Texas General Financial Power of Attorney Form

In Texas, as in every other state of the U.S., you can choose a person to act on your behalf when dealing with issues you cannot consider for some particular reasons. Before delegating specific financial responsibilities, you must complete a unique form—the Texas General Financial Power of Attorney.

It is used when an individual wants to appoint an agent to manage financial affairs in case of an individual’s unavailability. Keep in mind that, unlike a medical power of attorney form, this document is not meant for making legal decisions after the principal’s incapacitation resulting from severe mental and physical health problems. As soon as the principal becomes incapacitated, the form is no longer valid.

However, there are lots of other reasons why a person cannot manage their affairs. For example, the principal could be away on a long business trip or, for some other reason, is not around to handle their financial matters.

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texas general financial poa

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When deciding to complete the printable power of attorney form, make sure that the person (your friend, family member, business partner, and so on) you want to assign as an agent has proved to be reliable and trustworthy, and is unlikely to take advantage of the situation. Your decision should not be spontaneous. Weigh all your decisions carefully when selecting an attorney-in-fact and consider the person’s level of professional expertise.

The General POA form in Texas allows a principal to let their attorney-in-fact manage the majority of possible operations related to finances. The list of powers that can be granted to an agent comprises the following:

  • Business- and banking-related operations
  • Paying taxes
  • Insurance matters
  • Real and personal property transactions and operations
  • Retirement plan operations
  • Operations involving stocks and bonds
  • Managing benefits from the government
  • Family and personal maintenance
  • Making claims and engaging in litigations
  • Other operations tied to the transfer of money

Although there are no statutes concerning any requirements for this form, the state recommends following the rules stated in the laws for the Durable POA form (§ 751.0021(4)). The principal and the agent must be competent adults (no younger than 18 years old). The state does not demand that the form be signed in the presence of witnesses. Only the acknowledgment of the document by a notary public is mandatory.

Texas General Power of Attorney Form Details

Document Name Texas General Power of Attorney Form
Other Name Texas Financial Power of Attorney
Relevant Laws Texas Statutes, Estates Code, Title 2, Chapter 751
Where to File? Not necessary to file in most cases (but in real estate transactions it is needed to record the form at the courthouse)
Avg. Time to Fill Out 10 minutes
# of Fillable Fields 41
Available Formats Adobe PDF

Filling Out Texas General (Financial) POA Form

We have created a comprehensive guide with essential steps to take when filling out the form. We hope that it will make the process of completing the form much easier.

1. Download the Texas General POA Form

First, obtain the template of a Texas general power of attorney form. You can make use of our form-building software to download the form effortlessly.

2. Read the Notice

At the beginning of the document, there is a notice that reminds you that the form is not meant to delegate power to make any healthcare decisions on your behalf. According to the notice, you have a right to consult with a lawyer if you have questions regarding the powers you want to delegate.

3. Insert Your Details

Now you can proceed to the principal’s statement in which you (as the principal) state that you want to appoint a particular person as an agent. Write down your and your agent’s full name and address (street, county, state).
Step 3 to filling out a texas general power of attorney details

4. Specify Granted Powers

Read the list of the responsibilities that you can delegate to your agent carefully and choose the ones you want to entrust to your attorney-in-fact. You must insert your initials next to the power you want to assign to your agent. If you are comfortable delegating all the powers listed, choose only the last statement.
Step 4 to filling out a texas general power of attorney template granted powers

5. Insert the Effective Date

Here, specify the date when you execute the General Power of Attorney. You have two options: either to let it come into effect immediately after you sign the form or to set up another date.
Step 5 to filling out a texas general poa sample effective date

6. Choose the Termination Date

Place your initials near the first statement if you want the form to be terminated after you have revoked it in writing. You can also specify a date or let it stop being valid only after you become incapacitated.
Step 6 to filling out a texas financial blank power of attorney termination date

7. Appoint a Successor Agent (If Necessary)

If the agent you have chosen is unable to take up responsibilities and perform tasks on your behalf due to a severe illness, death, or some other reason, you can choose another agent to do it. The principal must enter the personal details of the successor agent.
Step 7 to filling out a texas general power of attorney example successor agent

8. Sign and Acknowledge the Document

Having read the provided information and checked your details, you can sign the paper. Do not forget to insert the date on which you execute the form. As we have mentioned earlier, the form must be verified by a notary public. The notary agent must insert the form’s execution date and location.
Step 8 to filling out a texas general poa template notarization

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Published: Apr 24, 2022