Tennessee General Financial Power of Attorney Form

What Is a Tennessee General Financial Power of Attorney?

A Tennessee general financial power of attorney is a document that lets one person, the principal, name another person, the agent, to take care of money matters. The Tennessee template on this page lets you pick the financial powers your agent gets and choose when the document starts and stops. It also has room for a successor agent.

The template prints these powers, lettered (A) to (M), plus a line (N) that grants all of them:

• Real property transactions
• Tangible personal property transactions
• Stock and bond transactions
• Commodity and option transactions
• Banking and other financial institution transactions
• Business operating transactions
• Insurance and annuity transactions
• Estate, trust, and other beneficiary transactions
• Claims and litigation
• Personal and family maintenance
• Benefits from Social Security, Medicare, Medicaid, or other governmental programs, or civil or military service
• Retirement plan transactions
• Tax matters

Choosing a reliable agent is essential because they will have significant control over the principal’s finances. The general power of attorney will end automatically if the principal becomes incapacitated or unable to make decisions. Furthermore, it’s important to note that the principal can revoke the form at any time as long as they are mentally competent.

Using a general financial power of attorney in Tennessee ensures that financial matters can be handled efficiently without court intervention, saving time.

Tennessee General Power of Attorney Background and Form Details

In Tennessee, the laws governing the General Power of Attorney are outlined under the Tennessee Code Annotated, Sections 34-6-101 to 34-6-112. This legislation, part of the Uniform Durable Power of Attorney Act, also includes provisions for general powers. These laws enable individuals to designate agents to manage their financial and legal affairs. For example, Section 34-6-109 outlines the specific powers that can be granted to the attorney-in-fact, detailing the scope and limits of their authority.

Although there are no explicit statutory requirements for signing a general power of attorney, it is recommended that the document be notarized to prevent potential disputes.

Tennessee General Power of Attorney Form Details

How to Fill Out the Tennessee General Power of Attorney Form

Open the template, then work from the top of page 1 to the last page of the form. The form has 41 fillable fields, and most of them are short initials, dates or names. Have the full names and addresses of the principal and the agent ready before you start.

The screenshots under each step show the FormsPal Tennessee Tennessee General Financial Power of Attorney template filled with sample entries in blue, so you can see where each answer goes. The names, addresses, dates and amounts are examples only.

1. Principal and agent Enter your name and address, then your agent’s name and address, in the opening paragraph.

   

2. Initial the powers (A) to (K) Initial the line next to each power you want to give your agent. Leave the lines of the powers you are withholding empty.

   

3. Initial the powers (L) to (N) Continue with (L) retirement plan transactions and (M) tax matters. Initial (N) to grant all of the listed powers, and the other lines can stay empty.

   

4. Effective Date Initial one line, either effective immediately or effective on a date that you write in.

   

5. Termination: written revocation Initial the first line if the document should end when you sign a written revocation. Initial one termination line only.

   

6. Termination: date or incapacity Or initial the line with a set date, and write in the date and year, or the line for incapacity. The form prints its own meaning of incapacitated on page 3 and page 4.

   

7. Successor attorney-in-fact Write your agent’s name, then the name and address of an alternate agent.

   

8. Date, signature and printed name Fill in the day, month and year, sign the form, and print your name below your signature.

   

9. Acknowledgment Page 5 holds the notary acknowledgment. Fill in the county, the date, the officer’s name and title, and the principal’s name on its lines.

   

10. Officer’s signature and seal This is the notary’s line, so you do not sign here.

    

How to Sign and Use the Tennessee General Financial Power of Attorney

Once the template is filled in, print it and read it through from page 1 to page 5. Check that the names match the IDs of the people involved and that each line you meant to initial is marked. Then move on to signing and keeping copies.

1. Signature and Notarization

   Finally, the document must be signed and dated in the presence of a notary public. This step ensures the legality of your general financial power of attorney. The notary or witnesses will complete the acknowledgment section, verifying your identity and signature.

2. Keep copies Keep a signed copy where you can find it, and give your agent a copy too.

By diligently following these instructions, you can be sure that your Tennessee general Financial power of attorney document is accurately completed and has legal validity.

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Frequently Asked Questions

What is a Tennessee general financial power of attorney?

It is a document in which one person, the principal, names another person, the agent, to handle money matters. The template on this page covers areas such as banking, real property, investments, insurance and tax matters, and you pick the ones you want to include.

How long does the form take to fill out?

The details table above lists about 10 minutes. The template has 41 fillable fields, mostly initials, names, addresses and dates, so most of the time goes to gathering the details.

Can I fill in the PDF on my computer?

Yes. Download the PDF, then fill it in with the FormsPal PDF editor, or print it and write in the answers by hand.

What should I do with the form after filling it in?

Print it, review every entry and keep a signed copy somewhere safe. Give your agent a copy as well, so both of you know what the document says.

General information, not legal or tax advice.

Mara Erlach

Writer & Attorney

Mara has been practicing estate planning and trust law in California since 2003, taking pride in helping clients of all backgrounds and asset profiles form a complete and customized estate plan. Her specialties are: estate planning, wills and trusts, trust and probate administration.