 | Texas Durable Financial Power of Attorney Form |
The Texas durable financial power of attorney form is a legal document that is prepared by a Principal, that would create a relationship between an Attorney In Fact/Agent to whom the Principal would authorize powers for the Agent to manage specific or all powers over their business and financials.
This document may become immediately available or the Principal may choose to have the document become effective only upon the disability, incapacity or if the Principal is no longer capable of making appropriate decisions for their estate.
Texas does not require that the document be filed unless, it’s being used to sell or refinance real property on behalf of the Principal. The document shall remain in effect, unless the Principal should elect to revoke the document.
How to Write
Step 1 – Parties – The parties must read the information at the top of the page. Enter:
- Principal’s name and address
- AND
- Appointed Agent’s name and address
Step 2 – Authorized Powers – In order that the Principal should authorize only the powers they wish to grant to the Agent:
- The Principal must initial the box(es) preceding each authorized power, leaving the other’s blank
- If all powers shall be authorized, one must only initial line N
Step 3 – Special Instructions –
- If the Principal would like to authorize the Agent to provide gifts, financial or material, initial the box next to the statement
- In the lines provided, the Principal may add or limit allowable authorizations
Step 4 – To Indicate When the Document will be Effective –
- The Principal must read the A and B statements
- Select the applicable selection
- Place an “X” crossing out the alternate selection
- If “B’ is selected, a physician must complete an examination to verify that the Principal is no longer capable of making their own financial decisions
Step 5 – Signature – To be signed in service of a notary:
- Principal shall review the statement provided
- Date the signature in dd/mm/yyyy format
- Principal’s signature
Step 6 – Notarization –
- The notary shall witness and record the signature
- The notary will complete the required acknowledgement information and affix the official seal (if any)
Step 7 – Information for Agent –
- The Principal must be certain to provide a copy of the Agent’s information for their records.
