POWER OF ATTORNEY CONTRACT

THIS AGREEMENT is hereby entered into on this ………………day of …….……………. Two Thousand and ……………………………

BETWEEN

1.XXX, whose address is XXXX, hereinafter referred to as (the “Principal”)

 AND

  1. XXXX, whose address is XXXX, hereinafter referred to as (the “Agent”) (collectively referred to as “Parties”)

RECITALS

WHEREAS the Principal is the son of the deceased XXXX, and as such has a legal interest in the estate of XXX; and

WHEREAS the Agent is the sister of the deceased XXXX, and has knowledge of and experience with the affairs of the estate of Nina Renee Shaw that make her well-suited to act as the agent under this Power of Attorney Contract.

WHEREAS, the principal, desires to appoint the Agent as their attorney-in-fact to act on their behalf in all matters pertaining to the estate of XXXX, and

WHEREAS, the agent, is willing and able to act on the principal’s behalf in these matters and is hereby appointed by the principal as their attorney-in-fact for such purposes.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the partners agree as follows:                     

3.APPOINTMENT OF AGENT:

The principal hereby appoints the agent as the attorney-in-fact to act on the principal’s behalf in all matters pertaining to the estate of XXXX, including but not limited to any legal, financial, and business matters. The agent shall also act as the principal’s representative in all matters relating to the principal’s interests in the estate.

  1. POWERS GRANTED TO AGENT:

The principal hereby authorizes the agent to act in the following capacities:

(a) To manage and conduct all business matters related to the estate of XXXX, including but not limited to:

(i) Banking transactions, including the ability to open, close, or maintain any bank account in Nina Renee Shaw’s name and to sign checks or other documents related to such accounts;

(ii) Investment transactions, including the ability to buy, sell, trade, or exchange any securities, bonds, or other investments in which Nina Renee Shaw had an interest;

(iii) Real estate transactions, including the ability to buy, sell, lease, or mortgage any real estate in which Nina Renee Shaw had an interest;

(iv) Insurance transactions, including the ability to purchase, modify, or terminate any insurance policy or annuity in XXXX name;

(v) Tax transactions, including the ability to prepare, sign, and file any tax returns or other documents related to Nina Renee Shaw’s tax affairs;

(vi) Bill payment, including but not limited to paying any outstanding bills related to the estate.

(b) To act on behalf of the principal in all legal matters related to the estate of XXXX, including but not limited to:

(i) Commencing, prosecuting, or defending any legal action or proceeding on the principal’s behalf;

(ii) Settling or compromising any legal claim or dispute in which the principal is involved;

(iii) Signing any legal document or agreement on the principal’s behalf, including but not limited to contracts, deeds, or releases;

(iv) Acting as the principal’s agent for any purpose relating to his interests in the estate.

(c) To receive and disburse any funds related to the estate of XXX on behalf of the principal, including but not limited to:

(i) Receiving any funds due to XXXX estate from any source, including salary, pension, or other benefits;

(ii) Paying any outstanding bills or expenses related to the estate, including but not limited to medical expenses, utilities, or taxes;

(iii) Depositing any funds into any account related to the estate of XXXX.

(d) To act as the principal’s agent in matters related to his interests in the estate of Nina Renee Shaw, including but not limited to:

(i) Managing and conducting any other business or financial matters related to his interests in the estate of Nina Renee Shaw as he would if he were personally present and able to act;

(ii) Making decisions on his behalf related to any legal or financial matters pertaining to the estate of Nina Renee Shaw.

[Insert other responsibilities the Agent is taking on if any]

  1. DURATION OF POWER OF ATTORNEY:

This power of attorney shall be effective immediately and shall continue to remain in effect even after the death of the principal.

  1. COMPENSATION:

The principal agrees to pay the agent five percent [5%] of any monies obtained from any legal judgments obtained on behalf of the estate.

  1. CONFIDENTIALITY:

The parties acknowledge and agree that all information exchanged between them, whether oral, written, or electronic, including but not limited to, any information regarding the business, financial, or technical affairs of either party, shall be considered confidential and proprietary. Each party agrees to hold such information in strict confidence, and not to disclose it to any third party without the prior written consent of the other party. The obligations of confidentiality shall survive the termination of this Agreement.

  1. TERMINATION:

This agreement shall remain in effect even after the death of the principal. All obligations and responsibilities under this agreement shall continue to be binding upon the parties until the completion of the Agent’s duties and responsibilities. Only the completion of these duties and responsibilities will terminate this agreement, except for those obligations that by their nature should survive termination, including but not limited to the confidentiality obligations set forth in this agreement.

  1. INDEMNIFICATION:

The principal agrees to indemnify and hold the agent harmless from any and all claims, actions, damages, or expenses arising out of the agent’s actions or omissions while acting as the attorney-in-fact under this Contract, except to the extent caused by the agent’s willful misconduct or gross negligence.

  1. DISPUTE RESOLUTION:

Any dispute arising out of or relating to this Agreement shall be resolved through mediation administered by the American Arbitration Association in accordance with its Commercial Mediation Procedures. If the dispute cannot be resolved through mediation, the parties agree to submit to the exclusive jurisdiction of the courts located in XXX.

  1. GOVERNING LAW:

This Contract shall be governed by and construed in accordance with the laws of the state of XXXX, and any legal action or proceeding arising out of or in connection with this Contract shall be brought exclusively in the courts of California.

  1. ASSIGNMENT:

The agent shall not have the right to assign this Contract to any other party without the prior written consent of the principal.

  1. NOTICE:

Any notice required or permitted to be given under this Contract shall be in writing and shall be deemed to have been given when delivered personally or sent by certified mail, return receipt requested, postage prepaid, or by email to the addresses set forth above.

  1. ENTIRE AGREEMENT:

This Contract constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the parties.

  1. AMENDMENT:

This Contract may be amended or modified only by a written instrument executed by both parties hereto.

IN WITNESS WHEREOF, the parties have executed this Power of Attorney Contract as of the date first written above.

SIGNED by the parties:                                   )

…………………………….                                         ) _________________

(XXX -PRINCIPAL)                  Signature

Date: ……………………….

AND

………………………………..                                   )_________________

(XXXX)                                     Signature

Date: ……………………….

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTARIZATION:

The Principal and the Agent hereby declare, under penalty of perjury, that the foregoing Power of Attorney Contract, consisting of six (6) pages, is true and correct to the best of their knowledge and belief.

The Principal and the Agent have executed this Power of Attorney Contract on the date and year first above written.

STATE OF CALIFORNIA

COUNTY OF LOS ANGELES

On this [date] before me, a Notary Public in and for said county and state, personally appeared Neziah Lee Green and Raina T. Shaw, known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written.

Notary Public: ___________________________

My Commission Expires: ___________________

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