Oregon General Durable Power of Attorney for Property & Finances (Upon Disability)
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OREGON GENERAL DURABLE POWER OF ATTORNEY
THE POWERS YOU GRANT BELOW ARE EFFECTIVE
ONLY IF YOU BECOME DISABLED OR INCOMPETENT
NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE
EXPLAINED IN THE UNIFORM STATUTORY FORM POWER OF ATTORNEY ACT. IF YOU HAVE ANY
QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THIS DOCUMENT
DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR
YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO.
I ____________________________________________________________________________
_____________________________________________ [insert your name and address] appoint
_____________________________________________ [insert the name and address of the person
appointed] as my Agent (attorney-in-fact) to act for me in any lawful way with
respect to the following initialed subjects:
TO GRANT ALL OF THE FOLLOWING POWERS, INITIAL THE LINE IN FRONT OF (N) AND
IGNORE THE LINES IN FRONT OF THE OTHER POWERS.
TO GRANT ONE OR MORE, BUT FEWER THAN ALL, OF THE FOLLOWING POWERS, INITIAL THE
LINE IN FRONT OF EACH POWER YOU ARE GRANTING.
TO WITHHOLD A POWER, DO NOT INITIAL THE LINE IN FRONT OF IT. YOU MAY, BUT NEED
NOT, CROSS OUT EACH POWER WITHHELD.
Note: If you initial Item A or Item B, which follow, a notarized signature will be required on behalf of the Principal.
INITIAL
_______ (A) Real property transactions. To lease, sell, mortgage,
purchase, exchange, and acquire, and to agree, bargain, and contract for the
lease, sale, purchase, exchange, and acquisition of, and to accept, take,
receive, and possess any interest in real property whatsoever, on such terms and
conditions, and under such covenants, as my Agent shall deem proper; and to
maintain, repair, tear down, alter, rebuild, improve manage, insure, move, rent,
lease, sell, convey, subject to liens, mortgages, and security deeds, and in any
way or manner deal with all or any part of any interest in real property
whatsoever, including specifically, but without limitation, real property lying
and being situated in the State of Oregon, under such terms and
conditions, and under such covenants, as my Agent shall deem proper and may for
all deferred payments accept purchase money notes payable to me and secured by
mortgages or deeds to secure debt, and may from time to time collect and cancel
any of said notes, mortgages, security interests, or deeds to secure debt.
_______ (B) Tangible personal property transactions. To lease,
sell, mortgage, purchase, exchange, and acquire, and to agree, bargain, and
contract for the lease, sale, purchase, exchange, and acquisition of, and to
accept, take, receive, and possess any personal property whatsoever, tangible or
intangible, or interest thereto, on such terms and conditions, and under such
covenants, as my Agent shall deem proper; and to maintain, repair, improve,
manage, insure, rent, lease, sell, convey, subject to liens or mortgages, or to
take any other security interests in said property which are recognized under
the Uniform Commercial Code as adopted at that time under the laws of
the State of Oregon or any applicable state, or otherwise hypothecate
(pledge), and in any way or manner deal with all or any part of any real or
personal property whatsoever, tangible or intangible, or any interest therein,
that I own at the time of execution or may thereafter acquire, under such terms
and conditions, and under such covenants, as my Agent shall deem proper.
_______ (C) Stock and bond transactions. To purchase, sell, exchange, surrender, assign, redeem, vote at any meeting, or otherwise transfer any and all shares of stock, bonds, or other securities in any business, association, corporation, partnership, or other legal entity, whether private or public, now or hereafter belonging to me.
_______ (D) Commodity and option transactions. To buy, sell, exchange, assign, convey, settle and exercise commodities futures contracts and call and put options on stocks and stock indices traded on a regulated options exchange and collect and receipt for all proceeds of any such transactions; establish or continue option accounts for the principal with any securities or futures broker; and, in general, exercise all powers with respect to commodities and options which the principal could if present and under no disability.
_______ (E) Banking and other financial institution transactions.
To make, receive, sign, endorse, execute, acknowledge, deliver and possess
checks, drafts, bills of exchange, letters of credit, notes, stock certificates,
withdrawal receipts and deposit instruments relating to accounts or deposits in,
or certificates of deposit of banks, savings and loans, credit unions, or other
institutions or associations. To pay all sums of money, at any time or
times, that may hereafter be owing by me upon any account, bill of exchange,
check, draft, purchase, contract, note, or trade acceptance made, executed,
endorsed, accepted, and delivered by me or for me in my name, by my Agent.
