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A power of attorney also called a durable power of attorney can be very specific in terms of the agent s authority and it can contain language that makes it effective only upon the occurrence of a specified event e g the business owner s incapacity.

Business power of attorney form.

A power of attorney for business is a legal form authorizing someone to act on behalf of a business. Irs power of attorney form 2848 revised in dec. Any authority granted to my said attorney in fact however shall be limited so as to prevent this power of attorney 1 from causing my attorney in fact to be taxed on my income 2 from causing my estate to be subject to a general power of appointment as that term is defined in section 2041 of the internal revenue code of 1986 as amended. 2015 allows an individual or business entity to elect a party usually an accountant or tax attorney to file federal taxes on their behalf.

Durable power of attorney to grant power to bank accounts real estate and any other financial related acts. Adobe pdf ms word docx. The powers are durable which means the form remains valid even if the principal should become mentally incompetent. A power of attorney can be categorised as either general or enduring.

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