The Morgan Stanley Power of Attorney form is a legal document that grants an appointed agent the authority to manage your financial matters. This form allows the agent to make decisions on your behalf, including buying and selling securities, accessing funds, and handling various transactions. Understanding its implications is crucial, so consider filling out the form by clicking the button below.
The Morgan Stanley Power of Attorney form is a critical document that grants significant authority to an appointed agent, allowing them to manage financial matters on behalf of the principal. This form establishes a durable power of attorney, which means that the powers granted will remain effective even if the principal becomes incapacitated. The agent can perform a wide range of transactions, including buying and selling securities, managing lines of credit, and executing necessary documents. Importantly, the form clarifies that Morgan Stanley employees are not permitted to hold this authority, ensuring that the agent operates independently. Additionally, the principal retains the right to revoke this power at any time through written notice, though such revocation does not affect any prior transactions. The document also includes a warning about the broad powers being granted, emphasizing the importance of understanding the implications before signing. Overall, the Morgan Stanley Power of Attorney form is designed to facilitate seamless financial management while providing safeguards for both the principal and the agent.
For Internal Use Only
Branch No.
Account No.
Financial Advisor No.
Durable Power of Attorney Security Account
Full Discretionary Authorization
(Non-Morgan Stanley Employee)
his authorization is a full discretionary authorization. It empowers the Agent named herein to withdraw money, securities or other property in his or her own name, in the name of the principal(s) or otherwise. Morgan Stanley policy does not permit its employees to exercise full discretionary authority.
WARNING
his is an important legal document. It creates a durable power of attorney. Before executing this document, you should know these important facts:
a)his document may provide the person you designate as your attorney-in-fact with broad powers to dispose, sell, convey and encumber your property.
b)hese powers will exist for an indeinite period of time and will continue to exist notwithstanding your subsequent disability, incompetency or incapacity.
c)You have the right to revoke or terminate this durable power of attorney by giving us written notice addressed to the branch oice servicing your account. Such revocation shall not afect your liability for any transaction initiated prior to our receipt of said evocation.
To: Morgan Stanley Smith Barney LLC and applicable ailiates (“MSSB”)
1. he undersigned hereby appoints:
AGENT’S NAME
for the following account (complete name of account)
,
as the undersigned’s Agent and attorney-in-fact (“Agent”), with full and unlimited power and authority to act for the undersigned in
all matters in connection with the undersigned’s account/accounts or any available lines of credit at MSSB or its ailiates, however
designated and whether presently open or hereafter opened. Without limiting the foregoing general authority, the Agent is authorized
to buy and sell (including short sales) to subscribe for and trade in stocks, bonds, options (including uncovered short positions in
option contracts or in the uncovering of any existing short position in option contracts), limited partnership interests, trust units and
any other securities and/or contracts relating to the same, on margin or otherwise, in accordance with MSSB terms and conditions for
the undersigned’s account and risk in the undersigned’s name or number on MSSB books. It is further understood that any transaction
may be efected with MSSB as a principal or dealer or through MSSB as agent or broker as a principal or dealer, and that any such
transactions may involve securities in the distribution of which MSSB or its agent or broker may have an interest as an underwriter,
member of a selling group, or otherwise.
2.Without limiting the general authority of the foregoing, the Agent is further authorized to (a) deliver to MSSB securities for the undersigned’s account(s), and instruct MSSB to deliver securities from said account(s) to said Agent or to others, in such name and form, including the name of said Agent, as he or she may direct; (b) to instruct MSSB to make payment of money from my account(s) or to draw against lines of credit at MSSB or ailiates and to receive and direct payments therefrom payable to said Agent or to others including payment for any investment advisory fees or Power of Attorney Agent fees; (c) to sell, assign, endorse and transfer securities of any nature standing in the undersigned’s name and to execute any documents necessary to efectuate the foregoing; (d) to receive statements of transactions made for said account(s) and to approve and conirm the same; (e) to receive any and all notices, calls for margin, or other demands with reference to the undersigned’s account(s) and to enter into any and all agreements with MSSB on my
FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)
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LACDPFULNAO
behalf including the opening of additional accounts in my name. It is understood that pursuant to this authorization, the Agent may employ any electronic services provided by MSSB for which the undersigned has subscribed or for which the Agent has subscribed on the undersigned’s behalf, including but not limited to, on-line trading, bill paying, e-delivery and automatic funds transfer (AFT).
he undersigned agrees that the Agent will not be the sole recipient of statements and conirms for the undersigned’s account and that the undersigned or another authorized party who does not have trading authority over the account will receive duplicate conirms and statements for review.
his authorization does not give the Agent the authority to make gifts of funds or property but MSSB is under no duty to inquire into the nature of any instruction given by said Agent to deliver or transfer funds or property from the undersigned’s account(s).
