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Oklahoma General (Financial) Power of Attorney

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Oklahoma General (Financial) Power of Attorney

Updated August 09, 2023

An Oklahoma general (financial) power of attorney form enables you to name a friend or relative to be in charge of your financial matters, including the acquisition and disposition of property and assets. As with all types of POAs, it is important that you think carefully about who would handle your affairs the way you would want them to – with integrity and care. The difference between this for and the durable for is that this form terminates upon the incapacity of the principal (the person who makes the POA). If you are looking to have a POA in place in the event you become incapacitated, you should consider using this form instead.

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I. Designation Of Agent

(1) Oklahoma Principal Identity. The only Party who may decide upon and execute the contents of this form is the Oklahoma Principal who is appointing another Party with the authority to act in his or her name. While some areas of this document may be prepared with information, the Oklahoma Principal’s direct participation will be needed for its completion. It will be assumed that you are the Oklahoma Principal appointing an Attorney-in-Fact or Agent to act on your behalf in the financial matters that will be defined.

(2) Name Of Oklahoma Agent. The identity of the Party you have chosen to delegate your authority to must be established in the first statement made by this document. Produce his or her full name as the Agent you wish to act in your name.

(3) Oklahoma Agent Contact Information. Naturally, anyone representing your financial interests must be easily contacted by the Financial Institutions and other Entities that may be dealing with your Agent. Therefore, your Oklahoma Agent or Attorney-in-Fact’s complete address and phone number should be produced in the area provided.

II. Designation Of Successor Agent(s) (Optional)

(4) Identity Of Successor Agent. The Party you named as your Oklahoma Attorney-in-Fact may not always be available, capable, or even retain your approval to act on your behalf in the capacity this document defines. This can leave you without representation at times when you are not available (for instance, you may be traveling out of the country). If desired, you can pre-authorize a Successor Agent to take over the Oklahoma Attorney-in-Fact position by attaching the full name of the Successor Agent to this role. It should be mentioned that the Successor Agent will not be authorized to wield your principal power unless your original Oklahoma Attorney-in-Fact steps down, becomes incapacitated or otherwise unavailable, or is revoked (by you).

(5) Successor Agent Address And Phone Number.

(6) Second Successor Agent Name. There is always a possibility that your First Successor Agent will be unable to act as your Attorney-in-Fact or no longer eligible at a time when the Attorney-in-Fact role becomes unoccupied. In an effort to ensure that you have continuous representation even in such a scenario, a Second Successor Agent may be appointed with the authority to assume the role of Attorney-in-Fact. As with the First Successor Agent, the Second Successor Agent will be unable to wield your principal authority unless he or she graduates to the Attorney-in-Fact role. To name a Second Successor Agent, record his or her full name where it is requested.

(7) Address And Phone Number Of Second Successor Agent.

III. Grant Of General Authority

(8) Real Property. You have the option of only authorizing certain powers to your Oklahoma Attorney-in-Fact from selecting them from the list of general powers or you may grant all of them at once by attending to the final item. If you wish to grant only certain powers, then review the list of general authorities. If you intend to deliver the power to handle your real estate matters (i.e. a sale or purchase of property, claiming or releasing interest, maintenance, payments, etc.)  to your Oklahoma Attorney-in-Fact, then initial the first general power (unless you intend to grant all the powers on this list then, simply attend to the final item).(9) Tangible Personal Property. In order to grant your Oklahoma Attorney-in-Fact the ability or authority to buy, sell, exchange, maintain, and perform other actions with the physical property that you own, you will need to initial the second general power on this list. To restrict such actions, leave this item unapproved.

(10) Stocks And Bonds. Intangible assets such as stocks that you have the authority or access to as well as bonds can be bought, traded, sold, or managed by your Oklahoma Attorney-in-Fact with the same authority that you carry if you initial the third authority topic of this list.

(11) Commodities And Options. The authority that you hold over “Commodities And Options” can be granted to your Oklahoma Attorney-in-Fact, if the fourth topic carries your initials. Bear in mind while allowing your Oklahoma Agent to handle your affairs in the previous topic (“Stocks And Bonds”) and this one (“Commodities And Options”), this is not a given. You may initial one or both of these powers to grant to the Oklahoma Agent or leave them blank to restrict such power from your Agent at your discretion.

(12) Banks And Other Financial Institutions. The accounts that you maintain or can obtain from Financial Institutions (including Banks) may be managed, opened, closed, transferred, or otherwise handled by the Oklahoma Attorney-in-Fact if you give him or her the authority to do so by delivering your initials of approval where required. Keep in mind that, as a matter of procedure, some Financial Institutions may require additional principal acknowledgments before your Oklahoma Agent can function with your name to the full extent this document allows.

(13) Operation Of Entity Or Business. If you are responsible for the decisions of a Business or similar Private Entity or own one and wish to designate the Oklahoma Attorney-in-Fact with the same authority you wield in such an Entity, then you must initial the sixth general power presented in this area.

