Delaware Durable (Statutory) Power of Attorney Form

An agent under a personal power of attorney may do the following on behalf of the principal only if the personal power of attorney expressly grants the authority:^[3]

• Create, amend, revoke, or terminate an inter vivos trust, to the extent the principal has the authority to do so;
• Make a gift;
• Create or change rights of survivorship;
• Create or change a beneficiary designation;
• Delegate authority granted under the personal power of attorney when all successor agents have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve;
• Exercise fiduciary powers that the principal has authority to delegate;
• Reject, renounce, disclaim, release, or consent to a reduction in or modification of a share in or payment from an estate, trust, or other beneficial interest; or
• Exercise all rights and powers granted to a fiduciary under the Fiduciary Access to Digital Assets and Digital Accounts Act.^[4]

The power of attorney may grant the agent specific or general authority to manage the following:^[5]

• Real property;
• Tangible personal property;
• Stocks and bonds;
• Commodities and options;
• Banks and other financial institutions;
• Operation of entity or business;
• Insurance and annuities;
• Estates, trusts, and other beneficial interests;
• Claims and litigation;
• Personal and family maintenance;
• Benefits from governmental programs or civil or military service;
• Retirement plans;
• Taxes;
• Gifts.

“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity.^[6]

“Power of attorney” means a grant of authority to an agent to act in the place of the principal, whether or not the term power of attorney is used, authorizing the agent to convey rights in property of the principal to the agent or any other person.^[7]

A personal power of attorney terminates when:^[8]

• The principal dies;
• The principal revokes the personal power of attorney;
• A terminating event set forth in the personal power of attorney occurs;
• The purpose of the personal power of attorney is accomplished;
• The principal revokes the agent’s authority or the agent dies, becomes incapacitated, or resigns, and the personal power of attorney does not provide for another agent to act; or
• The personal power of attorney is revoked by order of the Court of Chancery.

An agent’s authority terminates when:

• The principal revokes the authority;
• The agent dies, becomes incapacitated, or resigns;
• An action is filed for the dissolution or annulment of the agent’s marriage to the principal, unless the personal power of attorney otherwise provides; or
• The personal power of attorney terminates.