Durable POA is one of the commonest types of power of attorney. It leaves an appointed agent or attorney-in-fact with complete control on the decisions of another individual or principal when the latter are unable to take the same. It generally comes into effect when the principal gets incapacitated or disabled, and expires as soon as the principal dies. Find out about the terms to include during durable power of attorney drafting.
He is a person who grants authority to an individual to act on his / her behalf, and take decisions, represent interests and more.
It indicates the individual or people who are bestowed with the authority.
These represent all that the appointed agent is authorized to handle on the principal’s behalf.
It shows when the Power of Attorney is to come into effect. For instance, a durable POA may get immediately effective while a Springing Power of Attorney can get valid only when the principal gets incapacitated. In that case, the POA document should clearly mention what is meant by ‘incapacitated’.
It means how long the durable power of attorney is to stay in effect, and when the appointed agent gets the authority to act on the behalf of the principal. In case the document is supposed to stay effective even after the incapacitation of the principal, it has to be clearly mentioned in the document.
It states whether or not the agent has the authority to give the assets of the principal as gifts. In that case, a limit on the monetary value of the gifts should be clearly defined. The document should also state who is eligible to get those presents.
Date of expiration
It is optional, but essential, if you would want the document to get invalid after a particular event or date.
The principal, attorney-in-fact(s), two witnesses and a public official or notary public in some cases are supposed to sign the document. You may download durable power of attorney NC or Arkansas power of attorney from the website- forms.legal