A Texas Statutory Power of Attorney Form is created when a principal wants to have a second option for representing their financial affairs, where another individual would be able to legally make specific decisions in regards to finances.
It is important to note that the individual would still be able to use these powers even if the principal is no longer able to talk due to incapacitation. The agent should act in the best interests of the principal and make decisions as the principal would have wanted. This is why the agent must be a trustworthy person and should be available at any time because a deal that would require a signature could be requested at any given moment. The document should be carefully stored away but needs to be accessed easily and quickly.
A Texas Statutory Power of Attorney should be signed by the principal. A notary public should authorize the signature within the document.
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