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POWER OF ATTORNEY ATTORNEY-IN-FACT VERIFICATION Institutional Advisor Services General Instructions: To associate a power of attorney with a Trust Company of America (TCA) account, complete this form

How to fill out power of attorney

How to fill out power of attorney:

1. Gather all necessary information: Before filling out a power of attorney form, make sure you have all the required information such as the full legal names, addresses, and contact details of both the person granting power of attorney (known as the principal) and the person receiving power of attorney (known as the agent or attorney-in-fact). It's also important to understand the different types and scope of powers you wish to grant.
2. Choose the appropriate power of attorney form: There are various types of power of attorney forms available, each serving different purposes. Select the form that aligns with your specific needs. Common types include general power of attorney (provides broad powers to the agent), limited power of attorney (grants specific and restricted powers), and durable power of attorney (remains valid even if the principal becomes incapacitated).
3. Review and understand the form: Carefully read and comprehend all the provisions, conditions, and clauses mentioned in the power of attorney form. Ensure that it covers the specific powers and limitations you want to grant. If there are any unfamiliar terms or legal jargon, seek assistance from a legal professional.
4. Complete the necessary sections: Fill out all the required sections of the power of attorney form accurately and completely. This typically includes providing the names and addresses of the principal and agent, specifying the powers being granted, and indicating the effective date of the power of attorney. Some forms may also require witnesses or a notary public to be present during the signing.
5. Sign the document: Sign the power of attorney form in the presence of witnesses or a notary public, if required. It is important to follow the specific signing requirements outlined in the form, as failure to do so could render the document invalid.

Who needs power of attorney?

1. Individuals with medical concerns: If someone has a medical condition that may hinder their ability to make decisions, they may appoint a healthcare agent to make medical decisions on their behalf using a medical power of attorney.
2. Aging adults: As individuals age, they may want to designate a trusted family member or friend to handle their financial affairs, manage their assets, or make legal decisions on their behalf in case they become incapable of doing so themselves.
3. Business owners: Business owners may grant power of attorney to a trusted individual to manage their business affairs in their absence or in case they become incapacitated.
4. Individuals planning for the future: Some individuals may choose to create a power of attorney even if they are currently healthy. This is done as a precautionary measure, ensuring that a trusted person is in place to act on their behalf should the need arise.
5. Individuals with temporary incapacitation: Power of attorney can also be used in situations where an individual is temporarily unable to make decisions due to circumstances such as being out of the country or undergoing a major surgery.

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What is power of attorney?

Power of attorney is a legal document that allows someone to make decisions on behalf of another person.

Who is required to file power of attorney?

Anyone who wants to give someone else the authority to make decisions on their behalf may choose to file a power of attorney.

How to fill out power of attorney?

To fill out a power of attorney, you will need to specify the powers you are granting, choose an agent or attorney-in-fact, and sign the document in front of witnesses or a notary public.

What is the purpose of power of attorney?

The purpose of power of attorney is to designate someone to make decisions on your behalf if you are unable to do so yourself due to incapacity or other reasons.

What information must be reported on power of attorney?

The power of attorney must include the names of the parties involved, the scope of authority granted, and signatures from all parties involved.