The Morgan Stanley Power Attorney form is a legally binding document that permits an appointed agent the full discretionary authority to manage the securities account of the principal. This authorization enables the agent to engage in various transactions, including but not limited to, buying and selling securities, without the need for prior approval from the principal. Individuals are advised to understand the significant powers granted under this form and the potential implications before proceeding.
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The Morgan Stanley Power of Attorney form plays a crucial role in managing the financial affairs of individuals by granting an agent the authority to handle their security accounts with full discretion. This comprehensive form, designated for use with non-Morgan Stanley employees as agents, covers several fundamental aspects aimed at safeguarding the principal's financial interests while enabling the agent to conduct a wide range of transactions on their behalf. It outlines the powers granted to the agent, including but not limited to buying and selling securities, withdrawing funds, and managing lines of credit. Importantly, the form sets forth conditions that continue to apply despite the principal’s disability or incapacity, emphasizing the document's durability. It also underscores the necessity of understanding the legal implications of granting such broad powers, advising principals to approach with caution and full awareness. Furthermore, the form details the process of revocation, ensuring that principals retain ultimate control over their accounts by allowing them to terminate the power of attorney at any time, subject to the limitations and requirements stipulated by Morgan Stanley policy. The agreement entails an indemnification clause, protecting Morgan Stanley from liabilities arising from the agent's actions within the scope of the authorization, along with an arbitration acknowledgment aligning with the firm’s standard client agreement. This document, governed by the laws of New York State, incorporates provisions to maintain its effectiveness regardless of changes in the principal's condition, ensuring continuous management of the security accounts as intended.
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)
PAGE 1 OF 4
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.
PAGE 2 OF 4
LACDPFUL
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).
PAGE 3 OF 4
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.
PAGE 4 OF 4
NY CS 7319994 02/13
CLIENT’S COPY—KEEP FOR YOUR RECORDS
Filling out the Morgan Stanley Power of Attorney form is a critical step toward granting someone else the authority to manage your securities account on your behalf. This document empowers your chosen agent with significant powers over your financial affairs, so it’s crucial to fill it out with attention and precision. Below, you'll find a comprehensive guide to correctly completing this form. Carefully follow each step to ensure that your financial matters are managed according to your wishes.
Once completed and submitted, your form will undergo processing by Morgan Stanley. This will include verifying the details provided, ensuring compliance with their policies, and officially recording the granted authorizations. It's essential to keep a copy of the filled-out form for your records and to monitor your account closely to ensure that all actions taken by the appointed agent align with your expectations and instructions.
What is a Power of Attorney (POA) form with Morgan Stanley?
A Power of Attorney (POA) form with Morgan Stanley is a legal document that grants an appointed person or entity, referred to as the "Agent," the authority to manage securities accounts and financial affairs on behalf of the principal (the person who executes the POA). This document specifically allows for full discretionary authority, letting the agent make a wide range of financial decisions, including buying and selling securities, within specified Morgan Stanley accounts.
Who can be designated as an Agent under this POA?
An individual named by the account holder can be designated as an Agent under this POA. This individual will have the authority to act on the account holder's behalf in matters pertaining to Morgan Stanley accounts. It is important to note that Morgan Stanley policy prohibits its employees from being granted full discretionary authority under this form.
What powers does this POA provide to the Agent?
This POA provides the Agent with broad powers to manage the securities account(s) of the principal. These powers include the ability to buy and sell securities, transfer assets, endorse documents, and make payments from the account(s) or lines of credit available through Morgan Stanley and its affiliates. The Agent can also receive account statements and engage in almost all transactional decisions related to the specified accounts.
Is the POA durable, and what does that mean?
Yes, this POA is described as durable, meaning that it remains effective even if the principal becomes disabled, incapacitated, or incompetent after it is signed. The durable nature ensures that the Agent can continue managing the financial affairs without interruption, based on the authority granted by the POA.
