Life can be unpredictable, and it doesn’t hurt to be futuristic when it comes to making financial or health care decisions. For situations when life doesn’t work in your favor, a power of attorney can help you be back on track with the help of a trusted person or professional.
Let’s see what power of attorney in Washington State is like.
Given below is a rundown of components that will be included in the power of attorney form Washington state template:
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- Information sections for the details of the agent and the principal
- Detailed stipulations of authorities to be granted to the agents
- Laws that enable these authorizations to be delivered
- Terms and conditions
What Is A Washington Power Of Attorney?
A Washington State power of attorney is a legal document that allows a relative, professional, or acquaintance to act as an agent of yours. A power of attorney agent grants the agent the power to work on your financial and health decisions on your behalf.
A power of attorney includes two parties, namely the agent and the principal. When both parties sign it, it allows the agent to make decisions of the principal on his/her behalf when he/she becomes incapable or unavailable to do so.
Embark On A Journey To Enjoy More Freedom With Our Power of Attorney Washington State Template
Empower yourself now by downloading our exclusive power of attorney form of Washington State template, prepared by our legal team.
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How Does The Washington Power of Attorney Work?
The power of attorney Washington State works very flexibly. Unlike every other state requirement that the signing of power of attorney should be witnessed and notarized, Washington State has no such laws. However, it is still advisable to do so to make the power of attorney workable in any other state.
A Washington state power of Attorney can also be revoked easily by sending the Notice of Revocation in writing to your agent. Also, all other parties like a bank, physician office, school, etc. should be provided such notice to inform that the old power of attorney is not valid anymore.
Types of Washington Power of Attorney?
In Washington state, there are four types of power of attorney.
A non-durable POA or general POA grants the agent the authority to perform any action on behalf of the principal. It ceases to exist as soon as the purpose is solved, or the principal becomes incapacitated or dies.
This is the most common type of POA in Washington State. It starts even before when the principal becomes incapacitated or unavailable and expires only upon the death of the principal. A durable POA can be a financial, medical, guardian, or any other form of the POA.
Special or Limited Power of Attorney
A special POA grants the agent the authority to perform only a specific act, and the POA ceases to exist as the purpose is solved. This could be selling a piece of property or another one-time banking or legal transaction.
Springing Power of Attorney
This POA can be both durable and non-durable. This particular POA becomes effective when a certain event for which the POA was made occurs in the future. This event could be when the principal becomes incapacitated, unavailable, or unable to perform the act themselves.
Why Is the Washington Power of Attorney Important?
Undoubtedly, there are various reasons why Washington's power of attorney is important and can provide future benefits.
Helps in estate planning
Having a financial power of attorney helps a great deal in estate planning in Washington. You know you will have your financial needs sorted if you have an active POA. Even in cases where the principal becomes incapacitated or unable to fulfill the requirements, the agent can act on the behalf and gets things done without the involvement of court proceedings.
Keeps your mind at peace
When you assign a person to make decisions on your behalf, it not only leaves your mind at peace but family members too. It also saves you from letting the court take your decisions in Washington. In the absence of POA, a court would require you to have a guardian or conservator which turns out to be a tiring and expensive process.
Makes the principal’s intent clear
Having a power of attorney form Washington while you are healthy avoids unnecessary fights within the family members about the principal’s intent in cases when the principal becomes incapacitated, bedridden, or unavailable. POA clarifies the principal’s wishes and who will act upon him/her.
Embark On A Journey To Enjoy More Freedom With Our Power of Attorney Washington State Template
Empower yourself now by downloading our exclusive power of attorney form of Washington State template, prepared by our legal team.
Click below and save your copy of power of attorney Washington state form template.
Washington Power of Attorney Requirements
The following are the requirements of the power of attorney form Washington State, according to RCW 11.125. 050:
- A power of attorney should be dated and signed by the principal either before a notary or someone else authorized by law. Or it can be attested by two or more witnesses. The witness should not be the principal’s home care provider in any form or persons related by blood and marriage to principal and agent. The name of the witnesses should be subscribed to the POA in the presence of the principal or upon his/her direction of request.
- Under the limitations of the law in Washington, the agent is not permitted to make any changes in the POA or makes changes in the beneficiary to the principal’s life insurance policy, trust agreement, etc. He is also not allowed to make gifts of any property of the principal.
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DOCUMENT PREVIEW
- To receive and deposit funds in any financial institution, and to withdraw funds by check or otherwise to pay for goods, services, and any other personal and business expenses for my benefit. If necessary, to effect my Agent’s powers, my Agent is authorized to execute any document required to be signed by such banking institution.
_________ SAFE DEPOSIT BOX - To have access at any time or times to any safe-deposit box rented by me or to which I may have access, wheresoever located, including drilling, if necessary, and to remove all or any part of the contents thereof, and to surrender or relinquish said safe-deposit box; and any institution in which any such safe-deposit box may be located shall not incur any liability to me or my estate as a result of permitting my Agent to exercise this power.
