Laws
- Durable – A power of attorney is durable unless it expressly provides that it is terminated by the incapacity of the principal.[1]
- Incapacity – means inability of an individual to manage the individual’s estate or financial affairs, or both, because:
- of gross mismanagement, as evidenced by recent behavior, of the individual’s income and resources or the individual’s medical inability to manage the individual’s income and resources that has led, or is likely in the near future to lead, to financial vulnerability; or
- the individual is missing, detained (incarcerated), or is outside the US and unable to return.[2]
- Signing Requirements – Must be notarized.[3]
Sample