How can the POA be revoked or terminated?
The principal can revoke or terminate this POA at any time by providing written notice to Morgan Stanley, addressed to the branch office servicing their account. However, it's important to remember that the revocation will not affect any transactions that were initiated before Morgan Stanley received the notice of revocation.
Who needs to receive a copy of this POA?
Upon executing the POA, a copy should be provided to Morgan Stanley and any other financial institutions or parties that will rely on the Agent’s authority to manage the principal’s affairs. The principal should also keep a copy for their records.
Does this POA apply to retirement accounts?
While this POA grants broad authority to manage financial accounts, it specifically does not include the power to change beneficiaries on retirement accounts, ensuring that such decisions remain with the principal unless otherwise legally amended.
What is required for the POA to be executed properly?
The POA must be signed by the principal in the presence of a notary public to ensure its legality and validity. Both the principal’s and the Agent’s signatures need to be notarized, and complete information regarding the Agent’s identity, experience, and affiliations must be provided.
What happens if the Agent is unable to serve?
If the appointed Agent is unable to serve, the principal should appoint a new Agent by executing a new POA form. It is advisable to consider naming a successor Agent in the original POA document to address this scenario proactively.
How does arbitration work under this POA?
The POA contains an arbitration agreement, meaning that any disputes that arise under the terms of the POA will be resolved through arbitration, as outlined in the Client Agreement. This is an important section as it outlines how legal disputes regarding the account or the actions taken by the Agent will be handled.
Are there any limitations on the Agent's authority?
While the POA grants comprehensive powers, it does not allow the Agent to make gifts of the principal’s funds or property. Additionally, Morgan Stanley is not required to monitor the purpose of transactions authorized by the Agent unless specifically stated in the POA.
Filling out the Morgan Stanley Power of Attorney form is an important but often misunderstood process. A common mistake is not providing complete account information, including the branch number, account number, and financial advisor number. This detail is crucial for identifying the specific accounts subject to the power of attorney.
Another frequent oversight involves the agent's details. The form requires the agent’s full name alongside the complete name of the account for which they are being designated as attorney-in-fact. Failing to accurately match these details can lead to processing delays or even the rejection of the form.
Many people mistakenly believe that this form grants the agent the authority to make gifts of funds or property from the account(s). However, the authorization explicitly does not provide this power, and Morgan Stanley is under no obligation to verify the nature of any instruction that involves transferring funds or property from the account(s).
Individuals often miss the requirement that this power of attorney is durable, meaning it remains in effect even if the principal becomes incapacitated. This significant legal implication requires careful consideration before executing the document, yet is frequently overlooked.
Revocation of this power is another area where mistakes occur. The process to revoke or terminate this durable power of attorney involves written notice to Morgan Stanley, addressed to the branch office servicing the account. Some fail to realize that revocation will not affect the liability for transactions initiated before Morgan Stanley receives this notice.
Failure to fully understand the broad powers granted to the agent is common. These powers include, but are not limited to, buying and selling securities, withdrawing money, and receiving account statements. The gravity and scope of these powers are sometimes underestimated or misunderstood by those who complete the form.
A critical detail often missed is the provision regarding arbitration. By completing this form, both the principal and the agent agree to Morgan Stanley’s arbitration provisions, which is an essential legal agreement that requires acknowledgment and understanding.
Moreover, there is a misunderstanding about the indemnity clause. The principal agrees to indemnify and hold Morgan Stanley harmless against liabilities that may arise from following the agent’s instructions. This legal protection for Morgan Stanley is sometimes overlooked by individuals completing the form.
Another common error is not recognizing the form’s jurisdiction and governing laws. This authorization and all its terms are governed by the laws of the State of New York, irrespective of the principal’s residence. Not understanding the legal implications of this jurisdiction can lead to unexpected outcomes.
