Updated September 21, 2022
An Alaska durable (statutory) power of attorney gives a person the ability to transfer their individual monetary and business rights to someone else. The principal should know the full capacity to which the power they are giving their agent by reading the form and initializing where necessary. In addition, the principal should be advised that the power they are giving the agent remains in force even if they should become incapacitated (not legally able to make decisions any longer on their own) unless otherwise is stated.
Table of Contents |
Versions (2)
Download: Adobe PDF, MS Word, OpenDocument
Download: Adobe PDF
Laws
Title 13, Chapter 26 (Protection of Persons Under Disability and Their Property; Powers of Attorney)
Signing Requirements
The principal must have their signature acknowledged in the presence of a notary public (Sec. 13.26.600).
Statutory Form
The statutory form can be found in Sec. 13-26-645 of the Alaska Statutes.
How to Write
Download: Adobe PDF, MS Word, OpenDocument
I. Introduction
(1) Name Of Principal. The first paragraph requires that the Principal intent on authorizing one or more Agents to act on his or her behalf concerning predetermined matters is identified by name. Locate the first empty line then submit the Alaska Principal’s entire legal name as its content. This should be the name found on his or her Government-issued I.D. (i.e. State Driver’s or Non-Driver’s ID).
(2) Address Of Principal. The second empty line displayed in the introduction seeks an entry of the Principal’s home address. This should be the physical address where the Principal can be found and can receive all his or her mail, paper correspondence, and notices.
(3) Name And Address Of Each Agent. This document must clearly identify each Agent (or Attorney-in-Fact) who will be granted the authority to make decisions over the Alaska Principal’s assets, property, and status. The full name and the complete address of the Party the Alaska Principal will grant authority to must be supplied to the empty line labeled “Name And Address Of Agent Or Agents.” If more room is needed because more than one Alaska Agent must be given power in this document, then an attachment with the name and address of each Alaska Agent may be developed and affixed to this document before signing. Such an attachment should be labeled appropriately and made a part of this document before the Alaska Principal’s signature is supplied. Only provide the name and address of each Agent who should be able to utilize principal power when they become accessible. The ability to name Alternate or Back-up Agents will be available at the end of this paperwork but should also be completed before the Alaska Principal produces his or her notarized signature.
II. Granted Powers Of Attorney
(4) Real Estate. A list of definitive topics, each describing a different category of authority the Alaska Principal may deliver to the Agent, must be reviewed by the Principal. Only the topics whose “Yes” checkboxes have been marked with an “X,” marked with a checkmark, or clicked (onscreen) will be considered placed in the scope of the principal power being granted to the Agent. If an item is left unattended, then the Agent will be unable to act with principal authority in that category. The first such topic will be “Real Estate Transactions.” If the Alaska Principal wishes to grant the Agent the authority needed to determine and conduct transactions concerning real property, then the “Yes” checkbox in Statement (A) must be selected.
(5) Tangible Personal Property. Statement (B) handles the topic of physical property, chattels (livestock), and physical goods that can be purchased, sold, and maintained by the Principal. Should the Alaska Principal intend to grant his or her authority over such property to the Agent then choose the “Yes” checkbox attached to this statement. For example, if the “Yes” box has been selected in Statement (B), then the Agent will have the authority to perform actions such as buying or selling personal property on behalf of the Alaska whereas if this box is not selected, then the Agent will not be granted such authority.
(6) Bonds, Shares, And Commodities. The authority possessed by the Alaska Principal to conduct transactions with “Bonds, Shares, And Commodities” can be granted to the Agent by marking the “Yes” checkbox found in Statement (C). By marking the “Yes” box, the Alaska Principal will give the Agent the authority to purchase (or sell) stock in the name of the Alaska Principal.
(7) Banking. The ability to decide upon and engage in “Banking” transactions using the Principal’s authority can be designated to the Agent if the “Yes” checkbox in Statement (D) is selected. An example of “Banking” powers include opening or transferring principal funds from one account to another.
(8) Business Operations. Statement (E) enables the Alaska Principal to authorize the Agent to act in his or her stead with “Business Operating Transactions.” To grant such power to the Agent, the “Yes” box in Statement (E) must be selected or marked. If this checkbox is left unmarked, then the Agent will not possess the principal authority needed to make decisions or engage in any actions over the Alaska Principal’s business.
(9) Insurance. If the Agent must have the principal power to conduct the “Insurance Transactions” available or required by the Alaska Principal then the “Yes” box must be selected from Statement (F).
(10) Estate. The Alaska Principal can authorize the Agent’s use of principal power to conduct transactions for or with the Principal’s “Estate” by marking the “Yes” box in Statement (G). Bear in mind that since this (and other) categories are so broad, the option to attach a document containing limitations to the principal authority granted to the Agent may be furnished to this paperwork. For instance, the Alaska Principal may wish the Agent to have the authority to handle matters in his or her estate but only under certain circumstances. This intent would require that the “Yes” box is marked and an attachment with any specific instructions regarding the principal estate powers given is made a permanent part of this document before it is signed.
