This form is provided in the Texas Probate Code. It gives your attorney in fact (your agent) broad powers to make decisions regarding property, financial, business, insurance and other matters that remain in effect even if you are incapacitated.
A general power of attorney in Texas is a legal document that allows an individual, referred to as the principal, to designate another person, known as the agent or attorney-in-fact, to make decisions and take actions on their behalf. This authority typically extends to a wide range of matters, granting the agent the power to handle financial, legal, and other affairs specified within the document. In Texas, there are three common types of general power of attorney: 1. Statutory Durable Power of Attorney: This is the most common form of power of attorney in Texas. It remains effective even if the principal becomes incapacitated or mentally incompetent. It grants the agent the authority to manage the principal's financial matters, including banking transactions, real estate transactions, tax filings, and insurance matters. 2. Non-Durable Power of Attorney: Unlike a statutory durable power of attorney, a non-durable power of attorney ceases to have effect if the principal becomes incapacitated or mentally incompetent. It is often used for specific, time-bound transactions or temporary needs, such as a principal authorizing an agent to handle financial matters while they are out of the country. 3. Medical Power of Attorney: While not strictly considered a general power of attorney, a medical power of attorney is a related legal document that grants an agent the authority to make medical decisions on behalf of the principal. This is particularly important in situations where the principal is unable to communicate or make decisions regarding their healthcare. It is crucial to note that a general power of attorney can be customized to meet the specific needs and preferences of the principal. The document may include limitations, specify the duration of authority, and outline the scope of decision-making powers granted to the agent. Additionally, the appointment of a power of attorney in Texas requires the principal to be of sound mind and capable of understanding the implications and consequences of granting such authority. Seeking out legal advice is recommended to ensure compliance with Texas laws and to draft a power of attorney tailored to an individual's unique circumstances.