To borrow from time to time such sums of money as my Agent may deem proper and
execute promissory notes, security deeds or agreements, financing statements, or
other security instruments in such form as the lender may request and renew said
notes and security instruments from time to time in whole or in part. To
have free access at any time or times to any safe deposit box or vault to which
I might have access.
_______ (F) Business operating transactions. To conduct, engage in, and otherwise transact the affairs of any and all lawful business ventures of whatever nature or kind that I may now or hereafter be involved in. To organize or continue and conduct any business which term includes, without limitation, any farming, manufacturing, service, mining, retailing or other type of business operation in any form, whether as a proprietorship, joint venture, partnership, corporation, trust or other legal entity; operate, buy, sell, expand, contract, terminate or liquidate any business; direct, control, supervise, manage or participate in the operation of any business and engage, compensate and discharge business managers, employees, agents, attorneys, accountants and consultants; and, in general, exercise all powers with respect to business interests and operations which the principal could if present and under no disability.
_______ (G) Insurance and annuity transactions. To exercise or
perform any act, power, duty, right, or obligation, in regard to any contract of
life, accident, health, disability, liability, or other type of insurance or any
combination of insurance; and to procure new or additional contracts of
insurance for me and to designate the beneficiary of same; provided, however,
that my Agent cannot designate himself or herself as beneficiary of any such
insurance contracts.
_______ (H) Estate, trust, and other beneficiary transactions. To accept, receipt for, exercise, release, reject, renounce,
assign, disclaim, demand, sue for, claim and recover any legacy, bequest,
devise, gift or other property interest or payment due or payable to or for the
principal; assert any interest in and exercise any power over any trust, estate
or property subject to fiduciary control; establish a revocable trust solely for
the benefit of the principal that terminates at the death of the principal and
is then distributable to the legal representative of the estate of the
principal; and, in general, exercise all powers with respect to estates and
trusts which the principal could exercise if present and under no disability;
provided, however, that the Agent may not make or change a will and may not
revoke or amend a trust revocable or amendable by the principal or require the
trustee of any trust for the benefit of the principal to pay income or principal
to the Agent unless specific authority to that end is given.
_______ (I) Claims and litigation. To commence, prosecute,
discontinue, or defend all actions or other legal proceedings touching my
property, real or personal, or any part thereof, or touching any matter in which
I or my property, real or personal, may be in any way concerned. To defend,
settle, adjust, make allowances, compound, submit to arbitration, and compromise
all accounts, reckonings, claims, and demands whatsoever that now are, or
hereafter shall be, pending between me and any person, firm, corporation, or
other legal entity, in such manner and in all respects as my Agent shall deem
proper.
_______ (J) Personal and family maintenance. To hire accountants,
attorneys at law, consultants, clerks, physicians, nurses, agents, servants,
workmen, and others and to remove them, and to appoint others in their place,
and to pay and allow the persons so employed such salaries, wages, or other
remunerations, as my Agent shall deem proper.
_______ (K) Benefits from Social Security, Medicare, Medicaid, or other
governmental programs, or military service. To prepare, sign and file any claim or application for Social Security,
unemployment or military service benefits; sue for, settle or abandon any claims
to any benefit or assistance under any federal, state, local or foreign statute
or regulation; control, deposit to any account, collect, receipt for, and take
title to and hold all benefits under any Social Security, unemployment, military
service or other state, federal, local or foreign statute or regulation; and, in
general, exercise all powers with respect to Social Security, unemployment,
military service, and governmental benefits, including but not limited to
Medicare and Medicaid, which the principal could exercise if present and under
no disability.
_______ (L) Retirement plan transactions. To contribute to, withdraw from and deposit funds in any type of retirement
plan (which term includes, without limitation, any tax qualified or nonqualified
pension, profit sharing, stock bonus, employee savings and other retirement
plan, individual retirement account, deferred compensation plan and any other
type of employee benefit plan); select and change payment options for the
principal under any retirement plan; make rollover contributions from any
retirement plan to other retirement plans or individual retirement accounts;
exercise all investment powers available under any type of self-directed
retirement plan; and, in general, exercise all powers with respect to retirement
plans and retirement plan account balances which the principal could if present
and under no disability.
_______ (M) Tax matters. To prepare, to make elections, to execute
and to file all tax, social security, unemployment insurance, and informational
returns required by the laws of the United States, or of any state or
subdivision thereof, or of any foreign government; to prepare, to execute, and
to file all other papers and instruments which the Agent shall think to be
desirable or necessary for safeguarding of me against excess or illegal taxation
or against penalties imposed for claimed violation of any law or other
governmental regulation; and to pay, to compromise, or to contest or to apply
for refunds in connection with any taxes or assessments for which I am or may be
liable.