Lastly, a frequent mistake is not correctly executing the document in front of a notary public. The form requires notarization for both the client's and the agent’s signatures to validate the authorization. Skipping or improperly completing this step can invalidate the entire form.
When utilizing the Morgan Stanley Power of Attorney (POA) form, it becomes crucial to understand and sometimes gather other forms and documents that complement or are necessary for the completion of the financial management process. These documents not only support the POA but ensure that all aspects of an individual's financial affairs are comprehensively managed. Below is a list of such forms and documents often used in conjunction with the Morgan Stanley Power of Attorney form.
Understanding how each of these documents interacts with the Morgan Stanley Power of Attorney form can provide clarity and ensure that an individual's financial and estate planning needs are effectively met. These documents collectively facilitate a seamless management of financial affairs, catering to various aspects of account maintenance, estate planning, and investment management.
The General Power of Attorney document is very similar to the Morgan Stanley Power of Attorney form, most notably in the broad authority it grants. Much like the Morgan Stanley document, a General Power of Attorney enables an individual, known as the principal, to grant someone else the authority to make financial decisions and transactions on their behalf. This can encompass buying and selling assets, managing bank accounts, and handling other financial matters. Both documents have significant legal implications and require the principal to fully trust the appointed agent with their financial matters. However, a key difference is that the Morgan Stanley form is specific to financial transactions related to the principal's account at Morgan Stanley, whereas a General Power of Attorney can apply to a broader range of financial affairs.
A Durable Power of Attorney for Healthcare shares the foundational principle with the Morgan Stanley Power of Attorney form in that it allows you to designate an agent to make decisions on your behalf. However, instead of financial decisions, this document applies to healthcare decisions. With a Durable Power of Attorney for Healthcare, the agent can make medical decisions for the principal if they are incapacitated and unable to do so themselves. While the Morgan Stanley form focuses on financial transactions and account management, the Durable Power of Attorney for Healthcare deals exclusively with medical issues, including treatment options, healthcare providers, and end-of-life care.
A Living Will, while different in purpose, shares the premise of acting on someone's behalf under specific conditions, much like the Morgan Stanley Power of Attorney form. A Living Will allows an individual to outline their wishes regarding medical treatment and life-sustaining measures should they become unable to communicate their decisions. Although it does not appoint an agent, it similarly takes effect under certain circumstances predetermined by the individual, just as the power of attorney may be activated when the principal is unable to manage their financial affairs.
The Limited Power of Attorney is another document that closely parallels the Morgan Stanley form, with the primary variance being the scope of authority granted. While the Morgan Stanley document provides broad and full discretionary power, a Limited Power of Attorney restricts the agent's authority to specific actions, timeframes, or transactions. For instance, it might only empower the agent to sell a particular property or manage certain accounts, unlike the Morgan Stanley Power of Attorney form, which allows for wide-ranging financial management activities.
Trust Agreements have a resemblance to the Morgan Stanley Power of Attorney form in their aim to manage assets, although they establish a fiduciary relationship where a trustee holds and manages assets for the benefit of the trust's beneficiaries. Like the agent in a power of attorney, a trustee makes decisions about the assets, including selling or transferring them. However, a Trust Agreement typically covers a broader estate planning strategy and involves managing assets for beneficiaries rather than allowing someone to manage your financial affairs on your behalf.
A Real Estate Power of Attorney is specifically tailored to real estate transactions, contrasting with the Morgan Stanley form's broader financial scope. This document allows an individual to grant someone else the authority to manage affairs related to property, including buying, selling, and maintaining real estate. Although it shares the concept of granting decision-making power, its focus is solely on real estate, distinguishing it from the comprehensive financial powers granted in the Morgan Stanley Power of Attorney form.
The Advance Healthcare Directive is akin to the Morgan Stanley form in its preparation for a scenario where the individual cannot make their own decisions. However, it specifically addresses healthcare decisions, combining elements of a Durable Power of Attorney for Healthcare and a Living Will by allowing individuals to appoint a healthcare agent and detail their medical treatment preferences. Unlike the financial orientation of the Morgan Stanley document, this directive focuses on ensuring an individual's healthcare wishes are followed.
