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Alabama Durable (Financial) Power of Attorney Form

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Alabama Durable (Financial) Power of Attorney Form is a statutory document, under § 26-1A-301, that allows an individual to act in their place for broad or specific financial powers.  The form has the ‘durable’ use that remains in effect even if the principal is no longer able to make decisions for themselves due to mental instability. Therefore the agent selected should be someone who is able to be trusted and it’s recommended that it be a close family member or friend.

If the principal would like to instruct a second (2nd) or “successor attorney-in-fact” they may do so. This person may only be able to act on behalf of the principal in the event the first (1st) agent is not able to appear.

Laws§ 26-1A-301

Signing Requirements (§ 26-1A-105) – Principal is required to authorize in the presence of a notary public.


Medical Power of Attorney – Use to allow someone else to make health care decisions on your behalf.

How to Write

1 – Obtain the Paperwork

Locate the image on the right of this page. You may download the Alabama Durable (Financial) Power of Attorney using the buttons below this image. Select the appropriately labeled button for the file type you may use. For instance, if you have a PDF Editor, you may choose “PDF,” then open the form with your PDF Editing Program to enter information directly onscreen. Otherwise, you may print the form then fill in the information manually.

2 – Identifying the Parties

In the first (1st) section, “Designation of Agent,” the Name of the Principal must be supplied on the blank line labeled “Name of Principal.” This is the individual who will grant the Power of Attorney to an Agent(s) by virtue of this document once it has been Signed and Notarized.

 

The Name of Agent, including their Address and Telephone Number, must be reported on the blank lines labeled “Name of Agent,” “Agent’s Address,” and “Agent’s Telephone Number.”

If there is to be a Successor, or second (2nd) agent, enter their details followed a third (3rd) person if they are unable to act in your favor. Use the blank lines labeled “Name of Successor Agent,” “Successor Agent’s Address,” and “Successor Agent’s Telephone Number” to provide this information.

The blank lines designated as “Name of Second Successor Agent,” “Second Successor Agent’s Address,” and “Second Successor Agent’s Telephone Number” to provide the Identity, Location, and Contact Number for the Successor Agent.

3 – Granting Durable Financial Authority

If the Principal wishes to grant General Authority then he or she must Sign the blank line above the words “Signature of Principal.” The option of selecting specific topics where the Agent may act is provided in the next section. If this is preferred, the Principal must Initial only the Subjects the Agent is granted Authority in. If the Principal has not Signed the General Authority Signature Line, then he or she must Initial the appropriate areas where the Agent may Act in “Topics of Authority.”

3 – Topics of Authority

  • In the second section, “Grant of Special Authority”, the Principal must sign the document and initial next to each power they would like to grant to the agent including but not limited to:
  • Real Property as defined in § 26-1A-204,
    Tangible Personal Property as defined in § 26-1A-205Stocks and Bonds as defined in § 26-1A-206, the Principal will need to initial the third blank space  Commodities and Options as defined in § 26-1A-207, the Principal should initial the fourth blank space
    Banks and Other Financial Institutions as defined in § 26-1A-208, the Principal enter his or her initials on the fifth blank space. Operation of Entity or Business as defined in § 26-1A-209, the Principal must  the term “Operation of Entity…”Insurance and Annuities as defined in § 26-1A-210, the Principal must initial the seventh blank space Estates, Trusts, and Other Beneficial Interests as defined in § 26-1A-211, the Principal must submit his or her initials on the space just before the statement starting with “Estates, Trusts…” 
  • Claims and Litigation as defined in § 26-1A-212, the Principal enter his or her initials on the ninth blank space Personal and Family Maintenance as defined in § 26-1A-213, the Principal should place his or her initials on the space preceding the term “Personal and Family Maintenance…” Benefits from Governmental Programs or Civil or Military Service as defined in § 26-1A-214, the Principal must initial the eleventh blank space Retirement Plans as defined in § 26-1A-215, the Principal must initial the twelfth blank space Taxes as defined in § 26-1A-216, the Principal must provide his or her initials on the thirteenth blank space Gifts as defined in § 26-1A-217, the Principal must initial the last blank space 

4 – Actions of Authority

If the principal would not like the agent to handle acts for them they may initial next to the selected powers on Page 4.

5 – Conditional Instructional

If there are any special instructions the principal would like to make on the agent’s powers they may be written on the bottom of Page 5.

6  – Signature Parties

Afterward, the form should be signed in the presence of a notary public by the Principal. The Principal will need to provide his or her Signature, Signature Date, Printed Name, Address, and Telephone Number

The Notary Public will notarize this document by providing the items in the next section. The Preparer of this form should supply his or her name in the space provided below the Notarization Section.


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