The principal must sign, and a notary public must witness and sign the document ( § 21–2101). Definition of “Power of Attorney”Ī durable power of attorney is a power of attorney by which a principal designates, in writing, another as his or her attorney in fact and the writing contains the words “This power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time”, or “This power of attorney shall become effective upon the disability or incapacity of the principal”, or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity and, unless it states a time of termination, notwithstanding the lapse of time since the execution of the instrument ( § 21–2081). Title 21, Chapter 20, Subchapter 7 (Durable Power of Attorney) Definition of “Durable”Īll acts done by an attorney in fact pursuant to a durable power of attorney during any period of incapacity of the principal have the same effect and inure to the benefit of and bind the principal and his successors in interest as if the principal were not incapacitated ( § 21–2082). Afterward, the agent may begin acting on behalf of the principal by having a copy of the form and by signing any documents in the form of “ by acting as Agent”. It is required that the form is signed in the presence of a notary public.
The agent will be able to continue to make the financial powers listed in the form even after the principal should become incapacitated. durable power of attorney allows a resident (“principal”) to select someone else (“agent”) to handle any type of financial decision on their behalf.
0 kommentar(er)
