A durable (financial) power of attorney is a document used to help individuals secure their finances. In some cases, the document’s creator (principal) will act due to a recently diagnosed illness or as they grow older. Other circumstances could call for an Oklahoma durable power of attorney form, like the need to execute a professional as attorney-in-fact to carry out business regarding tax documents or real estate owned by the principal. In any case, because the legal power of attorney form deals with the principal’s personal finances, they should choose their attorney-in-fact, making sure that they chose someone responsible and trustworthy.
Therefore, the powers granted to the selected attorney-in-fact vary, and in some cases, are limited to the principal’s specifications. The spectrum in which the attorney-in-fact can possibly include but is not limited to:
- The power to buy, sell, or refinance property assets
- The control of personal bank accounts
- Decisions to act on behalf of the principal regarding business
- Management of the principal’s assets
Oklahoma power of attorney templates – find out more about some other powers of attorney common in Oklahoma.
Because the chosen attorney-in-fact is granted the right to act on behalf of the principal—even if they are to become disabled mentally or physically—principals must specify, in detail, the areas within their personal finances in which they are allowed. In creating a legal Oklahoma durable power of attorney form, the principal will need to be sure and follow the guidelines outlined in the Oklahoma Signing Requirements § 58-1072.2. The mandatory minimum requirements are given below.
- The Oklahoma durable POA form should include:
- The full name and all information of the creator (principal)
- Details about the selected attorney-in-fact
- If applicable, information about a successor
- A list of powers granted to the chosen agent
2. As with any legal documents, the durable POA form must be created and signed according to the laws set forth by the state of Oklahoma. The principal needs to sign and date the POA only in the presence of a notary public.
3. Principals will need to keep in mind that if any property is involved, they must have it previously registered with the Oklahoma Registrar’s Office before the chosen agent can legally act in any way.
Filling out the Oklahoma Durable POA
When there is a need to draw up a form and given someone permission to take over financial decisions, principals can use our Oklahoma durable power of attorney form. Included are details as to what the form should include and blank spaces to ensure that all signatures are included.
Gathering of Paperwork
Before the principal starts to create the form, they should gather all necessary paperwork involved in the areas granted to the attorney-in-fact. This could include documentation of taxes, property, or banking accounts. All of this documentation will help set the POA terms.
Participants’ Information and Areas of Authority
The principal should indicate the chosen attorney-in-fact and their information. They will then have the option to specify the limitation of their power over their financial and business matters. Here, the principal can choose a professional in the field in which they need assistance, creating a temporary contract. On the contrary, they may choose someone that will have control over their accounts for the duration of their life, even if they are to become disabled or terminally ill.
Work with a Notary Public
For the proper completion and certification of the Oklahoma durable power of attorney form, the principal will need to be sure and abide by the signing requirements outlined in Oklahoma’s POA statutes. They state that the principal must sign and date the document in the presence of a notary public. This procedure will deem the document legally binding and allow parties to use it as per the document’s specifications.
To ensure that the form is available for use when needed, the principal should make copies for themselves and all parties included in the document. The POA will remain valid until the principal’s demise or until they choose to annul it.
Other Oklahoma Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- CO 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
- 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