Signing Requirements
The principal is required to authorize in the presence of a notary public.[2] The agent can also have their signature acknowledged on the Agent’s Certification, which is attached to the power of attorney.[3]
Powers Granted[4]
- Real Property as defined in Section 26-1A-204
- Tangible Personal Property as defined in Section 26-1A-205
- Stocks and Bonds as defined in Section 26-1A-206
- Commodities and Options as defined in Section 26-1A-207
- Banks and Other Financial Institutions as defined in Section 26-1A-208
- Operation of Entity or Business as defined in Section 26-1A-209
- Insurance and Annuities as defined in Section 26-1A-210
- Estates, Trusts, and Other Beneficial Interests as defined in Section 26-1A-211
- Claims and Litigation as defined in Section 26-1A-212
- Personal and Family Maintenance as defined in Section 26-1A-213
- Benefits from Governmental Programs or Civil or Military Service as defined in Section 26-1A-214
- Retirement Plans as defined in Section 26-1A-215
- Taxes as defined in Section 26-1A-216
- Gifts as defined in Section 26-1A-217
“Durable” Definition
“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity.[5]
“Power of Attorney” Definition
“Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used.[6]
Revocation
A durable power of attorney can be revoked when:[7]
- The principal terminates it with a revocation form;
- The principal dies;
- The agent dies; or
- Canceled by a fiduciary appointed by a court.
Statutory Form
Yes, the State of Alabama has a statutory form.[4]