If you have been thinking of transferring your authority over some financial obligations to another person and are wondering how to do that legally, we might just have the answer.
Using the California General Financial Power of Attorney form, the principal can transfer their powers over certain issues to a trustee. The assigned Attorney-in-Fact will be making decisions or acting on behalf of the confidant on the agreed financial matters.
If perhaps you want to find out more about some other California power of attorney templates, check our dedicated state article linked in this paragraph.
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The power transferring process is regulated by the statutory norms and the California Code of Regulations (State Treasurer’s Office). Always check out for the latest amendments and refreshments to the documents. This printable power of attorney form shall comply with these norms and may cover the following:
There are two parties to the transferring process. The party that grants authority and assigns the trustee is called the principal. The party receiving responsibility is called an agent or an Attorney-in-Fact—the latter is used more frequently. Before choosing a trustee, one should think very carefully and opt for a person who has a great understanding of financial management and is trustworthy. The general financial power of attorney is not the same as the durable power of attorney, although it can be converted into one.
|Document Name||California General Power of Attorney Form|
|Other Name||California Financial Power of Attorney|
|Relevant Laws||California Probate Code, Division 4.5|
|Where to File?||Not necessary to file in most cases (but it may be needed to record the form with the County Recorder’s Office)|
|Avg. Time to Fill Out||10 minutes|
|# of Fillable Fields||38|
|Available Formats||Adobe PDF|
To issue the California General Financial Power of Attorney, you need first to prepare the proper legal form. You can get legal assistance or just use our software tools to build any form you need. Make sure to look carefully through the document before starting to fill it in. It is essential to familiarize yourself with the conditions, disclosures, and general terms given in the form. Below, we provide you with step-by-step instructions on how to fill out the power of attorney form:
Once the document is signed and notarized, we advise you to make several copies to serve to the County Recorder’s Office, the new Attorney-in-Fact, and any other relevant state or municipal institution when needed.