3.In all matters relating to the undersigned’s account(s), MSSB is authorized to follow the instructions of the aforesaid Agent in every respect and MSSB shall be fully protected in relying upon said instructions without inquiry and without liability or accountability for the use or application of any securities or moneys delivered or paid pursuant to said instructions. he undersigned hereby agrees to release, indemnify and hold MSSB harmless from any and all liabilities that may arise by virtue of your following the instructions of said Agent and the undersigned hereby ratiies and conirms any and all transactions made with MSSB heretofore or hereafter made by such Agent. Any and all losses or debit balances due you arising from instructions or transaction given by said Agent shall be paid to MSSB promptly by the undersigned upon demand. If this authorization is connected to a retirement account it does not include the authority to change beneiciaries.
4.his authorization and indemnity is in addition to (and in no way limits or restricts) any rights which MSSB may have under any other agreement or agreements between the undersigned and MSSB.
5.To revoke this authorization, the undersigned hereby agrees to submit a written notice addressed to MSSB and delivered to the MSSB branch oice serving the account, but such revocation shall not afect any liability in any way resulting from transactions initiated prior to such revocation.
6.his authorization shall inure to the beneit of MSSB and of any successor entities or assigns and shall be binding on the undersigned’s heirs, successors or assigns.
7.Arbitration
he undersigned acknowledges that I have agreed to the arbitration provisions of the Client Agreement and that by appointing an Agent, that Agent will also be subject to those arbitration provisions.
8.his authorization and all the terms herein shall be governed and construed in accordance with the laws of the State of New York without giving efect to principles of conlict of laws and without regard for the principal(s) residence, domicile or place of execution. he statute of limitations applicable to any claim shall be that which would be applied by the courts of the state in which the undersigned resides or if the undersigned does not reside in the United States, the statute of limitations shall be that which would be applied by the courts in the state where the MSSB oice servicing the undersigned’s account(s) is located.
9.If any provision of this authorization is or becomes inconsistent with any applicable present or future law, rule or regulation, that provision will be deemed rescinded or modiied in order to comply with the relevant law, rule or regulation. All other provisions of this authorization will continue and remain in full force and efect.
10.his authorization shall not be afected by the subsequent disability, incapacity or incompetency of any of the undersigned nor by a lapse of time between its execution and exercise.
11.To induce any transfer agent or other third party to act hereunder, the undersigned hereby agrees that any transfer agent or other third party receiving a duly executed copy or facsimile of this instrument may act hereunder, and that revocation or termination hereof shall be inefective as to such transfer agent or other third party unless and until actual notice or knowledge of such revocation or termination shall have been received by such transfer agent or other third party. he undersigned for myself and for my heirs, executors, legal representatives and assigns, hereby agrees to indemnify and hold harmless any such transfer agent or third party from and against any and all claims that may arise against such transfer agent or other third party by reason of such transfer agent or third party having relied on this instrument.
12.he undersigned acknowledges receiving a copy of this authorization.
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CLIENT’S SIGNATURE(S)
THIS AUTHORIZATION MUST BE SIGNED BEFORE A NOTARY PUBLIC
his authorization contains a predispute arbitration acknowledgement at paragraph 7 on page 2.
CLIENT’S NAME (PRINT)
CLIENT'S SIGNATURE
DATE
State of
SS
(SEAL)
County of
On this
day of
20
before me personally appeared
and
known to me to be the individual(s) described in and who
executed the above instrument, and acknowledged to me that he/she/they executed the same.
SIGNATURE OF NOTARY PUBLIC
he information which follows pertains to the AGENT:
A.Is Agent an INVESTMENT ADVISER registered with the SEC or a State? If Yes
Registered with the SEC
SEC NUMBER
Yes
No
Registered with a State
StateFile NumberEfective Date B. If Agent is a Registered Investment Adviser, disregard this Section B.
