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Virginia General Power of Attorney

Image 1

​[Sender.FirstName][Sender.LastName][Sender.Company]​

Prepared by:

VIRGINIA POWER OF ATTORNEY

I, [Sender.FirstName][Sender.LastName], appoint [Agent.FirstName][Agent.LastName] at [Agent.State][Agent.StreetAddress][Agent.City][Agent.PostalCode] as my Agent to act for me in any lawful way with respect to the following initialed subjects:

DELEGATION OF AUTHORITY

  1. Real Property Transactions. 

  2. Taxngible Personal Property Transactions. 

  3. Stock and Bond Transactions. 

  4. Commodity and Option Transactions. 

  5. Banking and Other Financial Institution Transactions. 

  6. Business Operating Transactions. 

  7. Insurance and Annuity Transactions. 

  8. Estate, trust, and other Beneficiary Transactions. 

  9. Claims and Litigation. 

  10. Personal and Family Maintenance. 

  11. Benefits from Social Security, Medicare, Medicaid or other Governmental Programs or  Civil or Military Service. 

  12. Retirement Plan Transactions. 

  13. Tax Matters. 

  14. ALL OF THE POWERS LISTED IN (A) THOUGH (O).

ADDITIONAL AUTHORIZATIONS

My agent SHALL NOT do any of the following acts for me UNLESS I have INITIALED the specific authority listed below:

Create, fund amend, revoke, or terminate an inter vivos trust

Make a gift

Create or change rights of survivorship

Create or change a beneficiary designation

Delegate authority granted under the power of attorney

Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan

Exercise fiduciary powers that the principal has authority to delegate

SPECIAL INSTRUCTIONS (optional)

(add an additional page)

EFFECTIVE DATE

This power of attorney is effective immediately unless I have stated otherwise in the Special Instructions above.

RIGHT TO COMPENSATION

My Agent shall be entitled to reasonable compensation for services rendered as agent under this power of attorney.

Choice of Law.

This Power of Attorney will be governed by the laws of the state of Virginia without regard for conflicts of laws principles. It was executed in the state of Virginia and is intended to be valid in all jurisdictions of the United States of America and all foreign nations.

SIGNATURES AND ACKNOWLEDGEMENTS

Acknowledgement of Principal

I am fully informed as to all the contents of this form and I understand the implications of this grant of powers to my Agent.

Signed on this (Insert Date) day of (Insert Month), (Insert Year)

​

Signature
MM / DD / YYYY

​[Principal.FirstName][Principal.LastName]​

Certificate of Acknowledgement of Notary Public

State of Virginia

County of (Insert State)

On (Insert Date) before me, [Notary.FirstName][Notary.LastName],  personally appeared [Principal.FirstName][Principal.LastName], who provided to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacity, and that by their signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the state of Virginia that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

​

Signature
MM / DD / YYYY

​[Notary.FirstName][Notary.LastName][Notary.Company]​

(seal)

Notary Public of the State of Virginia

My commission expires: (Insert Date)

Acknowledgement of Agent (optional)

By accepting or acting under the appointment, the Agent assumes the fiduciary and other legal responsibilities of an Agent.

​

Signature
MM / DD / YYYY

​[Agent.FirstName][Agent.LastName]​

Power of Attorney Virginia

Used 4,873 times

Reviewed by Sharita Jennings

This Virginia General Power of Attorney can be issued for any movable and immovable property. Use this template from PandaDoc.

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FAQ

  • Virginia Power of Attorney Form is a legal document that gives someone authority to act on your behalf in certain situations like banking, handling property, business or other matters. The individual you select to act on your behalf will become known as the “Agent”. You should only select someone that you trust to fill this role. The appointed Agent will be legally permitted to act on your behalf in matters specified by you (the “Principal”), like paying your bills or managing your finances.

  • You can specify in your Virginia Power of Attorney when the document will go into effect. Depending on the language you add to your Power of Attorney, it can become effective upon signing or upon a certain event.

  • In Virginia, there is only a requirement that the principal sign the power of attorney to be valid. However, it is strongly recommended that you sign the document in front of a Notary Public to ensure that no one can challenge the validity of your document.

Specifics of a Virginia POA

To ensure that someone is available to carry out your Power of Attorney, you can also name co-agents and/or successor agents. Co-Agents can act on your behalf together or independently, depending on how you word your Power of Attorney.

Agent’s Duties in Virginia Power of Attorney

Virginia enacted the Uniform Power of Attorney Act to clarify the duties of Agents under this agreement and curb potential for abuse of power by Agents. Under this law Virginia established the following duties for Agents:

  • Act loyally for the principal’s benefits;

  • Do not create a conflict of interest that impairs the agent’s ability to act impartially in the principal’s best interests;

  • Act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances;

  • Keep a record of all receipts, disbursements, and transactions made on behalf of the principal;

  • Cooperated with a person that has the authority to make health care decisions for the principal to carry out the principal’s reasonable expectations to the extent actually known by the agent and otherwise act in the principal’s best interest; and

  • Attempt to preserve the principal’s estate plan, to the extent known by the agent, in the principal’s best interest.

Virginia Courts under Williams v Orr, have held that agents can be compelled to provide an accounting for receipts, payments, and disbursements for all actions taken on the principal’s behalf under the power of attorney.

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