Source: https://chowinslaw.com/resources/texas-wills-and-probate-laws/204-statutory-durable-power-of-attorney-texas-wills-and-probate-law
Timestamp: 2020-08-15 10:05:32
Document Index: 169447379

Matched Legal Cases: ['§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752', '§ 752']

Statutory Durable Power of Attorney - Texas Wills and Probate Law - Chowins Law Firm, PLLC | Chowins Law Firm, PLLC
TEXAS ESTATES CODE, TITLE 2. SUBTITLE P. CHAPTER 752.
GENERAL PROVISIONS REGARDING STATUTORY DURABLE POWER OF ATTORNEY
§ 752.001. USE, MEANING, AND EFFECT OF STATUTORY DURABLE POWER OF ATTORNEY.
(a) A person may use a statutory durable power of attorney to grant an attorney in fact or agent powers with respect to a person's property and financial matters.
§ 752.002. VALIDITY NOT AFFECTED.
A power of attorney is valid with respect to meeting the requirements for a statutory durable power of attorney regardless of the fact that:
§ 752.003. PRESCRIBED FORM NOT EXCLUSIVE.
The form prescribed by Section 752.051 is not exclusive, and other forms of power of attorney may be used.
§ 752.004. LEGAL SUFFICIENCY OF STATUTORY DURABLE POWER OF ATTORNEY.
A statutory durable power of attorney is legally sufficient under this subtitle if:
FORM OF STATUTORY DURABLE POWER OF ATTORNEY
§ 752.051. FORM.
The following form is known as a "statutory durable power of attorney":
You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until:
I, __________ (insert your name and address), appoint __________ (insert the name and address of the person appointed) as my agent to act for me in any lawful way with respect to all of the following powers that I have initialed below. (YOU MAY APPOINT CO-AGENTS. UNLESS YOU PROVIDE OTHERWISE, CO-AGENTS MAY ACT INDEPENDENTLY.)
If any agent named by me dies, becomes incapacitated, resigns, refuses to act, or is removed by court order, or if my marriage to an agent named by me is dissolved by a court decree of divorce or annulment or is declared void by a court (unless I provided in this document that the dissolution or declaration does not terminate the agent's authority to act under this power of attorney), I name the following (each to act alone and successively, in the order named) as successor(s) to that agent: __________.
(Seal, if any, of notary) ______________________________________
When you accept the authority granted under this power of attorney, you establish a "fiduciary" relationship with the principal. This is a special legal relationship that imposes on you legal duties that continue until you resign or the power of attorney is terminated, suspended, or revoked by the principal or by operation of law. A fiduciary duty generally includes the duty to:
(5) disclose your identity as an agent when you act for the principal by writing or printing the name of the principal and signing your own name as "agent" in the following manner:
(5) the appointment and qualification of a permanent guardian of the principal's estate unless a court order provides otherwise; or
§ 752.052. MODIFYING STATUTORY FORM TO GRANT SPECIFIC AUTHORITY.
The statutory durable power of attorney may be modified to allow the principal to grant the agent the specific authority described by Section 751.031(b) by including the following language:
"GRANT OF SPECIFIC AUTHORITY (OPTIONAL)
____ Authorize another person to exercise the authority granted under this power of attorney".
CONSTRUCTION OF POWERS RELATED TO STATUTORY DURABLE POWER OF ATTORNEY
§ 752.101. CONSTRUCTION IN GENERAL.
By executing a statutory durable power of attorney that confers authority with respect to any class of transactions, the principal empowers the attorney in fact or agent for that class of transactions to:
§ 752.103. TANGIBLE PERSONAL PROPERTY TRANSACTIONS.
§ 752.104. STOCK AND BOND TRANSACTIONS.
The language conferring authority with respect to stock and bond transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.105. COMMODITY AND OPTION TRANSACTIONS.
The language conferring authority with respect to commodity and option transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.106. BANKING AND OTHER FINANCIAL INSTITUTION TRANSACTIONS.
The language conferring authority with respect to banking and other financial institution transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.107. BUSINESS OPERATION TRANSACTIONS.
The language conferring authority with respect to business operating transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.108. INSURANCE AND ANNUITY TRANSACTIONS.
(a) The language conferring authority with respect to insurance and annuity transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.109. ESTATE, TRUST, AND OTHER BENEFICIARY TRANSACTIONS.
The language conferring authority with respect to estate, trust, and other beneficiary transactions in a statutory durable power of attorney empowers the agent to act for the principal in all matters that affect a trust, probate estate, guardianship, conservatorship, life estate, escrow, custodianship, or other fund from which the principal is, may become, or claims to be entitled, as a beneficiary, to a share or payment, including to:
§ 752.110. CLAIMS AND LITIGATION.
The language conferring general authority with respect to claims and litigation in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.111. PERSONAL AND FAMILY MAINTENANCE.
The language conferring authority with respect to personal and family maintenance in a statutory durable power of attorney empowers the agent to:
(5) maintain or open charge accounts for the convenience of the individuals described by Subdivision (1) and open new accounts the agent considers desirable to accomplish a lawful purpose;
(B) contributions to those organizations;
(7) perform all acts necessary in relation to the principal's mail, including:
(A) receiving, signing for, opening, reading, and responding to any mail addressed to the principal, whether through the United States Postal Service or a private mail service;
(B) forwarding the principal's mail to any address; and
(C) representing the principal before the United States Postal Service in all matters relating to mail service; and
(8) subject to the needs of the individuals described by Subdivision (1), provide for the reasonable care of the principal's pets.
§ 752.112. BENEFITS FROM CERTAIN GOVERNMENTAL PROGRAMS OR CIVIL OR MILITARY SERVICE.
The language conferring authority with respect to benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.113. RETIREMENT PLAN TRANSACTIONS.
(a) In this section, "retirement plan" means:
(b) The language conferring authority with respect to retirement plan transactions in a statutory durable power of attorney empowers the agent to perform any lawful act the principal may perform with respect to a transaction relating to a retirement plan, including to:
(8) waive the principal's right to be a beneficiary of a joint or survivor annuity if the principal is not the participant in the retirement plan;
(c) Unless the principal has granted the authority to create or change a beneficiary designation expressly as required by Section 751.031(b)(4), an agent may be named a beneficiary under a retirement plan only to the extent the agent was a named a beneficiary by the principal under the retirement plan, or in the case of a rollover or trustee-to-trustee transfer, the predecessor retirement plan.
§ 752.114. TAX MATTERS.
The language conferring authority with respect to tax matters in a statutory durable power of attorney empowers the attorney in fact or agent to:
§ 752.1145. DIGITAL ASSET TRANSACTIONS.
(a) In this section, "digital asset" has the meaning assigned by Section 2001.002.
(b) The language conferring authority with respect to digital assets in a statutory durable power of attorney empowers the attorney in fact or agent, without further reference to a specific digital asset, to access digital assets as provided in Chapter 2001.
§ 752.115. EXISTING INTERESTS; FOREIGN INTERESTS.
The powers described by Sections 752.102-752.1145 may be exercised equally with respect to an interest the principal has at the time the durable power of attorney is executed or acquires later, whether or not: