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VIRGINIA
STATUTORY FORM 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 on this form is explained in the Uniform Power of Attorney Act.
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 the Special Instructions.
This form provides for designation of one agent. If you wish to name more than one agent you may name a coagent in the Special Instructions. Coagents are not required to act together unless you include that requirement in the Special Instructions.
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 in the Special Instructions.
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 SUCCESSOR AGENT
If the Agent is unable to serve for any reason, I appoint , of , , , as my alternate or Successor Agent, as the case may be to serve with the same powers and discretions.
If the Successor Agent is unable to server for any reason, I appoint , of , , , as my second Successor Agent, as the case may be to serve with the same powers and discretions.
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:
(INITIAL each subject you want to include in the agent's general authority.)
| ________ | Create, amend, revoke or terminate an inter vivos trust |
| ________ | Make a gift |
| ________ | Create or change rights of survivorship |
| ________ | Create or change a beneficiary designation |
| ________ | Delegate authority granted under the Power of Attorney |
| ________ | Waive the principal's right to be a beneficiary of a joint and survivor annuity |
| ________ | Exercise fiduciary powers that the principal has authority to delegate |
| ________ | Have authority over the content of an electronic communication as provided by § 64.2-123 |
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.
This Power of Attorney shall become effective This Power of Attorney shall continue 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.
RELIANCE ON 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.
This Power of Attorney is granted in, and shall be governed by the laws of the state of Virginia; however, I intend that this Power of Attorney be universally recognized and that it be universally admissible to recordation. In the event that I become a resident of another jurisdiction, or obtain property, including real property or any other property interest, in another jurisdiction, it remains my intention that the laws of Virginia shall continue to govern this Power of Attorney.
Dated ____________________, ______, at , .
__________________________________
COMMONWEALTH OF ,
CITY/COUNTY OF , to-wit:
The foregoing instrument was acknowledged before me on this _____ day of ____________________, ______ by .
_________________________________
Notary Public
| Notary registration number ____________ |
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. 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:
_________________________________
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It's fast and easy to give or get the authority you may need with a free Virginia Power of Attorney template from Rocket Lawyer:
This route is often much more affordable than hiring and working with your average law firm. If necessary, you may start this PoA on behalf of an elderly parent, a spouse, or another family member, and then have that person sign once you've drafted it. Please keep in mind that for a Power of Attorney to be valid, the principal must be an adult who is mentally competent when they sign. If the principal is already unable to make their own decisions, a conservatorship could be necessary. When dealing with such a situation, it would be a good idea for you to connect with an attorney .
.Every person over 18 should have a Power of Attorney. Although it's unpleasant to acknowledge, a time will likely come when you can no longer make your own legal decisions. There may even be moments when you're merely unavailable. Here are some typical occasions in which a PoA can be useful:
Regardless of whether your Virginia Power of Attorney is being made as a result of an emergency or as part of a forward-looking plan, witnesses and notarization often help to protect your agent if their authority is challenged.
There are a few different ways to classify Power of Attorney documents. They are primarily dependent on how long the powers are in effect, when they come into effect, and what they grant authority over. Most often, you may see them defined in four segments:
When creating your free Virginia Power of Attorney, you may decide to have the agent's power start on a selected day, immediately upon signing, or only at the point when you are no longer capable. The Power of Attorney may end either on a specific date or upon your death.
Virginia Power of Attorney forms are generally straightforward; however, you or your agent(s) could still have questions. The answer may depend on whom you reach out to, but often some lawyers will not even agree to review documents that they did not author. An easier approach might be via Rocket Lawyer attorney services. With a Premium membership, you have the ability to ask for a document review from an experienced attorney or send other legal questions related to your Power of Attorney. We are here for you.
The cost of finding and working with a traditional lawyer to create a Power of Attorney might total anywhere between two hundred and five hundred dollars, based on your location. Different from many other Power of Attorney template websites that you may encounter, Rocket Lawyer provides Premium membership holders up to a 40% discount when hiring a lawyer, so an attorney from our Rocket Lawyer attorney network can assess the situation and take action if you ever require assistance.
Attached alongside each Power of Attorney form, there will be a checklist of next steps you can take to finalize your document. Feel free to interact with your PoA in all of these ways: editing it, downloading it in PDF format or as a Word file, and/or signing it. Finally, you will need to provide a final copy of the signed document to your agent(s), financial institutions, and other impacted parties.
The specific requirements are different in each state; however, in Virginia, your document will need the signature of a notary. If your agent(s) will have the authority to engage in real estate transactions, the Power of Attorney must be notarized and recorded or filed with the county.
See Virginia Power of Attorney law: Title 64.2, Chapter 16
