PandaTip: This general power of attorney template is suitable if you wish to transfer all property rights and responsibility from one person to another. It is most often used where one person is unable or unwilling to manage their assets, or anticipates that they may become so in the future. This general power of attorney template gives complete discretion to the the attorney-in-fact (i.e. the recipient of the power) however it can be revoked at any point. Requirements for executing general powers of attorney may vary from state to state to country to country and if you are in doubt about how to execute this document you should consult a lawyer. We have adopted a very cautious approach to execution by drafting this general power of attorney in such a way as it will be signed in the presence of two independent witnesses. It may be that this level of formality is not required in your state or country, or that some other method is prescribed. If you are unsure about the correct method of executing this general power of attorney you should seek advice before executing this document.This general power of attorney template is not suitable for medical use, if you wish to appoint a medical power of attorney you should use the medical power of attorney template.
General Power of Attorney Template
KNOW ALL MEN BY THESE PRESENTS THAT I, [PRINCIPAL NAME] (“the Principal”), holder of [PRINCIPAL ID DOCUMENT] number [PRINCIPAL ID NUMBER] and residing at [PRINCIPAL ADDRESS] do hereby make and appoint as my lawful attorney for me and in my place and in my stead [ATTORNEY NAME] (“the Attorney”), holder of [ATTORNEY ID DOCUMENT] number [ATTORNEY ID NUMBER] and residing at [ATTORNEY ADDRESS] empowering him/her to do all of the following and do hereby ratify and endorse all those things which my true and lawful attorney may do or cause to be done:
PandaTip: The ‘Principal’ means the person giving this general power of attorney. The ‘Attorney’ means the person who will make the decisions (i.e. the recipient of the power). The ‘Attorney’ does not need to be a lawyer, in this context the term simply means someone representing someone else. Typically general powers of attorney would be used to appoint partners, trusted friends or members of the close family as the Attorney. An example might include a family member diagnosed with a degenerative disease or a friend going sailing around the world.
1. Generally to exercise full control over any and all of my property including but not limited to the rights to manage, control, operate, improve, transfer, sell, mortgage, lien, destroy and dispose of said property absolutely in any manner that the Attorney may in their absolute discretion see fit and without any obligation to give reasons or justification as if the said assets were the property of the Attorney absolutely.
2. To receive, call upon, recover, collect and otherwise take the benefit of any and all income or capital benefit from any and all of my property including but not limited to trading income, passive income of any source, rental income, income from dividends, shares, income from employment, pensions, trusts, annuities, bequests, legacies and from any other property as if that income and capital were the property of the Attorney absolutely and without any obligation to give reasons or justification for their actions.
3. To agree, negotiate and make any agreement, promise or undertaking concerning my property with any third party whether written or not and on such terms and for such consideration as the Attorney may in their absolute discretion see fit.
4. To settle and make payment of any and all debts, taxes, charges, professional fees and other obligations or liabilities due to me whether by payment of cash or by the transfer, assignment or sale of my property.
5. To sign and execute on my behalf any and all documents and formalities which the Attorney in their absolute discretion considers to be necessary to or conducive to the execution of any of the powers set out in this general power of attorney including but not limited to the executing and signing of deeds, contracts, agreements, declarations, mortgages.
6. To sue or bring other legal action on my behalf against any third-party for whatever reason the Attorney may in their absolute discretion see fit and to settle said legal action by any means the Attorney may see fit including the making and accepting of out of court settlements.
7. To appear in my name and in my stead before any competent court and legal or public authority including but not limited to all national and federal tax authorities.
8. To do or undertake any other action which my Attorney may in their absolute discretion deem necessary or conducive to the exercise of the powers contained within this general power of attorney.
This General Power of Attorney shall be effective from the date of its execution and shall remain in force indefinitely unless revoked.
Signed this [DAY] of [MONTH], [YEAR] in the presence of two independent witnesses.
We, the undersigned witnesses, do hereby declare under penalty of perjury that we have witnessed the Principal whose name, identity and handwriting are known to us signing and executing this General Power of Attorney in our presence. Further we declare that we are not related to the Principal by blood nor by marriage nor by adoption nor are we involved in providing medical treatment to the Principal nor are we beneficiaries under the Principal’s Last Will and Testament and that the Principal appears, in our best judgement, to be acting in sound mind, voluntarily and free from external influences, stress, duress and undue influence.
[WITNESS 1] [WITNESS 2]
[WITNESS 1 ADDRESS] [WITNESS 2 ADDRESS]
PandaTip: You may also wish to include the ID numbers of the witnesses in case they are later required to verify that they saw the document being signed. As still further proof you might want to have this document signed before a Notary Public. Please see our comments above (1st Panda Tip) regarding the proper execution of general powers of attorney and if in doubt take legal advice.