Texas Durable Power Of Attorney
Overall, a durable power of attorney (or DPOA) is a legal document that allows a trusted person to act on behalf of another person. Having issued a durable power of attorney, a person (principal) may choose an agent who will make financial, legal, and other decisions on behalf of a principal.
What is a distinction of the Durable Power of Attorney?
Unlike the standard power of attorney, the durable form has a force even if the principal becomes incapacitated. It is worth noting that the DPOA is a valuable paper on the ownership and disposal of real estate. Such a document guarantees that the agent will control all aspects regarding the property of the principal.
Texas DPOA Signing Requirements and Laws
A primary legal tool regulating different issues of Texas durable powers of attorney are the laws § 751.001-751.251 and § 752.001-752.115. According to Texas law, a durable power of attorney means a written or another record that meets the requirements of Section 751.0021 (a) or 751.0021 (b).
A mandatory requirement for completing the Texas DPOA is the principal's signature and the agent's signature. It is also necessary to notarize this document. Texas laws exclude the need for witness signatures.
Besides, the Texas durable document must be exclusively in writing. No one has the right to force either the agent or the principal to sign a paper under pressure and threats. The validity of the document is possible only by the mutual consent of the two parties.
Briefly, all the requirements for the registration of the Texas DPOA are as follows:
- Personal data of the principal and agent
- Signatures of two parties
- Notarization of the document
- Written version of the form
- Mutual consent of the two parties
Functions and Powers Of Agent
As a rule, the range of powers of an agent acting in the interests of the principal is extensive. The agent may perform both financial and legal functions. The principal, agreeing with the agent, independently specifies the range of the agent's powers.
The following are the main areas of decision-making by the agent:
- Real estate issues (transfer, receipt, sale)
- Financial reporting (expenses, income)
- Hiring or firing staff (accountant, lawyer, assistant)
- Banking operations
- Tax sphere
- State benefits
- Settlement of debts, claims, and disputes
However, principals may also specify certain powers that their agent does not have by the DPOA. So, the principals grant as many functions as they see fit.
Revocation of the Texas Durable Document
Texas laws also establish rules for revoking long-term power of attorney. In case of disagreements or abuse of authority by the agent, the principal may revoke the DPOA. In such a situation, apply by filling in all the necessary information. The document must specify the reason for revoking the form. Moreover, if the principal is incapacitated, a third person may deal with this issue if this person suspects the agent of fraudulent cases.
Steps To Fill Out the Texas DPOA
By performing the following steps, you will fill out the Texas durable document without any difficulties.
- Discuss the details with the agent
The first step is to find and assign an agent that you trust. The agent will solve many issues for the principal, so trust between the two parties is necessary. Secondly, the agent must understand what a long-term power of attorney is and how it functions.
- Define the scope of duties, rights, and powers
The principal independently determines the scope of the agent's powers and duties. The principal must indicate the agent's functions in the durable power of attorney in writing.
- Check the type of Texas Durable Form
When filling out the document, make sure that the POA is durable. Otherwise, if the principal is incapacitated, this document will not be valid.
- Sign the document
Check the correctness of the completed data, sign the document, and put the date. In Texas, this durable form must be notarized. Give a copy of the blanks to the agent and, if necessary, to family members. It is better to keep this document in a safe place.