Purpose:
Names the person you wish to grant power to manage your financial affairs and make decisions on your behalf.
Notes:
- Must be notarized AND recorded at the county clerk’s office.
- Allows for an alternate to be named if the original agent is unable to perform the stated duties.
- Does not authorize anyone to make medical and other health care decisions for you.
- Provides a list of duties and allows one to limit the financial/legal powers the agent has rights to perform on your behalf.
- Documents ones preference regarding the named agent’s gift giving power.
- Allows to write in special instructions limiting or extending the powers granted to your named agent.
- Unless stated in special instructions, this document takes effect immediately.
- Gives 2 options regarding disability or incapacity (option #1 is recommended to avoid process of determining guardian in case of incapacity):
- 1. Power of attorney is not affected by your subsequent disability or incapacity
- 2. Power of attorney becomes effective upon your disability or incapacity (this requires guardianship documentation).
Download the Template:
Statutory Durable Power of Attorney