 | Alaska General Financial Power of Attorney Form |
The Alaska general financial power of attorney form is a document which allows an attorney in fact/agent the authority to execute certain transactions without specifications of any particular property and generally without any power limitation. This document in the state of Alaska will allow an agent to completely take over the property of the principal. If this is not the intention of the principal, this should be discussed with an attorney or someone who is knowledgeable about these documents. The principal should be aware that they may revoke this document at any time as long as they are competent to do so, in writing or by execution of an updated power of attorney document. This particular form only applies to all property and monetary funds but does not include healthcare decisions by the agent for the principal.
How To Write
Step 1 – Review Page 1 – Review page one of the document to better educate yourself with regard to what this means to the principal, agent and to understand the definition of terms as stated.
Step 2 – Page 2 – This page will ask for information with regard to the Principal, attorney in fact/agent and any successor agents in the event the initial agent becomes unable or unwilling to perform the duties as prescribed by the principal. Complete all blank lines on the page in the following order:
- V-Principal –
- Name of Principal
- Principal’s address
- City
- State
- VI – Attorney in Fact –
- Name of attorney in fact
- Address of attorney in fact
- City
- State
- The state in which the document is being drafted and is to be used
- VII -Successor attorney in fact
- Name of Successor attorney in fact
- Address of Successor attorney in fact
- City
- State
- The state in which the document is being drafted and is to be used
Step 3 – Page 3 – Review the following paragraphs:
- VIII – Terms and Conditions
- IX – Third Parties
- X – Compensation
- XII – Disclosure
- The rest of this document must be completed in the presence of a notary public
Step 4 – Once the principal, the attorney in fact and the successor attorney in fact are before a notary the following must be provided by all:
- Print the Principal’s name
- Enter the date dd/mm format of the signing of the document
- Principal’s signature
- AND
- The next paragraph must be read by the attorney in fact
- Print the name of the attorney in fact
- At the end of the paragraph, the attorney in fact, must provide a signature and date when the document is being signed
- AND
- If the principal has, in fact, selected a successor attorney in fact, in the event the original attorney in fact becomes unwilling or unable to carry out the duties as prescribed in the document;they must read the successor paragraph
- Print the successor’s name in the first line of the paragraph
- At the end of the paragraph, the successor must provide their signature and date that they are signing the document
Step 5 – The notary will then complete the next section along with the attorney in fact and the successor
- Once notarization is complete, the notary will hand the document back to the principal
- Make copies for the Principal the attorney in fact and the successor
- Some of the businesses you work with may also require a copy for their records ie: the bank you work with, utility companies etc.
