MAKE YOUR FREE Ohio Power of Attorney

 

 

IMPORTANT INFORMATION

 

This Power of Attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself. The meaning of authority over subjects listed in this Power of Attorney is explained in the Uniform Power of Attorney Act (sections 1337.21 to 1337.64 of the Revised Code).

 

This Power of Attorney does not authorize the agent to make healthcare decisions for you.

 

You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the Power of Attorney or the agent resigns or is unable to act for you.

 

Your agent is entitled to reasonable compensation unless you state otherwise in this Power of Attorney.

 

If you name more than one agent (coagents), they are not required to act together unless you include that requirement in this Power of Attorney.

 

If your agent is unable or unwilling to act for you, your Power of Attorney will end unless you have named a successor agent. You may also name a second successor agent.

 

This Power of Attorney becomes effective immediately unless you state otherwise.

 

ACTIONS REQUIRING EXPRESS AUTHORITY

Unless expressly authorized and initialed by me in the Special Instructions, this Power of Attorney does not grant authority to my agent to do any of the following:

1. Create a trust;

2. Amend, revoke, or terminate an inter vivos trust, even if specific authority to do so is granted to the agent in the trust agreement;

3. Make a gift;

4. Create or change rights of survivorship;

5. Create or change a beneficiary designation;

6. Delegate authority granted under the Power of Attorney;

7. Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan; and

8. Exercise fiduciary powers that the principal has authority to delegate.

 

CAUTION: Granting any of the above eight powers will give your agent the authority to take actions that could significantly reduce your property or change how your property is distributed at your death.

 

If you have questions about the Power of Attorney or the authority you are granting to your agent, you should seek legal advice before signing this form.

DESIGNATION OF AGENT

I, , residing at , , , hereby appoint Each Agent may act independently, without the consent of the other Agent. The Agents must act jointly, with the consent of the other Agent.

 

or if we become legally separated or divorced, If either Agent is unable to serve for any reason, the other Agent shall serve alone. If either Agent is unable to serve for any reason, I appoint , of , , , as my Successor Agent to serve alone. If either Agent is unable to serve for any reason or if we become legally separated or divorced, I appoint , of , , as my Successor Agent to serve alone. If both Agents are unable to serve (either together or independently) I appoint , , , to act as my Alternate Successor Agent to serve alone.

 

I hereby revoke any and all general powers of attorney that previously have been signed by me. I hereby revoke any and all special powers of attorney that previously have been signed by me. I hereby revoke any and all general powers of attorney and special powers of attorney that previously have been signed by me. However, the preceding sentence shall not have the effect of revoking any powers of attorney that are directly related to my healthcare that previously have been signed by me.

GRANT OF GENERAL AUTHORITY

I grant my Agent and any successor agent general authority to act for me with respect to the following subjects as defined in the Uniform Power of Attorney Act (sections 1337.21 to 1337.64 of the Revised Code):

 

(INITIAL each subject you want to include in the Agent's general authority. Document MUST be initialed.)

 

 

LIMITATION ON AGENT'S AUTHORITY

An Agent that is not my ancestor, spouse, or descendant MAY NOT use my property to benefit the Agent or a person to whom the agent owes an obligation of support unless I have included that authority in the Special Instructions.

 

RELIANCE OF THIS POWER OF ATTORNEY

Any person, including my agent, may rely upon the validity of this Power of Attorney or a copy of it unless that person knows it has terminated or is invalid.

 

 

COMPENSATION

 

EFFECTIVE DATE

This Power of Attorney shall become effective This Power of Attorney shall continue to be effective until or until I lack sufficient mental competence to understand and handle my financial and personal affairs or until I lack sufficient mental competence to understand and handle my financial and personal affairs. This Power of Attorney may be revoked by me at any time by providing written notice to my Agent.

 

Dated ____________________, ______, at , .

 

 

 

__________________________________

 

 

 

Witness Signature:	___________________________________

Name:

City:

State:

 

 

 

Witness Signature:	___________________________________

Name:

City:

State:

 

 

This document prepared by:

 

 

STATE OF ,

COUNTY OF , ss:

 

This document was acknowledged before me on ____________________ (Date), by (Name of Principal).

