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The Vermont General (Financial) Power of Attorney summarizes the terms and conditions inherent in the contract to supply defined ownership controls to an outside party for a finite period. The document allows a person to appoint an attorney-in-fact to make decisions, take action, and sign for certain indicated financial matters. The form can be adjusted to meet the necessary criteria desired by the issuing authority. The provisions included in the document cover:

Designation of the Principal
Designation of the Agent
Designation of Granted Powers
Limitation of Granted Powers
Expiration Date of the Agreement

Once the arrangement filing is recorded as needed, signatures can be applied by the participants. All endorsements must be received under the supervision of a notary public and one witnessing individual.

Laws

Statute – Powers of Attorney (14 V.S.A. § 3501 – 14 V.S.A. § 3516)

Definition – “Power of attorney” means a written document by which a principal designates an agent to act on his or her behalf (14 V.S.A. § 3501(8)).

Signing Requirements – State legislature demands that a notary be present to verify the principal’s execution and one (1) corroborating witness (14 V.S.A. § 3503).