_________ LENDING OR BORROWING - To make loans in my name; to borrow money in my name, individually or jointly with others; to give promissory notes or other obligations therefor; and to deposit or mortgage as collateral or for security for the payment thereof any or all of my securities, real estate, personal property, or other property of whatever nature and wherever situated, held by me personally or in trust for my benefit.
_________ GOVERNMENT BENEFITS - To apply for and receive any government benefits for which I may be eligible or become eligible, including but not limited to, Social Security, Medicare and Medicaid.
_________ RETIREMENT PLAN - To contribute to, select payment option of, roll-over, and receive benefits of any retirement plan or IRA I may own, except my Agent shall not have power to change the beneficiary of any of my retirement plans or IRAs.
_________ TAXES - To complete and sign any local, state and federal tax returns on my behalf, pay any taxes and assessments due and receive credits and refunds owed to me and to sign any tax agency documents necessary to effectuate these powers.
_________ INSURANCE - To purchase, pay premiums and make claims on life, health, automobile and homeowners' insurance on my behalf, except my Agent shall not have the power to cash in or change the beneficiary of any life insurance policy.
_________ REAL ESTATE
- To acquire, purchase, exchange, lease, grant options to sell, and sell and convey real property, or any interests therein, on such terms and conditions, including credit arrangements, as my Agent shall deem proper; to execute, acknowledge and deliver, under seal or otherwise, any and all assignments, transfers, deeds, papers, documents or instruments which my Agent shall deem necessary in connection therewith.
_________ PERSONAL PROPERTY - To acquire, purchase, exchange, lease, grant options to sell, and sell and convey personal property, or any interests therein, on such terms and conditions, including credit arrangements, as my Agent shall deem proper; to execute, acknowledge and deliver, under seal or otherwise, any and all assignments, transfers, titles, papers, documents or instruments which my Agent shall deem necessary in connection therewith; to purchase, sell or otherwise dispose of, assign, transfer and convey shares of stock, bonds, securities and other personal property now or hereafter belonging to me, whether standing in my name or otherwise, and wherever situated.
_________ POWER TO MANAGE PROPERTY- To maintain, repair, improve, invest, manage, insure, rent, lease, encumber, and in any manner deal with any real or personal property, tangible or intangible, or any interests therein, that I now own or may hereafter acquire, in my name and for my benefit, upon such terms and conditions as my Agent shall deem proper.
_________ GIFTS - To make gifts, grants, or other transfers (including the forgiveness of indebtedness and the completion of any charitable pledges I may have made) without consideration, either outright or in trust to such person(s) (including my Agent hereunder) or organizations as my Agent shall select, including, without limitation, the following actions: (a) transfer by gift in advancement of a bequest or devise to beneficiaries under my will or in the absence of a will to my spouse and descendants in whatever degree; and (b) release of any life interest, or waiver, renunciation, disclaimer, or declination of any gift to me by will, deed, or trust
_________ LEGAL ADVICE AND PROCEEDINGS - To obtain and pay for legal advice, to initiate or defend legal and administrative proceedings on my behalf, including actions against third parties who refuse, without cause, to honor this instrument.
SPECIAL INSTRUCTIONS: On the following lines are any special instructions limiting or extending the powers I give to my Agent (Write “None” if no additional instructions are given):
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY
AND AGENT'S AUTHORITY
State of ______________________
[County] of ______________________]
I, (Name of Agent), [certify] under penalty of perjury that ______________________ (Name of Principal) granted me authority as an agent or successor agent in a power of attorney dated ______________________, 20____.
I further [certify] that to my knowledge:
(1) I am acting in good faith pursuant to the authority given under the power of attorney;
(2) The principal is alive and has not terminated, revoked, limited, or modified the power of attorney or my authority to act under the power of attorney; nor has the power of attorney or my authority to act under the power of attorney been terminated, revoked, limited, or modified by any other circumstances;
(3) When the power of attorney was signed, the principal was competent to execute it and was not under undue influence to sign;
(4) All events necessary to making the power of attorney effective have occurred;
(5) If I was married or a registered domestic partner of the principal when the power of attorney was executed, there has been no subsequent dissolution, annulment, or legal separation, and no action is pending for the dissolution of the marriage or domestic partnership or for legal separation;
(6) If the power of attorney was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred;
(7) If I was named as a successor agent, the prior agent is no longer able or willing to serve, or the conditions stated in the power of attorney that cause me to become the acting agent have occurred; and
(8) ________________________________________________________________
_____________________________________ (Insert other relevant statements)
SIGNATURE AND ACKNOWLEDGMENT
________________________________________
Agent’s Signature