Puerto Rico Durable Power of Attorney For Limited Purpose of Executing Division orders and Transfer orders

State:
Multi-State
Control #:
US-OG-020
Format:
Word; 
Rich Text
Instant download

Description

This form is described in the title. If an agent/attorney in fact signs a division order for a third party, the disburser of production will most probably call for an original of this power of attorney to accompany the signed division order, or a copy of a recorded power of attorney accompany the division order.

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FAQ

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 power of attorney is a legal document that allows someone else to act on your behalf. Powers of attorney (POA) can be helpful to older people and others who want to choose a trusted person to act on their behalf when they cannot.

A power of attorney must be dated and signed by the principal or in the principal's conscious physical presence by another individual directed by the principal to sign the principal's name on the power of attorney and witnessed by two witnesses.

A Power Of Attorney Doesn't Address What Happens to Assets After Your Death. A power of attorney ends at your death, so it does not do anything to protect your wealth after you are gone or to facilitate the timely transfer of assets to loved ones.

31, § 4421a. A durable power of attorney is an instrument made by public deed for the administration of property and for any other matter, expressly containing a provision establishing that the same shall become valid and remain effective even after the principal becomes or is adjudicated incapacitated by a court.

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Puerto Rico Durable Power of Attorney For Limited Purpose of Executing Division orders and Transfer orders