The Colorado durable power of attorney form (POA) is one of the best tools for delegating your authority. You can use it to delegate authority to transact and decide on financial matters to a trusted friend or family member. A power of attorney form authorizes them to represent and act for you when you’re absent or unable to do so for any reason. For example, they can transact and decide for you when you are sick or in a distant geographical location.
Your appointed representative becomes your agent or attorney-in-fact. Your position in this relationship makes you their principal, donor, or grantor. Your agent must act faithfully and promote your best interests, or you are authorized to revoke their trust. You may appoint them to manage, sell, or buy property for you.
This POA is an advanced version of a general power of attorney that expires upon your death or incapacitation. However, your agent remains active even after your death or disability. Either way, this legal instrument enables you to ease your life and focus on duties you can’t or shouldn’t delegate. It also provides others with an opportunity to serve and grow in responsible stewardship. So, it benefits both agents and their principals.
Colorado power of attorney templates – download more power of attorney forms for Colorado with guidelines.
Colorado Durable POA Requirements
Creating a durable financial POA in Colorado must follow specific legal requirements set in the Title 15-14 of Colorado’s Revised Statutes. For instance, only sane adults at least 18 years with the ability to enter into contracts can create a POA. The principal must also sign the document or appoint someone to do it for them in their physical presence and direction. The law deems the principal’s signature genuine if they acknowledge it before a notary public or other legally mandated persons.
Every durable POA must be in writing. It must identify and name the principal’s agent. Moreover, it must clearly define their authority.
A durable POA in Colorado becomes valid after being signed by two witnesses who saw the principal acknowledging their signature on it. It may also become legally binding if a donor opts to use a notary public to notarize it with their signature and official seal.
Filling out the Colorado Durable POA Form
You need to fill a Colorado durable POA form before creating it. Below is how you must fill the form.
Start by opening the form on this website and then downloading it for convenient future use. Afterward, provide all the necessary details of the parties involved in the POA. You must provide your full name and that of your preferred agent. Remember to give your agent’s full address and telephone number. You also need to name two alternative or successor agents to stand in for your primary agent during their absence, resignation, or firing. Remember to give their full contact details the way you did for the primary agent.
Set Limits to the Agent’s Authority
Next, you must define the scope and limits of the authority you are donating to your agent. For example, determine if you want them to deal in real estate, stocks, insurance, or retirement matters. Whatever the scope, ensure you define and qualify it clearly to avoid abuse and overstepping of boundaries. Otherwise, failing at this stage could cause you many avoidable and regrettable problems.
You will also provide additional instructions to restrict or add to the powers you want to donate to your agent. The form has a “special instructions” section to supply any instruction you hadn’t provided before. This section is optional if you had clarified everything earlier as you delegated your authority to an agent.
Stipulate the Agent
Lastly, you have to declare your nominated guardian. You will nominate such a guardian to care for your interests if a court of law finds it necessary to appoint one. The guardian may guard your person, estate, or both.
Here, you will write your first choice of guardian’s name. Also, you will furnish their telephone number and physical address. The form has room for two persons. So, remember to fill out similar details for your second choice.
Sign and Date the POA
You will also see a section for signature and acknowledgment. Here, you will append your signature, followed by your name, then your address, and your phone number. Afterward, you will indicate the date you signed the document.
Have Your POA Notarized
The next page is reserved for a notary public to verify and notarize the document before becoming legally binding. Remember, nobody else is legally mandated to complete that section, so follow all the notary’s instructions. The notary public will verify its signatures and seal your POA document with their official seal to notarize it.
You will now need to make copies of the document to give your appointed agent and their two substitutes. Remember to keep your copy safely.
Other Colorado Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- Florida durable power of attorney
- Georgia durable POA
- Illinois durable POA document
- Indiana durable power of attorney
- Kansas durable POA for financial matters
- Maryland durable POA form
- MA durable power of attorney
- Michigan durable power of attorney
- Missouri durable POA form
- NJ durable power of attorney
- NY durable power of attorney
- NC durable power of attorney
- Ohio durable POA for financial matters
- Oklahoma durable POA form
- Oregon durable power of attorney
- Pennsylvania durable POA form
- SC durable POA for financial matters
- Tennessee durable power of attorney
- Texas durable power of attorney
- Virginia durable POA form
- WA State durable power of attorney