A Delaware durable statutory power of attorney form provides a way in which a person can choose another person to legally handle his or her financial affairs. A durable power of attorney continues in effect even if the principal (person assigning powers) is declared incompetent and unable to handle his or her own financial affairs.
This is an important legal document that should only be issued to appoint powers the principal can trust implicitly. It is generally recommended the principal precisely define the powers he or she wishes to grant.
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Laws
Title 12, Chapter 49A (Durable Personal Powers of Attorney)
Definition of “Durable”
“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity (§ 49A-102(2))
Definition of “Power of Attorney”
“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 (§ 49A-102(2))
Signing requirements
Must be signed in the presence of a notary public and one (1) witness that is not related by blood, marriage, or adoption or entitled to any portion of the principal’s estate through a Last Will and Testament, codicil, or trust. (§ 49A-105) Must contain the words: “This power of attorney shall not be affected by the subsequent incapacity of the principal,” or “This power of attorney shall become effective upon the incapacity of the principal,” or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent incapacity (§ 49A-104)
Statutory Form
Delaware does have a statutory form located at § 49A-301 of the Delaware Code.
How to Write
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Related Forms
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