 | Nevada Durable Financial Power of Attorney Form |
The Nevada durable financial power of attorney form is a document that makes it possible for the Principal to designate an Agent to oversee the duties required to carefully maintain the finances and property of the Principal. Once an Agent is selected, this document is completed, signed and in effect, the Agent will then be able to make decisions for the Principal, whether or not the Principal is still able to care for their own finances.
The Agent will not be able to make any medical decisions with regard to the Principal’s health care. The Agent must act as the Principal states in the document and in the best interest of the Principal at all times. The Principal should be very careful to select an Agent that they trust.
This document shall revoke any other powers previously created, unless otherwise stated by the Principal. This document must be notarized in order to be effective to any Agent. This document may be revoked at the discretion of the Principal by simply providing written notice, delivered to all Agents and Successor Agents.
How to Write
Step 1 – Lettered Statements –
- The Principal must download the document and read section one (A through K)
Step 2 – Establishment of Agent(s) –
- The Principal must enter their name into the table provided
- AND
- Enter the Selected Agent
- Agent’s Address
- Agent’s Telephone
- AND
- The Principal may select an Alternate Agent who’s powers may be implemented in the event the initial agent is unable to serve:
- Alternate Agent’s Name
- Alternate’s Telephone
Step 3 – Titled Sections – The Principal must read the following:
- Designation of Agent
- Designation of Alternate Agent
- Other Powers
- Nomination of Guardian
- Grant of General Authority
Step 4 – Granting of Powers – The Principal must read all of the powers and initial those powers to be implemented as follows: (to deny any of the powers simply place N/A in the space instead of initialing)
- Real Property Power of Attorney
- Tangible Personal Property
- Stocks and Bonds
- Commodities and Options
- Banks and Other Financial Institutions
- Safe Deposit Boxes
- Operation of Entity or Business
- Insurance and Annuities
- Estates, Trusts and Other Beneficial Interests
- Legal Affairs, Claims and Litigation
- Personal Maintenance
- Benefits from Governmental Programs or Civil or Military Service
- Retirement Plans
- Taxes
- All Preceding Subject (Should the Principal choose to grant all of the powers above, check only this selection)
Step 5 – Grant of Specific Powers – Initial ONLY the powers that the Principal believes to be important. Remember any selected powers in this section must be carefully considered):
- Create, amend, revoke or terminate an inter vivos, family, living, irrevocable or revocable trust
- Make a gift, subject to the limitations of NRS and any special instructions in this Power of Attorney
- Create or change rights of survivorship
- Create or change a beneficiary designation
- Waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan
- Exercise fiduciary powers that the principal has authority to delegate
- Disclaim or refuse an interest in property, including a power of appointment
Step 6 – Limitation On Agent’s Authority –
- Anyone who is not a spouse of the Principal may not benefit from the Agent or any person who the Agent owes an obligation of support unless the Principal specifies it in “Special Instructions”
Step 7 – Special Instructions or Other Additional Authority to be Granted to the Agent –
- Initial any special instructions the Principal would choose to add in the box provided:
- Durable
- Springing Powers
- Power of Attorney become effective on the following date (enter the date in mm/dd/yyyy format)
- Power of Attorney end on the following date (Enter the ending date of the powers document)
- Power of Attorney shall remain in force until revoked by the Principal or until their death
Step 8 – Additional Titled Sections – The Principal must read the following:
- Third Party Protection
- Release of Information
Step 9 – Signature and Acknowledgement – The Principal must provide signature before a Notary – Enter the following:
- Principal’s Signature
- Date of Signature in mm/dd/yyyy format
Notarization –
- The Notary Public will have witnessed the Principal’s signature and will complete the remaining section, which will acknowledge the document on behalf of the Principal.
