The Delaware Power Of Attorney is a method by which an individual can confer legal authority to an agent who will be expected take over certain tasks and/or functions that the individual would typically perform for himself or herself. That is, this “agent” can stand in the place of the person appointing him or her. The person creating the power of attorney is called the principal. Some examples of the functions an agent may be assigned to perform include real estate transactions, financial transactions or governmental transactions. It is worth considering that the agent has control over these important matters relating to the financial well being of the principal thus, it is important the principal selects someone he or she deems responsible and trustworthy. This appointment should be filled out in accordance with the Durable Personal Powers of Attorney Act (Title 12, Chapter 49).
Types
Durable Power of Attorney – This type of power of attorney continues in effect, even after a person can no longer make decisions for themselves.
General Power of Attorney – This form can be used in the event the principal is going to be away for a period of time but expects to return. It does not continue in effect in the event the principal becomes incapacitated.
Guardian of Minor Power of Attorney – This form allows parents to designate someone they trust to be in charge of their children for a limited period of time.
Limited Power of Attorney – A principal can use this form to appoint an agent to stand in for him or her for a specific transaction or limited circumstance.
Medical Power of Attorney (Advance Health Care Directive) – This advanced directive allows a person to choose a friend or relative who can represent him or her in healthcare decisions in the event the person can no longer communicate.
Power of Attorney Revocation – This form revokes a previously entered into POA. A third party must know of the revocation in order to be liable on any reliance on the POA.
Real Estate Power of Attorney – To elect someone else to handle real property to your benefit for a sale, purchase, and/or the everyday maintenance.
Tax Power of Attorney (Form 2848) – A person can appoint someone to represent them with the state tax authorities.
Vehicle Power of Attorney (MV-386) – A principal can assign an agent to represent them with the Division of Motor Vehicles.
How to Write
1 – Obtain The Appropriate Documentation
The form on this page will provide the required framework to present the information that must be conveyed to interested entities. Open and download the form utilizing the buttons below the image, review this paperwork, organize your references, then fill in the required information.
2 – Read The Acknowledgment Statement
The Principal must read the Acknowledgment Statement on the first two pages. Once these paragraphs have been read the Principal (the individual appointing power to another party) must sign his or her Name then provide the Date of Signature on the blank lines labeled “Principal” and “Date.”
3 – Declare The Identity and Contact Information Of The Agent
Below the “Designation of Agent” heading, report the Full Name of the Principal on the blank space labeled “Name of Principal.” This statement will name the following party as the Agent of the Principal’s Power.
Locate the blank spaces after the phrases “Name of Agent,” “Agent’s Address,” and “Agent’s Telephone Number” below the heading “Agent(s).” Enter the Full Name, Residential Address, and Daytime Telephone Number of the individual being granted Principal Power. Make sure this is a Complete Address that includes a Building Number, Street, any applicable Unit Number, City, State, and Zip Code.
Below the “Designation of Additional or Successor Agents (Optional)” heading, individuals who will automatically be granted Principal Power in the event the initial Agent cannot live up to his or her Principal Responsibilities. Utilize the spaces labeled “Name of Agent,” “Agent’s Address,” and “Agent’s Telephone Number” to define the Successor or Alternate Agents of Principal Power. Two Successor Agents may be named here, if there are more, then you may either edit the document or provide an attachment of the Agent Roster.
4 – Detail The Effectiveness of an Agent’s Principal Power
Next, you must define how the Principal expects his or her Agent(s) to interact if more than one has been named.
Three choices will be provided after the statement beginning with the phrase “If more than one Agent…”
If the Agents are to act one after the other mark the first blank space.
If the Agents are to act independently of one another, mark the second blank space.
If the Agents are to Act in unison, that is, they may not act independently then mark the third blank space.
The next step will be to determine when the Agent’s Principal Powers will be effective as a result of this form. This must be done by the power of the Principal’s Signature. If the Agent’s Principal Power is effective upon the execution of this form and remains intact if the agent is rendered incapable, the Principal must sign the first space after the words “You must sign ONE of these choices”
If the Agent’s Principal Power only becomes effective when the Principal is rendered incapable [as per 12 Del. C. § 49A-109C(c)], the Principal must sign his or her Name on the second blank space
5 – Approve The Powers Appointed To The Agent(s)
The portion of this document labeled “Grant of General Authority” will contain the necessary language to appoint an Agent Principal Power in various categories. This section will provide a list of categories or subjects of Principal Power the Agent may assume. In order for the Agent to assume and wield Principal Power in any of these categories, the Principal must provide approval via his or her initials.
