quality templates are easy to download, as they are also customizable and presented in all popular formats of electronic documents. Thus, you can open a Virginia durable POA form with the use of Microsoft Word, OpenOffice, and any PDF reader.
Name the Participants of the Agreement
Before specifying their personal and contact details, the principal – the creator of a proxy – must get familiar with the all the sections of this legal paper. After that, the POA owner is allowed to enter such information about them as their legal name, complete address of residence (city and street included).
When the declarant has submitted their data, they should appoint a trusted and responsible individual as their private attorney. They must indicate the full name of the chosen agent, as well as their full mailing address. It is also required to name the state where this juridical document will be applied.
In some cases, a primary attorney-in-fact becomes unable or unwilling to perform all the duties designated to them, so it would be better to allocate one or two successor agents. Certainly, their legal names and complete residential addresses must be specified as well.
It is typical to assign some compensation to your selected private attorney for their help. However, it is all at the grantor’s option.
Define the Area of the Authority Provided
A Virginia durable power of attorney form lets one Virginia citizen designate another person to deal with their financial matters. So, now it is time to talk about what money-related aspects of your life the selected attorney-in-fact will control. They are as follows:
- Bank accounts
- Safety deposit box
- Lending and borrowing funds
- Money investments
- Social assistance grants
- Retirement benefit plan
- Insurance
- Taxes
- Movable assets
- Legal counseling and proceedings
- Philanthropy and gifts, etc.
Besides that, the owner of such a legal instrument can set certain limitations or, on the contrary, expand the scope of the powers granted to their private attorney. However, it is crucial to remember that, although a durable proxy remains legally recognized upon the principal’s incapacitation, it does terminate with their death.
Sign and Notarize the Power of Attorney
All the participants of the agreement must sign it before a notary public. Thus, the declarant, the primary agents, and successor private attorney(s) should all provide the following:
- Their printed name
- Their signature
- The date of their signature
When the parties have signed the proxy, it is time for a state notary to fill out the form’s remainder – the “Notary Acknowledgement” section. Hence, the notary must verify this juridical document with the help of their signature and seal.
Besides notarization, your durable proxy in Virginia requires the witness attestation. It implies that the selected witness will get acquainted with the paperwork and submit their full name and signature after doing so.