AGENT’S DATE OF BIRTH
AGENT’S HOME ADDRESS
CITY, STATE AND ZIP CODE
AGENT’S PRIMARY TELEPHONE NUMBER
AGENT’S ALTERNATE TELEPHONE NUMBER
AGENT’S EMAIL ADDRESS (OPTIONAL)
Investing Experience (Year Since) If no experience mark N/A:
EQUITIES FIXED-INCOME OPTIONS COMMODITIES
Are you or a member of your household ailiated with or employed by a broker-dealer?
If YES, you will need a written authorization from that broker/dealer to have trading authority over this account (NYSE 407 letter).
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Agent Certiication:
Neither you nor any other person who has authority over the Account is or has been a Politically Exposed Person,1 also known as a senior foreign political igure or an immediate family member or close associate of a senior foreign political igure within the meaning of the U.S. Department of the Treasury’s Guidance on Enhanced Scrutiny for Transactions hat May Involve the Proceeds of Foreign Oicial Corruption and as referenced in the USA PATRIOT Act. In addition, you represent that neither you nor any other person who has authority over the Account is a corporation, business or other entity that is beneicially or majority owned or controlled by the senior foreign political igure. If you or any other authorized person on the Account is or has been such a igure, you agree to disclose that fact to MSSB and provide the necessary information required by law to open and/or to service this Account. You also represent that this Account will not be used for any transactions with, or for the beneit of, any person, entity or country that is the subject of any sanctions administered or enforced by the U.S. Treasury Department’s Oice of Foreign Assets Control (“OFAC”), including, but not limited to, any person, or entity designated on OFAC’s List of Specially Designated Nationals.
AGENT’S AGREEMENT AND AFFIDAVIT. THIS AGREEMENT AND AFFIDAVIT MUST BE SIGNED BEFORE A NOTARY PUBLIC
By signing below, I, the Agent for the principal(s) named herein, accept this appointment and agree to be bound by the terms of this authorization and the Client Agreement executed by the principal(s) including the provisions for arbitration of disputes. I also represent that the Agent certiications are true and accurate. Being irst duly sworn, I do hereby state that this authorization was executed by
the principal(s) at a time when he or she was legally competent to perform such act and that it has not been terminated by any means including voluntary revocation or death of the principal(s).
his authorization contains an arbitration acknowledgement at paragraph 7 on page 2.
NAME OF AGENT (PRINT)
SIGNATURE OF AGENT (INDIVIDUAL TO WHOM AUTHORIZATION IS GRANTED)
Subscribed and sworn to before me this
before me personally
appeared
known to me to be the
individual(s) described in and who executed the above instrument, and acknowledged to me that he/she/they executed the same.
For MSSB Internal Use Only
APPROVED BY BRANCH MANAGER
1 For the purposes of this paragraph, a “Politically Exposed Person” is a current or former senior oficial in the executive, legislative, administrative, mili- tary or judicial branch of a foreign government (whether elected or not), a senior oficial of a major foreign political party, a senior executive of a foreign government-owned corporation or a corporation, business or other entity formed by, or for the beneit of, such a igure. The term “politically exposed person” includes a current or former senior foreign political igure’s “immediate family,” which includes, but is not limited to, parents, siblings, children and in-laws; “close associate,” which means a person who is widely and publicly known to maintain an unusually close relationship with a senior foreign political igure, including a person in a position to conduct substantial domestic and international inancial transactions on behalf of such igure. For a fuller discussion of the preceding terms and deinitions, see http://www.federalreserve.gov/boarddocs/srletters/2001/sr0103.htm.
© 2013 Morgan Stanley Smith Barney LLC. Member SIPC.
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NY CS 7319994 02/13
CLIENT’S COPY—KEEP FOR YOUR RECORDS
Filling out the Morgan Stanley Power of Attorney form is a straightforward process that requires careful attention to detail. This document grants significant authority to an appointed agent, allowing them to manage financial matters on your behalf. Ensure that you understand the implications of this authorization before proceeding.
After completing these steps, submit the form to Morgan Stanley as instructed. The authorization will then be processed, allowing your agent to act on your behalf as specified.
What is the purpose of the Morgan Stanley Power of Attorney form?
The Morgan Stanley Power of Attorney form is a legal document that grants a designated individual, known as the Agent, the authority to manage your financial affairs on your behalf. This includes the ability to make transactions, manage investments, and handle other financial matters related to your account at Morgan Stanley. It is particularly useful if you are unable to manage these affairs yourself due to absence, incapacity, or other reasons.
