Signing Requirements
The principal is required to sign in the presence of a notary public and two witnesses. The agent is required to sign and may do it themselves and does not need to be acknowledged and without witnesses.[1]
Powers Granted
A principal may grant an agent the power to do any legal act that the principal may do through an agent. However, a power of attorney must specifically grant an agent power over the following if the principal wishes him or her to make decisions about it:[2]
- Create, amend, revoke or terminate an inter vivos trust;
- Make a gift;
- Create or change rights of survivorship;
- Create or change a beneficiary designation;
- Delegate authority granted under the power of attorney;
- Waive the principal’s right to be a beneficiary of a joint and survivor annuity;
- Exercise fiduciary powers that the principal has authority to delegate;
- Disclaim property, including a power of appointment; or
- Access the content of electronic communications sent or received by the principal.
“Durable” Definition
A durable power of attorney is a power of attorney by which a principal designates another his agent in writing. The authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity. A principal may provide in the power of attorney that the power shall become effective at a specified future time or upon the occurrence of a specified contingency, including the disability or incapacity of the principal.[3]
“Power of Attorney” Definition
The Pennsylvania statutes do not define “power of attorney” but do provide a list of abilities that an agent is presumed to have and those that an agent is granted only if specifically granted in the document.[4]
Revocation
A power of attorney may be revoked or amended by the principal while they are alive and not incapacitated. The agent must be notified that the power has been terminated.[5]