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Durable Power of Attorney
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Durable power of attorney—General forms.


I, _________, of _________ in the county of _________, state of _________, do constitute and appoint _________, of _________, and _________ of _________, or either of them, to be my lawful attorneys with full power in my name and stead and on my behalf and with full power to substitute at any time or times for any of the purposes described below one or more attorneys and to revoke the appointment of any attorney substituted and to do the following:
1 To manage my affairs, handle my investments, arrange for the investment, reinvestment and disposition of funds, exercise all rights with respect to my investments, accept remittances of income and disburse them, including authority to open bank accounts in my name and to endorse checks for deposit in them or in any bank where I may at any time have money on deposit and sign checks covering withdrawals from them;
2 To endorse and deliver certificates for transfer of bonds or other securities to be sold for my account and receive the proceeds of such sale;
3 To sign, execute, acknowledge and deliver on my behalf any deed of transfer or conveyance covering personal property or real estate wherever situated (including transfers or conveyances to any trust established by me), any discharge or release of mortgage held by me on real estate or any other instrument in writing;
4 To negotiate and execute leases of any property, real or personal, which I may own, for terms that may extend beyond the duration of this power and to provide for the proper care and maintenance of such property and pay expenses incurred;
5 To subdivide, partition, improve, alter, repair, adjust boundaries of, manage, maintain and otherwise deal with any real estate held as trust property, including power to demolish any building in whole or in part and to erect buildings;
6 To enter into a lease or arrangement for exploration and removal of minerals or other natural resources or enter into a pooling or unitization agreement;
7 To hold securities in bearer form or in the name of a nominee or nominees and to hold real estate in the name of a nominee or nominees;
8 To continue or participate in the operation of any business or other enterprise;
9 To borrow money from time to time in my name, and to give promissory notes or other obligations, and to deposit as collateral, pledge as security for the payment of or mortgage any or all my securities or other property of whatever nature;
10 To have access to any and all safe deposit boxes of which I am now or may become possessed, and to remove from them any securities, papers or other articles;
11 To make all tax returns and pay all taxes required by law, including federal and state returns, and to file all claims for abatement, refund or other papers relating to them;
12 To demand, collect, sue for, receive and receipt for any money, debts, or property of any kind, now or later payable, due or deliverable to me, to pay or contest claims against me, to settle claims by compromise, arbitration or otherwise and to release claims;
13 To employ as investment counsel, custodians, brokers, accountants, appraisers, attorneys-at-law or other agents such persons, firms or organizations, including any of my attorneys and any firm of which any of my attorneys may be a member or employee, as deemed necessary or desirable, and to pay such persons, firms or organizations reasonable compensation and to determine whether or not to act on the advice of any agent without liability for acting or failing to act;
14 To expend or distribute income or principal of my estate for the support, education, care or benefit of me and my dependents;
15 To make gifts to any one or more of my spouse and my descendants (if any) of whatever degree (including any one or more of my attorneys who is a spouse or descendant of mine) in amounts not exceeding $_____ annually with respect to any one of them and gifts to charity in amounts not exceeding _________ percent of my federal adjusted gross income in any one year;
16 To renounce and disclaim any interest otherwise passing to me by testate or intestate succession or by inter vivos transfer; and
17 To exercise my rights to elect options and change beneficiaries under insurance and annuity policies and to surrender the policies for their cash value.
In general I give to my attorneys, or either of them, full power to act in the management and disposition of all my estate, affairs and property of every kind and wherever located in such manner and with such authority as I myself might exercise if personally present.
This power of attorney shall be binding on me and my heirs, executors and administrators and shall remain in force up to the time of the receipt by my attorneys of a written revocation signed by me.
This power of attorney shall not be affected by my subsequent disability or incapacity.
[Alternative provision for springing power:
This power of attorney shall become effective upon my disability or incapacity. I shall be deemed disabled or incapacitated upon the election by my attorneys to accept the certificate of a physician (who, in their opinion, is qualified) which states that the physician has examined me and that I am incapacitated mentally or physically and am therefore incapable of attending to my business affairs.]
In witness, etc.

 

 



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