Sometimes people are faced with particular challenges that force them to resort to such a legal instrument as a power of attorney. For instance, people residing in Virginia can use a Virginia durable power of attorney form if they need to legally assign someone to take care of their financial matters. In its essence, a power of attorney form or a proxy represents a juridical document that allows one individual to appoint another individual as their representative in terms of finances, business, and other money-involving affairs. It means that if a person is deemed physically and/or mentally incompetent to make crucial decisions concerning their property and personal savings, or if they are physically absent, they can choose a trustworthy agent who will deal with their assets in their name. The majority of people tend to select a family member or a long-time friend as their attorney-in-fact because such a person will have access to all monetary resources you have.
Yet, if you have any questions regarding any durable proxy section, it is highly recommended to consult with a lawyer specializing in such legal paper as a POA. Thanks to in-detail advice, you will become more familiar with the conditions and terms of creating a durable power of attorney and eliminate the possibility of making unfortunate mistakes.
Virginia power of attorney templates – consider several other powers of attorney common in Virginia.
Following the statutes of the state of Virginia – §64.2-1602 – every durable proxy, written by a local citizen, must comply with the discussed laws.
When it comes to the signing requirements for a Virginia durable POA (14 V.S.A. §3503), they outline the rules, which must be adhered to if a Virginia resident wants their power of attorney to become legally enforceable. Thus, in this U.S. state, a single witness and a state notary should be present during the POA signing. At this, a notary cannot act as a witness.
Filling out the Virginia Durable POA
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
- 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.
Other Virginia Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- CO durable power of attorney
- Florida durable power of attorney
- Georgia durable POA
- Illinois durable POA document
- Indiana durable power of attorney
- Kansas durable POA for financial matters
- Maryland durable POA form
- MA durable power of attorney
- Michigan durable power of attorney
- Missouri durable POA form
- NJ durable power of attorney
- NY durable power of attorney
- NC durable power of attorney
- Ohio durable POA for financial matters
- Oklahoma durable POA form
- Oregon durable power of attorney
- Pennsylvania durable POA form
- SC durable POA for financial matters
- Tennessee durable power of attorney
- Texas durable power of attorney
- WA State durable power of attorney