Signing Requirements
The principal must sign in the presence of a notary public or someone authorized to take acknowledgments. In addition, the agent has the option to sign the Agent’s Certification in the presence of a notary public.[1][2]
Powers Granted
A principal is permitted to grant the agent authority over matters including:[3]
- 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; and
- Gifts.
“Durable” Definition
“Durable” with respect to a power of attorney means not terminated by the principal’s incapacity.[4]
“Power of Attorney” Definition
“Power of attorney” means a writing or other record which grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used.[5]
Revocation
A power of attorney shall terminate when:[6]
- The principal dies;
- The principal becomes incapacitated, if the power of attorney specifically provides that it is not durable;
- The principal revokes the power of attorney;
- The principal revokes the agent’s authority or the agent resigns, becomes incapacitated, or dies and the power of attorney does not provide for another agent to act under such power of attorney;
- The power of attorney provides that it terminates; or
- The purpose of the power of attorney is accomplished.
An agent’s authority shall terminate when:[7]
- The agent resigns, becomes incapacitated, or dies;
- The principal revokes the agent’s authority;
- The principal and agent divorce or legally separate, unless the power of attorney otherwise provides; or
- The power of attorney terminates.
Statutory Form
Yes, the State of Idaho has a statutory form.[8]