Durable Power of Attorney
Executed by JOHN STANDRIDGE, Social Security number: 123-45-6789
I JOHN STANDRIDGE, residing at 123 Little Lane in Huntsville, Alabama 35804, hereby designate JANE STANDRIDGE, 123 Little Lane in Huntsville, Alabama 35804,, to serve as my agent/attorney in fact. The following terms and conditions apply until such time that it is revoked by me in writing, and are otherwise irrevocable, even in the event of my death or disability:
Authority to Act on my Behalf. I authorize the Agent holding Power of Attorney to act on my behalf, taking into foremost consideration my personal well-being.
Agent's Powers. The Agent is hereby given the power and authority to manage all of my personal and business affairs, and to act on my behalf in all legal matters, present and future.
Property Transactions. The Agent is specifically empowered to manage all of my properties, or interest in properties, including investments, sales, leasing, transfers, exchanges, mortgages, insurance, taxes, and any other dealings. The agent may collect debts on my behalf and also borrow funds and offer my property as collateral in any lending situation.
4. Banking. The Agent is empowered to conduct any and all bank, savings and loan, or credit union business on my behalf, including endorsing checks, depositing and withdrawing money, signing agreements, approving merges, consolidating assets or accounts, liquidating assets, transferring interests, investing, and exercising stock options. The Agent also is granted access to my safety deposit boxes as well the ability to add or remove documents therein. Additionally, the Agent is to serve as my proxy in any dealings regarding stocks, bonds, shares, and other investments.
5. Taxes. The Agent is empowered to prepare, sign, and file all income and business tax forms and related documentation as well as represent my interests to the Internal Revenue service.
6. Legal Proceedings. The Agent may appear on my behalf in any legal or administrative law proceedings as well as settle any claims or debts for which I am liable.
7. Business Dealings. The Agent is granted the authority over my business (es) and household employees, with the ability to hire and dismiss employees, contract workers, legal counsel, and others with whom I do business.
8. Restrictions. The Agent cannot execute or alter a will on my behalf, nor change beneficiaries on any insurance policies held by me. This Durable Power of Attorney Standridges not override any Medical Power of Attorney executed by me.
9. Liability. Unless found to have acted negligently, the Agent will not incur any liability for actions or lack of actions taken while exercising Power of Attorney.
10. Substitute Agent. If [name] is unable or unwilling to act as my Agent, I hereby appoint [name], residing at [address] in [city, state].
Contract Analysis: Durable Power of Attorney
Introduction
The contract under analysis in this work in writing is a 'Durable Power of Attorney' made by John Standridge to Jane Standridge. John Standridge has designed his wife, Jane Standridge to serve as his agent and has granted to her specific authority to act on his behalf and first among the responsibilities of Jane Standridge in acting on the behalf of John Standridge is to take his personal well-being into consideration.
I. Powers Granted to Jane Standridge by John Standridge
John Standridge has designed Jane Standridge as agent for Durable Power of Attorney and has specified that Jane Standridge is authorized to manage all of his personal and business affairs and has granted Jane Standridge power to act on his behalf in all legal matters both now and in the future.
II. Property Transactions
John Standridge has specified that Jane Standridge is vested with the power to manage all of his properties as well as any interest that he holds in properties. Included in the properties that John Standridge has vested Jane Standridge with the power of overseeing and managing are investments, any sales, lease, transfer, exchange, mortgaging and insuring of property, paying of property taxes and any other various and miscellaneous transactions. Jane Standridge is authorized by the Durable Power of Attorney to collect debts on behalf of John Standridge and has the authority to borrow funds against any property owned by John Standridge presenting that property as collateral against any loan.
III. Banking Powers
John Standridge has vested Jane Standridge with the authority and power to conduct banking, savings and loan or credit union business on his behalf. Included in these powers are endorsing of checks, making of deposits and withdrawal of money. Included are the signing of agreements as well...
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