(11) Retirement Plans. The transactions required to manage the Principal’s “Retirement Plans” (i.e. a 401k plan) can be placed within the Agent’s scope of principal powers by marking the “Yes” checkbox from Statement (H). If the Alaska Principal does not intend to allow the Agent to exercise principal authority in this matter then, Statement (H) should not be approved.
(12) Claims And Litigation. The Principal’s “Claims And Litigation” actions can be decided upon and handled by the Alaska Agent should the “Yes” box be selected in Statement (I). For instance, if the Alaska Principal expects the Agent to hire and maintain the services of an Attorney in his or her name then the Agent must be given the principal authority to do so through his or her approval of this statement.
(13) Personal Relationships And Affairs. Naturally, the Principal may need to uphold his or her responsibilities in his or her “Personal Relationships And Affairs” (i.e. alimony payments). If the Agent should be authorized to use principal power to uphold the Principal’s obligations in personal matters then mark the “Yes” box in Statement (J).
(14) Government, Civil, Or Military Benefits. The power to take action with the benefits that the Principal receives or is eligible to receive from the government, civil, or military sectors can be included in the principal authority given to the Agent by selecting “Yes” in Statement (K).
(15) Records, Reports, And Statements. The Alaska Principal’s “Records, Reports, And Statements” can be accessed and managed by the Agent only if the Agent is given the authority to do so. The “Yes” box found in Statement (L) must be marked or selected to grant the Agent the principal power needed to handle such material with the same authority as the Alaska Principal.
(16) Voter Registration And Absentee Ballot Requests. The Principal’s right to register to vote or request an absentee ballot can be exercised by the Agent on behalf of the Principal through the content of Statement (M). For the Alaska Agent to have such principal authority, the “Yes” box must be selected.
(17) All Other Matters. There may be other subject matters in which the Alaska Principal intends to grant the Agent the authority needed to act in his or her name. If so, then Statement (N) requires confirmation by selecting the “Yes” box. If this is the case, then it is strongly recommended that a list of the actions and decisions the Alaska Principal authorizes the Agent to conduct with principal power be attached to this document, properly titled, dated, and signed by the Alaska Principal.
III. Grant Of Specific Authority
(18) Inter Vivos Trust. If the Principal expects or possesses authority in an inter vivos trust and wishes to grant the Agent the same principal authority that can be exerted by the Principal, then the “Create, Amend, Revoke, Or Terminate An Inter Vivos Trust” checkbox must be selected.
(19) Make A Gift. The principal authority to “Make A Gift” can be granted to the Agent (within the confines of AS 13.26.665(q)) by marking the second checkbox statement.
(20) Beneficiary Designations. Select the third checkbox if the Agent should be authorized to create or manage the beneficiary designation(s) made by the Alaska Principal.
(21) Revoke A Transfer On Death Deed. If the Alaska Principal has or will set a deed transfer upon death that the Agent should be given the authority to revoke (in the future) or transfer, then the fourth checkbox statement must be marked.
(22) Rights Of Survivorship. The Principal’s “Rights Of Survivorship” can be created or altered by the Agent only if the fifth checkbox statement is marked.
(23) Delegation Of Granted Authority. If the Principal holds the title of Attorney-in-Fact in a separate document and wishes the same authority he or she has been or will be granted to be included in the scope of principal powers this document assigns to the Alaska Agent(s) named in the introduction, then the sixth statement must be selected.
(24) Waiving The Principal’s Right Of Beneficiary Status. The seventh statement of specific powers will give the Agent the principal authority to waive, forfeit, or reject the Principal’s right to be assigned a Beneficiary status of a separate estate if its corresponding checkbox is selected.
(25) Exercise Fiduciary Powers. If the Alaska Principal’s fiduciary powers should be accessible to the Agent so that the Agent may make and engage in decisions over a trust with the same power available to the Alaska Principal, then select the eighth checkbox statement.
(26) Electronic Communications. Naturally, it is important to keep in mind that communication can be transferred, received, or transmitted electronically. The Agent’s ability to access and work with electronic communication to the Principal, from the Principal, and concerning the Principal requires specific authorization from the Alaska Principal. The final checkbox statement should be selected from the list of specific powers in order to grant such authority to the Alaska Agent.
IV. Additional Agent Status
Select Item 27 Or Select Item 28
(27) Individual Execution Of Power. As mentioned, this designation of authority may be granted to more than one Agent. In such a scenario, the ability of each Agent to act independently with principal power must be established or formally regulated. If each Agent named in the introduction may engage the use of principal power without consulting or seeking approval of the other Agents then select the checkbox preceding the words “Each Agent May Exercise…” from the area titled “If You Have Appointed More Than One Agent.”
(28) Joint Execution Of Power. If more than one Agent has been authorized to wield the same authority as the Alaska Principal and all Agents must consult and agree upon a principal action before it can be taken, then select the “All Agents Shall Exercise Powers Conferred Jointly…” statement’s checkbox.
