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Hawaii Durable (Financial) Power of Attorney Form

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Hawaii Durable (Financial) Power of Attorney Form can be used to grant authority to another person expected to handle your financial affairs, property, and assets. It is imperative that you review the form carefully as you are delivering control over your property and assets to another person. It is important that you appoint someone you trust implicitly to act in your best interests. This type of form is called “durable” because it continues or goes into effect when the principal becomes unable to make everyday decisions for themselves.

Laws – § 551E‑51


Advance Directive (Medical POA) – Allows the principal to allow an agent the authority to make health care decisions on their behalf.

How to Write

1 – Gain Access To the Durable Power Form

The appropriate form can be opened or saved by clicking on one of the buttons corresponding to the file image.

2 –  Introduce The Parties This Authority Concerns

The first statement of this form will have several defined blank spaces. Each one must have the item it requires supplied. Begin by reporting the “Name of the Principal” on the first empty line.

The space titled “Name of Agent,” must have the Legal Name of the Agent who will accept the designation of Power entered. This should be followed by the “Agent’s Address” on the line below

Finally, complete the Agent report by supplying the “Agent’s Telephone Number.”

If a Successor Agent will be named to assume Principal Authority if the Primary Agent cannot (or will not), this individual must be identified on this form. Here, there will be three blank lines. Utilize these areas to fill in the “Name of the Successor Agent,” the “Successor Agent’s Address,” and the “Successor Agent’s Telephone Number.” This designation acts as insurance that someone will be able to assume the Decision Making Powers if the Primary Health Care Agent will not do so.

Below the First Successor Agent, the Principal may name a Second Successor Agent, in case the first is unavailable or unable to take over the Primary Health Care Agent role when necessary. This may be accomplished by entering the Second Successor Agent’s Name, Address, and Telephone Number on the blank lines provided.

 

4 – Principal Approval Of The General Powers Designated Through This Form

The next couple of paragraphs will provide some necessary language for this form to be effective, it will also require the Principal’s attention. Here, the Principal will need to approve, first hand, the Matters of Authority the Agent will be appointed within his or her life.

The first matter, “Real Property,” will appoint Principal Power to the Agent when the Principal initials the blank line in this statement. The second blank line must be initialed by the Principal in order to grant the Agent with Principal Authority in his or her “Tangible Personal property.” The third item, “Stocks and Bonds,” will provide the Agent with powers in such matters when the Principal initials the blank line. The next item, “Commodities and Options,” enables the Agent to deal with the Principal’s Commodities and Options when it is initialed by the Principal. The Principal must initial the fifth blank line to give the Agent power in his or her “Banks and Other Financial Institutions.” Similarly, if the Principal wishes the Agent to be appointed with Principal Authority in the Operation of his or her Entity or Business, the sixth subject matter (“Operation of Entity or Business”). The Principal’s “Insurance and Annuities” can be controlled by the Agent, if the Principal initials the seventh subject matter. If the Principal intends to allow the Agent to have Principal Authority regarding his or her “Estates, Trusts, and Other Beneficial Institutions” then he or she must initial the eighth Matter of Authority. The Principal will empower the Agent with the Power to Effect his or her “Claims and Litigation” by initialing the ninth subject matter. The Agent will have the ability to exert Principal Power regarding the Principal’s “Personal and Family Maintenance,” if the Principal initials the tenth item.
If the Agent should be able to wield Authority regarding the Principal’s Government Program Benefits, the Principal should initial the “Benefits from Government Programs, or Civil, or Military Service” line.

If the Principal wishes to grant the Agent Principal Authority in his or her “Retirement Plans,” the Principal will need to initial the twelfth subject. The thirteenth subject matters must be initialed by the Principal if he or she wishes to grant the Agent with the Authority to deal with his or her “Taxes.”If the Principal wishes to grant all of these powers to the Agent, this may be done by simply initialing the last item.

5 – Principal Definition Of Approved Actions Of Authority

While Principal Power in the Subject Matters of Authority may be granted by initialing one or more of the above items, the actions taken in such areas must also be defined. This will be defined in a similar manner as the general subjects. That is, the Principal must go through a list of the Actions defined, then initial the ones the Agent may take. Any of the Actions not initialed by the Principal will deny the Agent the right to take that action in any subject area.

The Principal will be able to appoint the Agent with the ability to “Create, Amend, Revoke, or Terminate inter vivos trust” by initialing the first parentheses.

The Agent will be given the ability to “Make a gift,” when the Principal initials the second Parentheses. The right to “Create or Change rights of survivorship” in the Principal’s affairs will be granted to the Agent by the Principal once the Principal initials the third Parentheses.

The Principal should initial the fourth parentheses to endow the Agent with the right to “Create or Change a beneficiary designation.”The Principal will give the Agent the right to “Authorize another person to exercise the authority granted” through this document by initialing the fifth parentheses. The Agent will have the Principal Authority to “Waive the principal’s right to be a beneficiary of a joint and survivor annuity” once the Principal initials the sixth parentheses. The Principal may appoint the Agent the right to “Exercise fiduciary powers” in the Principal’s control by initialing the last parentheses.

The blank lines below this area have been supplied for the convenience of the Principal. The “Special Instructions (Optional)” section is where the Principal may directly enter any limitations, restrictions, or provisions he or she wishes to impose on the Agent’s Principal Authority. If there is not enough room here, the Principal may cite an attachment.

 

6 – The Principal’s Nomination

The next area will take the future possibility of the courts needing to appoint a Guardian to the Principal’s Estate or Person into account. The Principal may take this opportunity to Nominate a Conservator or Guardian for the court’s consideration. There will be two distinct areas for this purpose. The first will provide an area for the Principal to Nominate a Conservator of Estate. The second has been provided so the Principal may Nominate a Guardian of his or her Person.

Find the statement “Name of Nominee for conservator or guardian of my estate,” then use the next three blank lines to enter this Nominee’s Full Legal Name, Address, and Telephone Number. Each item will have its own designated space and should be reported in this order.

The next set of lines, below the statement “Name of Nominee for Guardian of My Person,” will allow for the Principal to Nominate an individual to serve as his or her Guardian by reporting this entity’s Full Legal Name, Address, and Telephone Number.

7 – The Principal’s Authorization On Reliance

The “Reliance On this Power Of Attorney” section shall require the Signature of the Principal in order to solidify the intent of the Principal. This, and the Signature Date should be supplied on the blank line labeled “Your Signature” and “Date” by the Principal. The next three lines must have the Principal’s Printed Name, the Principal’s Address, and the Principal’s Telephone Number entered onto the three appropriately labeled lines.

This shall conclude the Principal’s participation. The next area is exclusively for the purpose of the Notary Public. Here, the information that may verify this signing and the notarization seal will be provided by the Notary Public.


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