Virginia Sample Letter regarding Durable Power of Attorney
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How to fill out Sample Letter Regarding Durable Power Of Attorney?
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FAQ
Virginia law treats a power of attorney as durable unless it specifically says it is not. The durable power of attorney allows the person you choose to step in and take care of your financial affairs. Without a power of attorney, no one can represent you unless a court appoints a conservator or guardian.
A durable power of attorney is one that either takes effect upon or lasts after the principal's incapacitation. This is different from a general power of attorney, which would terminate at this point.
For most people, the best option is to have a general durable power of attorney because it gives your agent broad powers that will remain in effect if you lose the ability to handle your own finances. An attorney can customize a general POA to limit powers even more?or add powers, Berkley says.
A Virginia durable power of attorney form provides a method by which a person (?principal?) can designate an individual of their choice (?agent?) to act on their behalf for financial-related matters. This would allow the agent to pay bills, sell and lease property, and act if they were the principal.
However, a general power of attorney only operates while you are still coherent and mentally capable. It automatically expires upon incapacity or death. A durable power of attorney remains operational upon incapacity, although it expires upon death.
While Virginia does not technically require you to get your POA notarized, notarization is very strongly recommended. Under Virginia law, when you sign your POA in the presence of a notary public, your signature is presumed to be genuine?meaning your POA is more ironclad.
In Virginia, all powers of attorney are durable, meaning they last until you die. Your durable power of attorney will end if: You revoke it. You can do this at any time as long as you're mentally competent.
