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Oklahoma Durable (Financial) Power of Attorney Form

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Oklahoma Durable (Financial) Power of Attorney Form provides a way in which you (as the principal) can appoint a representative to handle your financial affairs if you are unable to do so yourself. Usually, the principal issuing such paperwork will prefer to elect his or her spouse, relative, a trusted friend of the family, or qualified professional. Whoever the principal chooses, an effort should be made to verify that this agent has a reliable reputation; after all, the elected agent will have the authority to handle the principal’s assets and property. This paperwork will enable the principal to quickly identify the powers he or she wishes to grant the agent, define when such powers are available, and solidify the basic terms set by law for the benefit of both parties.

Laws§ 58-1072.2


Medical Power of Attorney – Enables your agent to legally represent you in making health care decisions.

How to Write

Download: Adobe PDF, Microsoft Word (.docx), Open Document Text (.odt)

1 – Issue A Power Of Attorney In Oklahoma Using The Template On This Page

Any of the three buttons bearing file-types as labels will enable you to open or save this paperwork.

2 – Provide A Clear Introduction To This Document And Its Participants

This document will need some minor preparation before it is turned over to the Principal. Start by declaring its date in the introduction by making a record of the calendar day, month, and year with the first three blank spaces.  The name of the individual making this statement, the Principal, must be used to supplement the language of this statement. Submit the first, middle, and last name of the Principal on the empty line between the words “I” and “The Principal, Of…” then his or her city or account on the blank space that follows. This sentence requires one more item of identification; the individual authorized to represent the Principal. Place this Agent’s first, middle, and last name on the line following the term “…Hereby Designate.” Make certain to finish the Agent report by producing his or her county/city and state of residence on the last two empty spaces. 

 

3 – Define The Timing Of These Powers

The next portion of this paperwork, designated with the bold heading “Effective Date,” will present two statements. The Principal must read these choices then initial whichever one best describes the manner the principal powers will begin. Thus, the Principal should initial the first statement to grant principal powers on the signature date or initial the second statement to grant the Agent principal powers only upon being diagnosed as incapacitated. Both statements will keep the powers in effect when the Principal has been disabled or rendered unable to represent himself or herself but only one may be initialed. In the example below, the Principal has decided that his or her powers should not be granted to the Agent unless a physician has declared him as “….Unable To Properly Handle” his or her affairs. 

 

4 – The Principal Must Give Solid Approval For Every Action Allowed To The Agent

The area titled “Powers Of Attorney-in-fact” features a list of labeled paragraph statements requiring review. All these statements will detail a set of decisions and actions the Agent can potentially engage in when representing the Principal. However, the only way the Agent can represent the Principal through one of these statements is if that statement is initialed by the Principal. Therefore, the Principal must read through his list then initial the blank space attached to the description of actions the he or she authorizes the Agent to carry out in his or her name. If the Principal does not intend to grant a specific power, then he or she should not initial that statement. Once this document is signed by the Principal, he or she will be unable to initial any additional portions or remove any authorized powers using this document. A new one would have to be developed and signed.

The first paragraph, titled “Banking,” will name actions such as receiving funds in financial institutions, depositing them, withdrawing Principal funds, paying for services, and executing banking paperwork in the Principal’s name and on his or her behalf as actions the Agent may take as a result of this document. If the Principal has read this paragraph and determined that the Agent should be granted the power to behave this way, then the Principal must sign the blank space attached to the label “Banking.” If the Principal wants the Agent to have the same authority he or she holds over any “Safe Deposit Box” in his or her control, then the second blank space on this list must be initialed by him or her The Principal can authorize the Agent to participate in “Lending Or Borrowing” practices in his or her name by initialing the second statement. This will allow him or her to make loans to other entities in the name of the Principal, borrow money, engaging in such activities with other individuals, and a host of other actions in this area on behalf of the Principal. The ability “To Apply For And Receive Any Government Benefits” can be included within the scope of the Agent’s principal authority through the principal act of signing the blank space corresponding to the fourth statement. If the Agent is to be able to represent the Principal’s interests by acting with any “Retirement Plan” in his or her name, then the Principal must submit his or her signature to the fifth statement of powers. The Agent can be assigned with the authority required to handle certain actions concerning the Principal’s “Taxes” through the sixth power statement but only if the Principal initials the empty space attached to the bold word “Taxes.” “Insurance” policies, decisions, and actions can be handled by the Agent using the Principal’s name provided the Principal initials this paragraph. The Principal’s “Real Estate” matters may be placed within the authority granted to the Agent once the Principal produces his or her initials on the eighth blank space in this list. The ninth paragraph in this section will enable the Agent to represent and act for the Principal concerning the Principal’s “Personal Property.” Therefore, if the Principal initials this item, he or she will authorize the Agent to engage in such actions as acquiring, leasing, conveying personal property which can consist of items such as stocks, bonds, securities, etc. The tenth item on this list, labeled as “Power To Manage Property,” enables the Principal to approve the Agent’s principal ability “To Maintain, Repair, Improve, Invest, Manage, Insure, Rent, Lease, Encumber…..Real Or Personal Property, Tangible Or Intangible” principal property and engage in other actions defined in this area. The Principal will need to initial the blank space provided to grant such authority to the Agent. The “Gifts” paragraph of this section will declare the Agent has the authority to make “…Gifts, Grants, Or Other Transfers” on behalf of the Principal when the Principal initials the blank space attached to this paragraph’s label. If the Principal wishes the Agent to have the power to pursue and handle “Legal Advice And Proceedings” in his or her name, then he or she must initial the twelfth paragraph. The “Special Instructions” area of this document allows for the Principal to directly communicate his or her intention to limit or extend the authority he or she is granting the Agent. The blank lines in this section will accept a description of the applicable principal preferences or you may name an attachment with this information. 

 

5 – A Verifiable Signature From The Principal Must Be Submitted For Execution

The last statement in this document will contain three blank spaces. The Principal must use them to make a record of the current calendar day, month, and year that he or she is signing this paperwork. 

The Principal must submit his or her legal signature to the line attached to the bold word “Signed,” then record his or her “City, County, And State Of Residence” in the area provided below the signature line.  

After signing this delegation paperwork, the Principal must then turn it over to the two Witnesses who have watched him or her provide these items. As a measure of authentication the Witnesses will then read and agree to the statement below the Principal’s signature. In order for a Witness to testify that he or she has watched the Principal and that all the facts in the Witness Statement is true, each Witness must sign his or her name to a unique “Witness” line.
The remainder of this signature area is reserved for the purpose of this document’s notarization. The Notary Public will supplement the language in this area with several required items of information before producing his or her own credentials. 


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