Durable Power of Attorney for Property
Price: $20, prepared online and available immediately, with 30 days to make revisions. All four documents together: $165.
What it does
A Durable Power of Attorney for Property lets an agent you choose manage your property without court supervision if you cannot act, which can avoid a guardianship. Under a general power your agent has broad powers, including to buy and sell property, spend funds and make gifts, and is a fiduciary bound by Chapter 751 of the Texas Estates Code.
A general Durable Power of Attorney for Property allows someone you (the Principal) designate (your attorney in fact) to manage your property without court supervision if you are not able to act. This can avoid the need for a guardianship.
Chapter 751 of the Texas Estates Code sets your agent's duties. Your agent must act in your interest, keep you informed, keep records of what they do, and account to you when you ask (Tex. Est. Code §§ 751.101–751.104). It is very important that you choose someone you trust to perform this job since under a general power of attorney they have broad powers, including the powers to buy and sell property, to expend funds, to make agreements on your behalf, and to make gifts.
In addition, it is usually wise to name an alternate in case your first choice is not able to act. You may have more than one power of attorney in effect at one time.
A spouse does not automatically have the power to act for the other spouse, thus a power of attorney is necessary even when married. Similarly, a parent does not automatically have the power to act for an adult child, thus a power of attorney is necessary, although the parent is the "natural guardian" of a minor child, subject to court appointment of a legal guardian of the estate.
What it does not do
A Durable Power of Attorney for Property covers your property, not health-care decisions, which are made under a Medical Power of Attorney. It ends at your death, on revocation, or as the document provides; after death, your Will and Executor take over (Tex. Est. Code ch. 751). Only a general power is offered, not a special or limited one.
A power of attorney may also be "special" or "limited," meaning that the person designated as the attorney in fact can only take certain prescribed actions. Only a general power is offered through our online services. If a special power of attorney is needed, traditional services are provided by Hofheinz Heinen PLLC (hhtexaslaw.com), a separate firm, or you may contact the lawyer of your choice.
A power of attorney is only valid as long as you are alive.
How it must be signed
You sign the Durable Power of Attorney and have your signature acknowledged before a notary public (Tex. Est. Code § 751.0021). Witnesses are not required. It takes effect immediately when you sign it and stays in effect if you later become incapacitated.
Common questions
How much does it cost?
$20, flat fee.
How must it be signed?
You sign it and have your signature acknowledged before a notary public (Tex. Est. Code § 751.0021). Witnesses are not required.
When does it take effect?
Immediately when you sign it, and it stays in effect if you later become incapacitated.
What must my agent do?
Your agent is a fiduciary and must act in your interest, keep you informed, keep records and account when asked (Tex. Est. Code §§ 751.101–751.104).
When does it end?
At your death, on revocation, or as the document provides. After death, your Will and Executor take over.