Banking Power of Attorney documents are directly related, allowing the designated agent to perform a variety of banking transactions on the principal's behalf, including withdrawing funds, writing checks, and opening accounts. Despite their similarity to the Morgan Stanley form in granting financial powers, Banking Powers of Attorney are specifically limited to banking transactions, without encompassing the broader range of financial activities covered in the Morgan Stanley document.
A Business Power of Attorney permits an agent to make business-related decisions and actions for a principal, from entering contracts to managing financial transactions related to the business. While similar to the Morgan Stanley form in delegating authority, this type of power of attorney is specifically focused on the principal's business interests, contrasting with the more personal financial management scope of the Morgan Stanley form.
Lastly, a Financial Power of Attorney, like the Morgan Stanley Power of Attorney form, empowers an agent to manage the financial affairs of the principal. However, it generally covers a wider range of financial actions beyond managing specific investment accounts. It can include filing taxes, managing real estate assets, and engaging in other financial transactions. The Morgan Stanley document is a specific type of Financial Power of Attorney, with emphasis on securities and investment decisions within Morgan Stanley accounts.
When filling out the Morgan Stanley Power of Attorney form, it’s important to pay attention to both what you should and shouldn't do to ensure the process is smooth and the document holds the intended legal authority. Here are some key dos and don'ts:
Following these guidelines will help ensure that the Power of Attorney form is correctly filled out and legally valid, ensuring your assets are managed according to your wishes should you not be able to manage them yourself.
When it comes to the Morgan Stanley Power of Attorney form, there are several misconceptions that can confuse or mislead individuals. Understanding these misconceptions can help ensure that you are fully informed about the powers and limitations of this legal document. Here are ten common misconceptions and the truth behind each:
This document specifically relates to your Morgan Stanley account(s), allowing the agent to buy, sell, transfer, and manage these accounts according to the terms agreed upon. It does not provide control over all financial decisions or assets outside of what is detailed.
The form creates a durable power of attorney, meaning it is effective immediately upon signing and continues to be effective even if the principal becomes incapacitated, until it is revoked or terminated.
This power of attorney focuses solely on financial decisions related to the specified Morgan Stanley account(s) and does not cover health care decisions or any other types of decisions outside of financial matters within Morgan Stanley.
Morgan Stanley policy expressly does not allow its employees to be appointed with full discretionary authority over an account through this power of attorney.
The power granted by this form remains effective indefinitely unless revoked or terminated by the principal. It does not expire after a set period.
The principal has the right to revoke or terminate this durable power of attorney at any time by providing written notice to the branch office servicing the account.
Morgan Stanley and any applicable third parties can still require validation of the agent’s actions to ensure they are within the scope of authority granted by the power of attorney.
The document specifies that the agent will not be the sole recipient of statements and confirms for the account, ensuring transparency and allowing for oversight.
The authorization must be signed before a notary public, emphasizing the importance and legal nature of the document.
This power of attorney does not grant the agent authority to change designated beneficiaries on retirement accounts or other similar arrangements.
Understanding these points ensures that you recognize the boundaries and responsibilities assigned through the Morgan Stanley Power of Attorney form. Always make sure to read and comprehend every part of such important documents before signing.
When considering the Morgan Stanley Power of Attorney form, it is essential to understand the scope and implications of the authority it grants. Here are nine key takeaways that can help guide you through the process:
In summary, the Morgan Stanley Power of Attorney form is a powerful legal instrument that appoints an agent with significant authority over one's financial accounts and investments at Morgan Stanley. It is designed with safeguards, such as arbitration agreements and compliance obligations, to protect all involved parties. As with any legal document, especially one granting such broad powers, it is crucial to understand fully every provision before signing.
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