V. Effective Date
Select Item 29 Or Select Item 30
(29) Upon Execution. If the Agent will be allowed to access and wield the Alaska Principal’s authority as soon as the Alaska Principal executes this paperwork by signature, then seek out and select the first checkbox statement from the section titled “To Indicate When this Document Shall Become Effective…” It should be mentioned that some further discussion will be needed in a later section if this is the case.
(30) Upon Incapacity. If the authority this document authorizes only becomes effective after the Alaska Principal has properly executed it and he or she has been medically (and formally diagnosed) as incapacitated, then select the second checkbox statement.
VI. Incapacity
Select Item 31 Or Select Item 32
(31) Durable Authority. If the delegation of principal powers in this document will remain in effect even in the event that the Alaska Principal is deemed and formally diagnosed by a Physician as being physically incapacitated, mentally incapacitated, or both then select the statement ending with the phrase “…Not Be Affected By My Subsequent Incapacity.”
(32) Affected By Incapacity. If the Alaska Principal is diagnosed by a Physician as being mentally or physically incapacitated and the effect of this document must be terminated immediately upon such a prognosis then select the checkbox statement ending with the term “…Shall Be Revoked By My Incapacity”
VII. Term Limit On Powers
(33) Years Of Effect. In a case where the powers being delegated to the Alaska Agent become accessible and active upon the Principal’s signature, a time limit of effect can be set. This is optional but may be useful depending upon the needs of the Alaska Principal and the circumstances he or she anticipates. To set a time limit to the powers delivered here, enter the number of years they will remain in effect after the Principal has executed this paperwork. Once this number of years has passed from the time of the Alaska Principal’s execution of this document, it will be considered automatically revoked.
VII. Execution OF Designation
(34) Date Of Signature Execution. The Alaska Principal must review this instrument to deliver his or her principal power for accuracy then gather with a licensed Notary Public to sign this paperwork. To begin the execution process of this paperwork, the Alaska Principal must record the current date on the day he or she signs his or her name.
(35) Signature Of Principal. The Alaska Principal must sign his or her name on the “Signature Of Principal” line under the direction of the Notary Public serving this execution.
(36) Acknowledgment Of Attending Notary. In order for the Notary Public to be considered a reliable witness, he or she must complete the notarization process by verifying the Alaska Principal’s date of signature then submit his or her own signature.
(37) Date Of Representative Signature. In some cases, the Alaska Principal may not be able to physically sign this delegation of power. If so, then he or she may elect another Party to sign this paperwork into effect on his or her behalf to show the acknowledgment and approval of the Alaska Principal behind it. When the Signature Representative is ready, he or she should report the date of his or her signature to the spaces provided.
(38) Signature Representative. The Signature Representative of the Alaska Principal must sign his or her name on the line following the phrase “…Signing At The Request Of Principal” while a Notary Public observes this action then supply the printed version of his or her name directly below his or her signature.
(39) Signature Representative Identification. The I.D. document shown by the Signature Representative must be presented on the line labeled “Form Of Identification Of Person Signing.” For instance, if the Signature Representative has provided his or her Driver’s License, then the type of ID presented, its State where it was issued, the license number it displays, and its expiration date should be displayed here.
(40) Notary Acknowledgment Of Signature Representative. The Notary Public will produce a record of the current date as well as his or her signature where requested to demonstrate that the notarization process has been completed.
(41) First Alternate Or Successor Agent. An additional area has been provided should the Alaska Principal have decided that an Alternate Agent should be named to replace the original Agent or Agents in case any of them step down, have their principal authority revoked, or become unreachable for an extended period of time. The First Alternate Agent will not be able to wield principal power unless one of the Primary Agents named during the introduction fails or refuses to act in this role or has had his or her authority to wield principal power revoked. If this happens, then the First Alternate Agent will be the first Party approached to accept the responsibility of wielding principal authority. To set a First Alternate Agent as a precautionary measure, document his or her full name and address to the line just below the phrase “First Alternate Or Successor Agent” before this document is signed by the Alaska Principal (or a Signature Representative).
(42) Second Alternate Or Successor Agent. There may be a scenario where the Primary Agent(s) as well as the First Alternate Agent(s) set to assume the Primary Agent role are both unable to act in this capacity. If the Principal decides to take the precaution of naming a Second Alternate Agent, then the blank line labeled “Name And Address of Alternate” must be supplied with the complete name and address of the Second Alternate Agent. As with the First Alternate Agent, the Second Alternate Agent will not be allowed to act with principal power unless those appointed beforehand are unable or unwilling to act in this capacity.
(43) Optional Conservator Or Guardian Nomination. If the Principal has been incapacitated, the courts may decide to formally appoint a Conservator over the Alaska Principal’s estate or a Guardian over the Alaska Principal’s body. This document provides the option of allowing the Alaska Principal to nominate a Person(s) to fill the role of Guardian, the Conservator role, or both. To engage this option, the full name of this nomination must be supplied to the space provided in the final paragraph for the consideration of the courts. This report should be made before the Alaska Principal signs this paperwork.
Related Forms
Download: Adobe PDF, MS Word, OpenDocument
Download: Adobe PDF, MS Word, OpenDocument