Get the free Power of Attorney - PBGC Form 715

PGC Form 715 Power of Attorney (POA) Approved OMB 12120055 Expires 2/29/16 Pension Benefit Guaranty Corporation. P.O. Box 151750, Alexandria, Virginia 223151750 For assistance, call 18004007242 INSTRUCTIONS:

How to fill out power of attorney

How to fill out power of attorney:

1. Start by identifying the principal: The principal is the person who is appointing someone else to act on their behalf. Provide the full legal name and contact information of the principal.
2. Choose the agent: The agent is the person who will be granted the authority to make decisions and act on behalf of the principal. Ensure the agent is someone trustworthy and capable of handling the designated responsibilities.
3. Specify the powers granted: Determine the specific powers the principal wants to grant to the agent. These can include financial matters, property transactions, healthcare decisions, or general legal representation. Be clear and detailed when describing these powers.
4. Include any limitations or conditions: If there are any limitations or conditions to the powers granted, make sure to add them to the power of attorney. For example, the principal may want to restrict the agent from selling certain assets or make decisions only in specific circumstances.
5. Establish the duration: Decide on the duration of the power of attorney. It can be for a specific period, indefinitely until revoked, or contingent upon certain events or conditions.
6. Get the document notarized: It is important to have the power of attorney document notarized, as this ensures its authenticity. Locate a notary public and sign the document in their presence. Make sure to bring a valid form of identification.

Who needs power of attorney:

1. Individuals with advancing age: As people grow older, there may come a time when they are no longer able to handle their affairs independently. Having a power of attorney ensures that a trusted individual can make decisions on their behalf.
2. Those facing medical issues: If someone is diagnosed with a medical condition that might impair their decision-making abilities, it is essential to have a power of attorney in place to designate someone to act on their behalf.
3. Individuals planning for the future: Regardless of age or health condition, anyone can benefit from having a power of attorney. It allows for the seamless management of affairs if an unexpected situation arises, such as an accident, sudden illness, or overseas travel.

Remember, it is crucial to consult with an attorney or legal professional to ensure that the power of attorney document complies with all local laws and regulations.

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What is power of attorney?

A power of attorney is a legal document that allows a person to designate someone else to make financial or medical decisions on their behalf.

Who is required to file power of attorney?

Individuals who want to designate someone else to make decisions on their behalf or handle their affairs in certain situations are required to file power of attorney.

How to fill out power of attorney?

Power of attorney can be filled out by specifying the powers granted to the designated person, signing the document, and having it notarized.

What is the purpose of power of attorney?

The purpose of power of attorney is to give someone else the legal authority to make decisions on behalf of the person granting the power, especially in situations where the person is unable to make decisions themselves.

What information must be reported on power of attorney?

Power of attorney must include the names and contact information of both the person granting the power and the designated person, as well as the specific powers being granted.