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Oregon Durable (Financial) Power of Attorney Form

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Oregon Durable (Financial) Power of Attorney Form

Updated October 11, 2023

An Oregon durable power of attorney form lets an individual, the “principal,” choose another person to handle their financial affairs on their behalf. The person selected, the “agent”, should be a trusted person and is required to make all decisions to the benefit of the principal. The form being durable means it will remain legal until the death of the principal unless revoked.

Table of Contents


Chapter 127 (Powers of Attorney; Healthcare Directives)

Definition of “Durable”

The Oregon Revised Statutes do not use the term “durable,” but state that “all acts done by an agent under a power of attorney during a period in which the principal is financially incapable have the same effect, and inure to the benefit of and bind the principal, as though the principal were not financially incapable” (ORS 127.005(4)).

Definition of “Power of Attorney”

The Oregon Revised Statutes mostly use the term “attorney-in-fact,” which means an adult validly appointed under ORS 127.540, 127.700 to 127.737 and 426.385 to make mental health treatment decisions for a principal under a declaration for mental health treatment and also means an alternative attorney-in-fact.

Signing Requirements

The principal is the only required person to sign the form, though banks and other financial institutions may require the form be notarized or witnessed (ORS 127.005(1)).

Statutory Form

The Oregon Revised Statutes do not include a sample statutory power of attorney form, but language concerning powers of attorney can be found in Chapter 127 of the Oregon code.

How to Write

1 – Delegate Durable Powers In Oregon Using This Paperwork

The paperwork here will enable a Principal to appoint a distinct individual to act on his or her behalf using Principal Authority. It may be obtained using the buttons displayed with the preview picture

2 – The Principal’s Initial Statement Should Be Completed

The paragraph at the beginning of this form serves as a method to introduce both the Principal and the Attorney-in-Fact while allowing the Principal to state his or her intent with this document’s execution.

Record the Principal’s Legal Name on the first available space then, use the next two lines to report his or her Residential Building Number, Street, Unit Number, and City. The third available line will call for the State where the reported Address is located. Produce the Legal Name of the individual the Principal is appointing his or her Authority too. The Attorney-in-Fact’s legal Name should be placed in the space after the words “Hereby Designate.” Then, on the two blank lines following the reported identity, supply his or her Street Address and State of Residence

3 – A Principal Authorization Is Required To Set The Effective Date

It will be necessary to attach a definitive Date of Effect to the Powers the Agent can wield. Two statements have been presented under the bold words “Effective Date” each with a label and a blank line preceding it. The Principal must initial one of these statements to Authorize that its contents be applied to the Period of Effect.

If the Attorney-in-Fact’s Principal Power will be attainable once this document is signed by the Principal and remain unaffected and in Effect if the Principal is rendered unable to make any decisions, the Principal will need to initial the choice labeled “A.”The Principal can hold off on allowing the Attorney-in-Fact from having access to the Authority being appointed until he or she is rendered incapable of making his or her own decisions. Once the Principal’s attending Physician submits a written diagnosis that he or she is incapacitated and it is attached to this document, the Attorney-in-Fact will be able to wield Principal Power. The Principal should initial choice “B” if this should be the manner in which the Principal Powers will become active.

4 – The Power To Act On The Principal’s Behalf Must Be Principal Approved

Actions the Principal Agent may take with Principal Power will depend upon whether the Principal Approval has been gained. Only the Principal may grant the Agent the Approval to act in his or her name and will need to do so in the section labeled “Powers Of Attorney-in-Fact”

The Principal must initial the blank line preceding the label “Banking” to authorize the Agent’s use of Principal Power to make the Decisions and participate in Transactions typically done by financial institutions such as Banks.The “Safe Deposit Box” will need the initials of the Principal on the line preceding the label if the Principal has decided the Attorney-in-Fact named above should be able to access his or her Safe-Deposit boxes under any means at his or her disposal on behalf of the Principal.The “Lending Or Borrowing” paragraph should be initialed by the Principal to give the Principal Agent the Authority to handle actions such as making Loans and producing Promissory Notes on behalf of the Principal.The Principal’s Initials must appear on the “Government Benefits” line if the Agent will be expected to handle affairs such as applying, collecting, or terminating programs such as Social Security, Medicare, or any other Government Program where benefits may be collected.The Attorney-in-Fact can take any actions with the Principal’s “Retirement Plan” as per the definitions in this paragraph, once the Principal initials the “Retirement Plan” paragraph.The initials of the Principal must be presented on the blank line preceding the bold word “Taxes” so the Attorney-in-Fact may “…Compete And Sign Any Local, State And Federal Tax Returns” along with a host of other actions and decisions on behalf of the Principal. Note: In addition to this paperwork, Tax Entities have staunch requirements that must be met before and Attorney-in-Fact can sign a return on behalf of the Principal.When the initials of the Principal are set upon the blank line corresponding to the “Insurance” statement, the Attorney-in-Fact will gain Principal Authorization to use the Principal’s Name to engage or discontinue Insurance Policies of any kind with the exception of changing or cashing a life insurance policy currently set in place or drawn up in the future by the Principal.The Attorney-in-Fact will be able to carry out virtually any Real Estate transaction through the Principal Act of initialing “Real Estate” paragraph.The “Personal Property” of the Principal may be placed in the care of the Attorney-in-Fact, wielding Principal Powers, if the paragraph with this label is initialed by the Principal.The “Power To Manage Property” in the Principal’s Name will be granted to the Principal Agent so that he or she may perform actions such as (but not limited to) maintaining, repairing, investing, insuring, renting, etc. Principal Property on the Principal’s behalf when the Principal initials the blank line corresponding to this paragraph.The Principal’s ability to make (tangible or intangible) “Gifts” can be granted to the Attorney-in-Fact acting with Principal Power upon the Principal’s initials of this paragraph and the proper execution of this document.Any “Legal Advice And Proceedings” the Principal requires or must engage in may be controlled by the Attorney-in-Fact using Principal Power in the interest of the Principal after the Principal initials the corresponding line.If the Principal wishes that “Special Instructions” regarding these Powers should be imposed upon the Agent’s use of his or her Authority, then a report of these instructions must be present at the time of signing. Solidify any such provisions in the “Special Instructions” section. If there are none, simply write the word “None” in this section.

5 – The Principal Must Sign This Document To Execute Its Effect

The Principal Decision to set the terms of this paperwork in Effect must be easily verifiable. Thus, only a Principal Signature supplied on a completed copy by the Principal can execute this document. First, he or she should enter the Calendar Date of Signature across the three spaces provided in the last statement.The Signature of the Principal must be produced by the Principal on the blank line below the Signature Date statement.Both of the individuals present at the time of the Principal Signing for the exact purpose of observing the Principal Signing must testify to the authenticity of this Principal’s intent and execution by signing his or her Name on the “Witness’s Signature” line and documenting his or her Address on the “Address” line. There will be enough room for two individuals to satisfy this requirement. There will be an area directly below the Witness Statement the attending Notary can use to verify this signing through the process of notarization. Only the Notary Public physically present and observing the signing can fulfill this area.The “Specimen Signature And Acceptance Of Appointment” section must display the Name of the Attorney-in-Fact in its statement. Supply this Name as it was reported earlier then have the Attorney-in-Fact read and sign this statement.The Attorney-in-Fact’s signature will be notarized using the area provided.


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