_______ (N) ALL OF THE POWERS LISTED ABOVE. YOU NEED NOT INITIAL ANY OTHER LINES
IF YOU INITIAL LINE (N).
SPECIAL INSTRUCTIONS:
ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS LIMITING OR EXTENDING
THE POWERS GRANTED TO YOUR AGENT.
________________________________________________________________
________________________________________________________________
________________________________________________________________
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THIS POWER OF ATTORNEY SHALL BE CONSTRUED AS A GENERAL DURABLE POWER OF ATTORNEY.
THIS POWER OF ATTORNEY BECOMES EFFECTIVE ONLY UPON MY DISABILITY OR INCAPACITY. I shall be considered disabled or incapacitated for purposes of this power of attorney if a physician certifies in writing at a date later than the date this power of attorney is executed that, based on the physician's medical examination of me, I am mentally incapable of managing my financial affairs. I authorize the physician who examines me for this purpose to disclose my physical or mental condition to another person for purposes of this power of attorney. A third party who accepts this power of attorney is fully protected from any action taken under this power of attorney that is based on the determination made by a physician of my disability or incapacity.
(YOUR AGENT WILL HAVE AUTHORITY TO EMPLOY OTHER PERSONS AS NECESSARY TO
ENABLE THE AGENT TO PROPERLY EXERCISE THE POWERS GRANTED IN THIS FORM, BUT YOUR
AGENT WILL HAVE TO MAKE ALL DISCRETIONARY DECISIONS. IF YOU WANT TO GIVE YOUR
AGENT THE RIGHT TO DELEGATE DISCRETIONARY DECISION-MAKING POWERS TO OTHERS, YOU
SHOULD KEEP THE NEXT SENTENCE, OTHERWISE IT SHOULD BE STRICKEN.)
Authority to Delegate. My Agent shall have the right by written
instrument to delegate any or all of the foregoing powers involving
discretionary decision-making to any person or persons whom my Agent may select,
but such delegation may be amended or revoked by any agent (including any
successor) named by me who is acting under this power of attorney at the time of
reference.
(YOUR AGENT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL REASONABLE EXPENSES
INCURRED IN ACTING UNDER THIS POWER OF ATTORNEY. STRIKE OUT THE NEXT SENTENCE IF
YOU DO NOT WANT YOUR AGENT TO ALSO BE ENTITLED TO REASONABLE COMPENSATION FOR
SERVICES AS AGENT.)
Right to Compensation. My Agent shall be entitled to reasonable
compensation for services rendered as agent under this power of attorney.
(IF YOU WISH TO NAME SUCCESSOR AGENTS, INSERT THE NAME(S) AND ADDRESS(ES) OF
SUCH SUCCESSOR(S) IN THE FOLLOWING PARAGRAPH.)
Successor Agent. If any Agent named by me shall die, become
incompetent, resign or refuse to accept the office of Agent, I name the
following (each to act alone and successively, in the order named) as
successor(s) to such Agent:
________________________________________________________________________
________________________________________________________________________
Choice of Law. THIS POWER OF ATTORNEY WILL BE GOVERNED BY THE LAWS OF THE STATE OF OREGON WITHOUT REGARD FOR CONFLICTS OF LAWS PRINCIPLES. IT WAS EXECUTED IN THE STATE OF OREGON AND IS INTENDED TO BE VALID IN ALL JURISDICTIONS OF THE UNITED STATES OF AMERICA AND ALL FOREIGN NATIONS.
I am fully informed as to all the contents of this form and understand the
full import of this grant of powers to my Agent.
I agree that any third party who receives a copy of this document may act under
it. Revocation of the power of attorney is not effective as to a third party
until the third party learns of the revocation. I agree to indemnify the third
party for any claims that arise against the third party because of reliance on
this power of attorney.
Signed this _______ day of _______________, 20____
______________________________
[Your Signature]
CERTIFICATE OF ACKNOWLEDGMENT OF NOTARY PUBLIC STATE OF OREGON |
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[Notary Seal, if any]: |
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ACKNOWLEDGMENT OF AGENT
BY ACCEPTING OR ACTING UNDER THE APPOINTMENT, THE AGENT ASSUMES THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN AGENT.
________________________________________________
[Typed or Printed Name of Agent]
________________________________________________
[Signature of Agent]
PREPARATION STATEMENT
This document was prepared by the following individual:
________________________________________________
[Typed or Printed Name]
________________________________________________
[Signature]
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