 

 

_________________________________

Notary Public

 

My Commission expires _____________

 

Notice to Person Executing Power of Attorney

 

A Power of Attorney is an important legal document. By signing the Power of Attorney, you are authorizing another person to act for you, the principal. Before you sign this Power of Attorney, you should know these important facts:

 

Your Agent (attorney-in-fact) has no duty to act unless you and your Agent agree otherwise in writing.

 

This document gives your Agent the powers to manage, dispose of, sell and convey your real and personal property, and to use your property as security if your Agent borrows money on your behalf, unless you provide otherwise in this Power of Attorney.

 

Your Agent will have the right to receive reasonable payment for services provided under this Power of Attorney unless you provide otherwise in this Power of Attorney.

 

The powers you give your Agent will continue to exist for your entire lifetime, unless you state that the Power of Attorney will last for a shorter period of time or unless you otherwise terminate the Power of Attorney. The powers you give your Agent in this Power of Attorney will continue to exist even if you can no longer make your own decisions respecting the management of your property, unless you provide otherwise in this Power of Attorney.

 

You can change or correct the terms of this Power of Attorney only by executing a new Power of Attorney, or by executing an amendment through the same formalities as an original. You have the right to revoke or terminate this Power of Attorney at any time, so long as you are competent.

 

This Power of Attorney must be dated and must be acknowledged before a notary public or signed by two witnesses. If the Power of Attorney is signed by two witnesses, the witnesses must be mentally competent and they must witness the principal's signing of the Power of Attorney or (2) the principal's signing or acknowledgment of his or her signature. A Power of Attorney that may affect real property should be acknowledged before a notary public so that it may easily be recorded.

 

You should read this Power of Attorney carefully. When effective, this Power of Attorney will give your Agent the right to deal with property that you now have or might acquire in the future. The Power of Attorney is important to you. If you do not understand the Power of Attorney, or any provision of it, then you should obtain the assistance of an attorney or other qualified person.

 

Notice to Person Accepting the Appointment as Attorney-in-Fact

 

By acting or agreeing to act as the Agent (attorney-in-fact) under this Power of Attorney, you assume the fiduciary and other legal responsibilities of an Agent. These responsibilities include:

 

1.	The legal duty to: act solely in the interest of the principal; act loyally, with care, competence, and diligence; and avoid conflicts of interest.

 

2.	The legal duty to keep a record of all transactions made on behalf of the principal, including the responsibility to produce receipts, ledgers and other records of all deposits, disbursements or other transactions involving the principal's assets or indebtedness.

 

3.	To cooperate with the principal's Agent for healthcare decisions, should the principal appoint such an Agent, in making decisions in accordance with the principal's desires or in the best interest of the principal if the principal's wishes are not known.

 

4.	The legal duty to preserve the principal's estate plan, if one exists, and the principal's desires for such plan to be preserved.

 

5.	The legal duty to keep the principal's property separate and distinct from any other property owned or controlled by you.

6.	The legal duty to terminate actions as Agent (Attorney-in-Fact) under this Power of Attorney upon the occurrence of any of the following:

a.	Principal's death;

b.	Revocation of the Power of Attorney of principal;

c.	The arrival of any date stated in the Power of Attorney, which states the termination of the Power of Attorney, if any; or

d.	No additional action is required under the Power of Attorney.

7.	If you are the spouse of the principal, the Power of Attorney terminates upon legal separation or dissolution of the marriage.

8.	You may be held responsible and liable for any intentional actions which violate or abuse your authority under this Power of Attorney as provided by the state and federal laws governing this Power of Attorney.

9.	You have the right to seek legal advice if you do not understand your duties as Agent or any provisions in the Power of Attorney.

You may not transfer the principal's property to yourself without full and adequate consideration or accept a gift of the principal's property unless this Power of Attorney specifically authorizes you to transfer property to yourself or accept a gift of the principal's property. If you transfer the principal's property to yourself without specific authorization in the Power of Attorney, you may be prosecuted for fraud and/or embezzlement. If the principal is 65 years of age or older at the time that the property is transferred to you without authority, you may also be prosecuted for elder abuse. In addition to criminal prosecution, you may be sued in civil court.

I have read the foregoing notice and I understand the legal and fiduciary duties that I assume by acting or agreeing to act as the Agent (attorney-in-fact) under the terms of this Power of Attorney.

 

Date:

 

Signed:

 

 

_________________________________