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GENERAL DURABLE POWER OF ATTORNEY
STATE OF TENNESSEE
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NOTICE TO PRINCIPAL: THIS DOCUMENT GIVES THE PERSON YOU NAME (YOUR "AGENT")
BROAD POWERS TO HANDLE YOUR PROPERTY AND FINANCES. IT MAY GIVE YOUR AGENT THE
RIGHT TO ACCESS YOUR BANK ACCOUNTS, SELL YOUR PROPERTY, AND MAKE FINANCIAL
DECISIONS FOR YOU. THIS POWER OF ATTORNEY WILL CONTINUE TO BE EFFECTIVE EVEN
IF YOU BECOME DISABLED, INCAPACITATED, OR INCOMPETENT. YOU HAVE THE RIGHT TO
REVOKE THIS POWER OF ATTORNEY AT ANY TIME. YOU SHOULD SELECT SOMEONE YOU TRUST
IMPLICITLY TO BE YOUR AGENT. READ THIS DOCUMENT CAREFULLY BEFORE SIGNING.
ELDER PROTECTION NOTICE: If you are 70 years of age or older, you are an
"elderly adult" under TN Code § 39-15-501. Tennessee law protects you from
financial exploitation by your agent. If your agent misuses this Power of
Attorney, they may face criminal prosecution under TN Code § 39-15-502 and
civil liability. Report suspected abuse to Adult Protective Services at
1-888-APS-TENN (1-888-277-8366).
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I, [PRINCIPAL FULL NAME], currently residing at [ADDRESS], [CITY], Tennessee
[ZIP] (hereinafter referred to as "Principal"), hereby appoint:
[AGENT FULL NAME], residing at [ADDRESS], [CITY], [STATE] [ZIP]
(hereinafter referred to as "Agent"), to act as my true and lawful
Attorney-in-Fact, to act for me and in my name, place, and stead, and for my
use and benefit, regarding any and all of my property and affairs now or
hereafter owned or held by me, with full power to do any and all of the
following, each of which is hereby separately authorized and ratified:
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GRANT OF GENERAL POWERS
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Pursuant to Tenn. Code Ann. § 34-6-101 et seq., I grant my Agent the following
powers:
- REAL PROPERTY TRANSACTIONS. To buy, sell, exchange, rent, lease, mortgage,
convey, transfer, improve, manage, maintain, repair, or otherwise deal with
any real property now or hereafter owned by me, including the power to
execute deeds, mortgages, notes, and other instruments.
- TANGIBLE PERSONAL PROPERTY. To buy, sell, exchange, rent, lease, loan,
pledge, store, maintain, repair, improve, or otherwise deal with any
tangible personal property now or hereafter owned by me.
- STOCKS AND BONDS. To buy, sell, exchange, transfer, vote, or otherwise
deal with any stocks, bonds, securities, or other investment property now
or hereafter owned by me.
- COMMODITIES AND OPTIONS. To buy, sell, exchange, assign, or otherwise deal
with commodities, futures contracts, or options now or hereafter owned by
me.
- BANKS AND OTHER FINANCIAL INSTITUTIONS. To open, maintain, or close
accounts in any bank, savings and loan, credit union, or other financial
institution; to make deposits, withdrawals, or transfers; to borrow money
with or without security; and to execute all related documents.
- OPERATION OF BUSINESS. To continue, modify, or terminate any business or
business interest now or hereafter owned by me; to execute partnership
agreements, corporate resolutions, or other business documents.
- INSURANCE AND ANNUITIES. To purchase, sell, or surrender insurance
policies, annuities, or other contracts now or hereafter owned by me; to
pay premiums, collect proceeds, and exercise all rights under such
policies.
- ESTATES, TRUSTS, AND OTHER BENEFICIAL INTERESTS. To accept, reject,
disclaim, or otherwise deal with any inheritance, gift, trust, or other
beneficial interest to which I may be entitled; to serve as executor,
administrator, or trustee if appointed.
- CLAIMS AND LITIGATION. To assert, prosecute, defend, settle, or abandon
any claim or litigation in which I am or may become a party or have an
interest; to execute releases, settlements, and other documents.
- TAX MATTERS. To prepare, sign, and file tax returns; to receive tax
refunds; to represent me before the IRS or state tax authorities; to
exercise all tax elections available to me.
- RETIREMENT PLANS. To make contributions to, select investment options
for, make withdrawals from, or roll over any retirement plan, IRA, 401(k),
pension, or other retirement account now or hereafter owned by me.
- SOCIAL SECURITY AND GOVERNMENT BENEFITS. To apply for, receive, manage,
and spend any Social Security, Medicare, Medicaid, veterans' benefits, or
other government benefits to which I may be entitled.