(14) Insurance And Annuities. Your Oklahoma Agent can be designated with the ability to manage your insurance policies and annuities that you are either eligible for or currently receive if you initial the seventh topic of this list.

(15) Estates, Trusts, And Other Beneficial Interests. The authority that you hold over any estates, current or future trusts, and other similar interests can be appointed to the Oklahoma Attorney-in-Fact provided you initial the ninth subject in this area.

(16) Claims And Litigation. You may approve of your Oklahoma Agent’s principal power to handle the administrative decisions and tasks required for any claims or any litigation that you may be engaged in so long as you deliver your initials of approval where requested.

(17) Personal And Family Maintenance. The financial requirements of your personal life and your family can be managed by your Oklahoma Attorney-in-Fact through the tenth predefined power. Initial this item to grant your Oklahoma Agent this type of principal authority.

(18) Benefits From Governmental Programs Or Civil Or Military Service. Initial the eleventh power if the Your Oklahoma Agent should be designated the authority to apply for and manage (i.e. deliver/receive payments) to Government programs including those for Civil or Military Service.

(19) Retirement Plans. If the Oklahoma Agent will be expected to apply for, receive payments on your behalf, and perform other actions with your authority with retirement plans, then the twelfth general power should be approved with your initials as the Oklahoma Principal issuing this paperwork.

(20) Taxes. You may use this document to allow your Oklahoma Agent to use your principal authority to perform basic tasks with your taxes (i.e. working with an Accountant or the IRS on your behalf) by authorizing the “Taxes” item on this list with your initials however, many Tax Entities will require additional paperwork and requirements to be satisfied before more advanced tasks can be handled by your Oklahoma Agent.

(21) All Preceding Subjects. As discussed earlier, the final appointment available in this section will allow you to grant all of the powers above in one fell swoop. To engage this option, make sure none of the above topics bear any initials then supply your initials to the final general power statement (“All Preceding Subjects”). Do not initial this item if any of the above powers have been initialed.

III. Special Instructions

(22) Additional Directives Of The Oklahoma Principal. As the Principal issuing this appointment, you retain the ability to restrict or limit the Oklahoma Agent in any manner deemed necessary to protect your financial interests. Similarly, you may declare that his or her access to the authority you approved for designation to be dependent upon certain conditions. The “Special Instructions” area will allow you to provide such instructions directly to your Oklahoma Agent and any other Party that reviews this paperwork. If more room is required to fully define your instructions regarding the Oklahoma Agent’s use of your principal power, then you may either insert additional lines as needed or furnish an attachment that is physically present with this document at all times. This area may be populated with the word “None” if you do not have any additional instructions.

IV. Effective Date And Termination

Select Item 23 Or Select Item 24

(23) Immediate Effect Upon Execution. This appointment of power must be framed with a starting period and a termination method. If the first calendar date of your Oklahoma Agent’s ability to access your principal authority is the date that you sign this paperwork, then initial the first statement made on this topic. This will grant the principal authority you defined above to your Oklahoma Agent immediately upon this document’s execution.

(24) Specific Date Of Effect. In order to set the principal powers defined in this document to become effective upon a specific date, the second option must be initialed. Furthermore, the exact date that the Oklahoma Agent has your approval to use your principal powers must be furnished to the content of this statement.

Select Item 25, Item 26, Or Item 27

(25)  Predetermined Termination Date. Now, there are three methods to choose from that will terminate the powers granted through this document to your Oklahoma Agent. If these powers should naturally expire as of a certain date, then provide your initials to the first termination option and establish the date of termination by recording it in the spaces available.

(26) Termination Upon Revocation. If you wish the Oklahoma Attorney-in-Fact or Agent to retain your principal authority until you formally issue a written revocation, then initial the second termination statement. Keep in mind, that even if you terminate these powers as of a certain date (or use this third option), you, as the Oklahoma Principal, will retain the ability to revoke the Agent’s power at any time of your choosing.

(27) Termination Upon Incapacitation. You may wish this document to naturally terminate should you be declared (by a Physician) as incapacitated and unable to decide upon your financial affairs. If so, then initial the final termination option provided.

V. Signature And Acknowledgment

(28) Your Signature. Your dated and notarized signature will be required to formally execute this designation. Sign your name where requested as the Oklahoma Principal behind this document.

(29) Your Signature Date. Produce the current date when you sign this paperwork.

(30) Your Name Printed. Your signature should be presented with your printed name.

(31) Your Address.

(32) Your Telephone Number.

V. Notarization Of Oklahoma Principal Signature

(32) Notary Action. Your act of signing will need to be witnessed by a licensed Notary Public. This Party will be able to verify your identity and testify in the future that you have signed this document if called upon to do so. The final section will be tended to the Notary Public serving this signing.