What powers does the Agent have under this authorization?
The Agent is empowered with broad authority to act on your behalf. This includes the ability to:
However, it is important to note that the Agent cannot make gifts of your funds or property without your explicit consent.
Can I revoke the Power of Attorney once it is established?
Yes, you retain the right to revoke or terminate the Power of Attorney at any time. To do so, you must provide written notice to Morgan Stanley, specifically addressing the branch office servicing your account. It's essential to understand that revocation will not affect any transactions that were initiated prior to Morgan Stanley receiving your notice of revocation.
What happens if I become incapacitated?
The powers granted to the Agent under this document will remain in effect even if you become incapacitated, disabled, or incompetent. This durability ensures that your financial affairs can continue to be managed without interruption. However, you can still revoke the authority as long as you are legally competent to do so.
Is this document legally binding?
Yes, the Morgan Stanley Power of Attorney form is a legally binding document. It creates a durable power of attorney, which means it is enforceable under the law. The document must be executed properly, often requiring notarization, to ensure its validity. Additionally, the terms of the authorization will be governed by the laws of the State of New York, regardless of where you reside.
Filling out the Morgan Stanley Power of Attorney form can be a straightforward process, but several common mistakes can lead to complications. One significant error is not providing complete and accurate information about the agent. When designating an agent, it is crucial to include their full name, date of birth, and contact details. Incomplete information may result in delays or even the rejection of the form.
Another common mistake involves misunderstanding the scope of authority granted to the agent. Many people assume that the agent has limited powers, but this form provides full discretionary authority. This means the agent can make significant financial decisions on behalf of the principal. Failing to comprehend this can lead to unintended consequences, especially if the principal later disputes the agent's actions.
Additionally, people often neglect to sign the document in the presence of a notary public. The Morgan Stanley Power of Attorney form requires notarization to be valid. Without proper notarization, the document may not be recognized by financial institutions, rendering it ineffective. This step is essential to ensure that the authority granted is legally binding.
Another frequent oversight is not revoking the previous power of attorney if one exists. If the principal has previously granted power of attorney to another individual, it is vital to formally revoke that authorization before executing a new one. Failing to do so can create confusion and potential legal issues regarding which agent has the authority to act.
Finally, individuals sometimes overlook the importance of keeping a copy of the signed and notarized document. After completing the Morgan Stanley Power of Attorney form, it is essential to retain a copy for personal records. This ensures that both the principal and the agent have access to the document, which can be crucial in case of disputes or questions about the agent's authority in the future.
The Morgan Stanley Power of Attorney form is a critical document that grants an agent the authority to manage an individual's financial matters. Alongside this form, several other documents often play a significant role in ensuring comprehensive financial management and legal compliance. Below is a list of additional forms and documents that may be used in conjunction with the Power of Attorney.
Utilizing these documents in conjunction with the Morgan Stanley Power of Attorney form can provide a robust framework for managing financial and health-related decisions. Each document serves a unique purpose, and together, they help ensure that an individual's wishes are honored and that their interests are safeguarded.
When filling out the Morgan Stanley Power of Attorney form, it is important to follow certain guidelines to ensure accuracy and compliance. Below is a list of things to do and avoid during this process.
This form can be beneficial for anyone who wants to ensure their financial matters are managed in case they become incapacitated. It is not exclusive to high-net-worth individuals.
In fact, individuals have the right to revoke or terminate the Power of Attorney at any time by providing written notice to Morgan Stanley. This flexibility allows for changes in circumstances or preferences.
The Power of Attorney explicitly states that the Agent does not have the authority to make gifts of funds or property. This limitation helps protect the principal’s assets.
The form grants authority to the appointed Agent, not Morgan Stanley. The firm acts on the instructions of the Agent, who manages the account on behalf of the principal.
While legal advice can be beneficial, individuals can complete the form themselves as long as they understand the terms and implications. Clarity about the responsibilities of the Agent is crucial.
This document is designed to be durable, meaning it remains in effect even if the principal becomes incapacitated. This feature ensures that financial matters can still be managed effectively.
While the Agent has broad authority, the principal or another authorized party will still receive statements and confirmations, ensuring some level of oversight on transactions made.
This form can apply to various financial matters, not just investments. It includes authority over lines of credit and other financial transactions, making it a versatile tool for managing finances.
Key Takeaways for the Morgan Stanley Power of Attorney Form