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Get POWER OF ATTORNEY WORKSHEET - U.S. Coast Guard
Will be binding on you, so you should grant a power only to someone you trust and only to the extent that is absolutely necessary. If you have questions about the use or effect of a power of attorney, the legal assistance staff will be happy to assist you. Making a General Power of Attorney (GPOA) is an important action that has serious legal consequences. With a GPOA, your agent can (for example) rent or buy a house with your money, borrow money that you must repay, sell your car, sue someone.
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Worksheet FAQ
Access family finances — By providing your spouse with a power of attorney, you can ensure they have access to your bank accounts and financial information. Many financial institutions have their own power of attorney form they want customers to use.
A POA is a legally binding planning tool that gives one person the authority to act on another's behalf for legal or financial issues for a specified time. Conversations with your service member can help you better meet his or her needs.
General POA: A general POA allows you (the grantor) to give a broad range of powers to a trusted person (the grantee) to act on your behalf in areas such as banking transactions, business transactions, selling of real estate and personal property, and taxes.
The person named in a power of attorney to act on your behalf is commonly referred to as your "agent" or "attorney-in-fact." With a valid power of attorney, your agent can take any action permitted in the document.
A power of attorney can be executed by any person who is competent to enter into a contract. Principal/donor and agent/donee must be above the age of 18 years and sound mind. However, the married women can execute powers of attorney even if they are minors.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
A POA can be a person or organization appointed to control someone's legal or economic affairs. Military power of attorney is often used when a service member is deployed and has limited communication or access to technology. This might be property, medical, or financial affairs.
Q: WHAT IS A MILITARY POWER OF ATTORNEY? It is a power of attorney prepared by military legal assistance offices and must be notarized in ance with 10 U.S.C Section 1044(a), or other applicable State or Federal law.
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