- EMPLOYMENT AND COMPENSATION. To hire, fire, or supervise employees;
to enter into employment contracts; to receive compensation owed to me.
- PERSONAL AND FAMILY MAINTENANCE. To pay for my support, maintenance, and
medical care, and for the support, maintenance, and education of my
dependents; to pay for housing, food, clothing, and other necessities.
- BENEFITS FROM CIVIL MILITARY SERVICE. To apply for, receive, manage, and
spend any benefits from military service or civil service to which I may
be entitled.
- GIFTS. To make gifts to any person (including the Agent) in any amount
not exceeding the annual gift tax exclusion per recipient, provided such
gifts are consistent with my pattern of giving and are not detrimental to
my financial security.
- DELEGATION OF AUTHORITY. To delegate any or all of the powers granted
herein to one or more persons, provided such delegation is in writing.
- SAFE DEPOSIT BOXES. To open, access, maintain, or close any safe deposit
box now or hereafter rented by me; to add or remove contents therefrom.
- ALL OTHER MATTERS. To do any other act or thing not specifically
enumerated herein which the Agent deems necessary or appropriate in
connection with my property or affairs.
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DURABILITY PROVISION
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This Power of Attorney shall not be affected by my subsequent disability,
incapacity, or incompetence, pursuant to Tenn. Code Ann. § 34-6-102. This
Power of Attorney shall remain in full force and effect until revoked by me
in writing or upon my death.
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NOMINATION OF CONSERVATOR
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If a conservator or guardian of my estate or person is required to be
appointed by any court, I nominate my Agent, or if my Agent is unable or
unwilling to serve, then I nominate [ALTERNATE NAME], to serve as my
conservator or guardian. I authorize my Agent to nominate a successor
conservator or guardian if necessary.
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SUCCESSOR AGENT
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If my Agent dies, resigns, becomes incapacitated, or is otherwise unable or
unwilling to serve, I appoint the following Successor Agent(s):
First Successor Agent: [NAME], residing at [ADDRESS]
Second Successor Agent: [NAME], residing at [ADDRESS]
A Successor Agent shall have all the powers and authority granted to the
original Agent under this instrument.
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THIRD-PARTY RELIANCE
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Any third party receiving a copy of this Power of Attorney may rely upon it
without further inquiry. I agree to indemnify and hold harmless any third
party who acts in good faith reliance on this Power of Attorney.
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REVOCATION
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I reserve the right to revoke this Power of Attorney at any time by executing
and delivering a written revocation to my Agent. Revocation shall not affect
any action taken by my Agent in good faith prior to receipt of notice of
revocation.
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EXECUTION
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IN WITNESS WHEREOF, I have hereunto set my hand and affixed my signature on
this ___ day of _____________, 20___.
______________________________
Signature of Principal
[PRINCIPAL FULL NAME, printed]
[ADDRESS]
[CITY, STATE, ZIP]
[PHONE NUMBER]
[DATE OF BIRTH]
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NOTARY ACKNOWLEDGMENT
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STATE OF TENNESSEE
) ss.
COUNTY OF __________
Before me, the undersigned Notary Public, personally appeared [PRINCIPAL FULL
NAME], known to me (or proved to me on the basis of satisfactory evidence) to
be the person whose name is subscribed to this instrument, and acknowledged
to me that he/she executed the same for the purposes stated therein.
WITNESS my hand and official seal this ___ day of _____________, 20___.
______________________________
Notary Public Signature
[NOTARY NAME, printed]
My Commission Expires: _______________
Notary Public, State of Tennessee
County of _____________
(Notary Seal)
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ACCEPTANCE BY AGENT (OPTIONAL)
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I, [AGENT FULL NAME], accept the appointment as Agent under this Power of
Attorney. I understand that I have a fiduciary duty to act in the best
interests of the Principal, to keep the Principal's assets separate from my
own, and to maintain accurate records of all transactions.
I acknowledge that under TN Code § 39-15-501 and § 39-15-502, financial
exploitation of an elderly or vulnerable adult (including misuse of a Power
of Attorney) is a criminal offense punishable one classification higher than
theft. I understand that I may be subject to civil liability and criminal
prosecution if I misuse the authority granted in this document.
______________________________
Signature of Agent
[AGENT FULL NAME, printed]
Date: _______________
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IMPORTANT NOTICE
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This document should be stored in a safe place. Give copies to your Agent
and any financial institutions where the Agent may act on your behalf.
You may revoke this Power of Attorney at any time by executing a written
revocation and notifying your Agent and all relevant institutions.
This Power of Attorney becomes effective immediately upon signing.
This document is for informational purposes only and does not constitute
legal advice. For legal advice specific to your situation, legal advice, contact a licensed Tennessee attorney.
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