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General Power Of Attorney Rhode Island State Seal Free Forms In Fillable Pdf Form Samples Fact

General Power Of Attorney Rhode Island

A Special or Limited POA gives an Agent the power to act on your behalf, but only specific powers. You can create several Special POAs, with different agents granted different powers. Here is a list of some of the specific powers you can grant to your Agent:.
- Sign checks.
- Withdraw money.
- Make a gift.
- Create, amend, revoke, or terminate an inter vivos trust.
- Create or change rights of survivorship.
- Create or change a beneficiary designation.
- Authorize another person to exercise authority granted by 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.

The most important part of this document is the choice of agent. This person will be in charge of many financial assets once the principal sign sthe document. Generally, people select close family members, such as spouses or children, or long-time friends. However, any person whom a principal trusts to make the best decisions on their behalf can be chosen. Be aware that if the principal chooses a spouse and then later ends the marriage, the spouse s power will automatically terminate.

You can name more than one attorney-in-fact if you believe that different people will better handle certain decisions or transactions. You may also name a fiduciary, such as an accountant, lawyer, or other professional as your attorney-in-fact if you wish.

After inputting the required information, the Power of Attorney should be printed out and signed by the principal, as well as notarized.

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