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A Texas power of attorney is a legal form that acts as the authorization for an individual, known as the agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting this authority. A Texas POA is often used for estate planning. However, there are other instances where a POA is a useful tool.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authorization is known as the agent or the attorney-in-fact.
A Texas power of attorney is a power of attorney form that is in compliance with the requirements of Texas statutes and is, therefore, legally enforceable. According to the statutes in the State of Texas, power of attorney forms must comply with Texas Estates Code § 751 which states that:
While an agent does receive the legal right to make decisions on behalf of the principal, it does not grant the agent the legal ability to direct the principal. Additionally, the POA may end if:
There are several reasons why someone would use a Texas power of attorney form to give someone the authorization to make decisions related to their tangible personal property transactions, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
Each person’s power of attorney needs vary. Thankfully, there are several types of power of attorney documents. Before you decide to get a power of attorney, you should seek legal advice. Ask about the best POA to suit your needs and how to revoke a power of attorney if it becomes necessary. Here are a few of the most common.
Durable Power of Attorney
A durable power of attorney is a power of attorney that stays in effect even if you're no longer incapacitated.
Medical Power of Attorney
A medical power of attorney form allows another person to make health care decisions on behalf of the principal.
General Power of Attorney
A general power of attorney enables a family member or other person to make financial decisions on behalf of the principal.
Limited Power of Attorney
A limited power of attorney is also known as a special power of attorney.
Tax Power of Attorney
In the State of Texas, a Tax Power of Attorney is known as Form 86-113. Completing this form allows a qualified individual, such as an accountant, to prepare and submit state and federal taxes on behalf of the principal who completed the form.
Vehicle Power of Attorney
A Vehicle Power of Attorney is known as Form VTR-271. The agent is able to buy, sell, and otherwise handle the necessary documentation required by the Texas Department of Motor Vehicles.
Real Estate Power of Attorney
A real estate power of attorney gives the agent the ability to buy, sell, and manage the property for the principal.
Guardian of Minor Power of Attorney
A guardian of minor power of attorney specifically applies to guardians of minors.
Springing Power of Attorney
According to TexasLawHelp.org, a springing power of attorney becomes active only if something specific occurs.
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