If the Principal wishes to grant Authority in his or her Real Property, initial the first item.
To grant the Agent Power in Tangible Personal Property, the Principal must initial the second item.
The Principal will grant the Agent Authority over his or her Stocks and Bonds by initialing the third item.
The Principal should initial the fourth item to appoint the Agent authority in his or her Commodities and Options.
The Principal must initial the fifth item to appoint the Agent Authority regarding his or her Banks and Other Financial Institutions.
The sixth item will enable the Principal to Grant the Agent Principal Power regarding his or her Operation of Entity or Businesses when the Principal initials the blank space.
The seventh item must be initialed by the Principal if the Agent is to assume Principal Power over the Principal’s Insurance and Annuities.
If the Principal intends to grant the Agent Power over his or her Estates, Trusts, and Other Beneficial Interests, then he or she must initial the eighth item.
The Principal will appoint the Agent Claims and Litigation Powers (on his or her behalf) by initialing the ninth item.
Once the tenth item has been initialed by the Principal, he or she will appoint Personal and Family Maintenance Power to the Agent.
The eleventh subject must be initialed by the Principal so the Agent may attain authority over his or her Benefits from Governmental Programs or Civil or Military Service.
The Principal must initial the twelfth category to grant the Agent power over his or her Retirement Plans.
To grant the Agent Principal Authority over the Principal’s Taxes, then he or she must initial the thirteenth category.
The Principal should initial the last subject to appoint the Agent Principal Authority over his or her Gifts.
Next, it will be time to build upon the general powers just listed by specifically listing what the Agent may do with Principal Power in the initialed subjects above. A list of Specific Authority will be provided in the “Grant of Specific Authority” section. In a manner similar to the previous section of this document, only the Specific Powers bearing the Principal’s Initials will be appointed to the Agent.
The Principal will grant the Agent Power to Create, Amend, Revoke or Terminate an inter vivo Trust by initialing the first item in this list.
In order for the Agent to be gain the Authority to Make a gift as per the Durable Personal Power of Attorney Act, the second specific power on this list must be initialed by the Principal.
The third item should be initialed if the Principal wishes to grant the Agent the power to Create or Change rights of Survivorship.
The Principal should initial the fourth specific power to appoint the Agent Powers in Creating or Changing a beneficiary designation
The fifth specific power must be initialed if the Principal wishes to grant the Agent the Power to Delegate Authority should all other Agents no longer be able to serve their responsibility.
The Principal must initial the sixth power if he or she wishes the Agent to Exercise Fiduciary Powers under the Principal’s responsibility.
The Agent will be able to wield Principal Power to reject, renounce, disclaim, release or consent to a reduction concerning Estate, Trust, and Other Beneficial Interest payments.
6 – Determine The Status of Any Previous Authorities
The next section, titled “Revocation of Prior Power of Attorney,” will require the Principal to determine how the Powers in this document affect previously issued authority documentation. If the Principal plans on revoking all previous powers issued before the execution of this form, then he or she must initial the first choice.
If the Principal wishes all other Previous Powers to remain in effect, he or she must initial the second choice.
If there are other circumstances the Principal must initial the third choice, then use the area provided to specify the situation. Make sure to use the full Title of any Power Document being addressed.
7 – Finalize The Appointment of Principal Authority
The Principal must locate the statement beginning with “In Witness Whereof…,” then enter the Day, Month, and Year that he or she is signing this form.
Next, the Principal who is granting Power must sign his or her Name on the blank line above the words “Principal’s Signature.” Directly below this, the Principal’s Printed Name must be clearly entered.
The next area will allow for a Notary Public to verify the Witnessed Principal Singing and provide his or her seal. Only a Notary Public present at the signing may do this.
The area beginning with the words “State of Delaware,” is the Notarization Section. Only the Notary Public present may supply the items here.
The Agent must read the last remaining pages. This will contain important information as well as an Acknowledgment statement that he or she must tend to. Enter the Full Name of the Agent on the first blank line in the “Agent’s Certification” section.
The Agent must provide his or her Acknowledgment by reviewing the section “Agent Signature” line. Then entering the Date on the blank line adjacent to this.
