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Pennsylvania General (Financial) Power of Attorney

A Pennsylvania general (financial) power of attorney form provides a means by which an individual (principal) can legally appoint someone to act as their agent and manage their assets and property. The agent is able to buy and sell assets, open accounts, and make other financially related decisions on behalf of the principal.
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Updated August 21, 2024

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Laws

  • Durable – A power of attorney is durable unless otherwise specified in the power of attorney.[1]
  • Incapacity – means an adult whose ability to receive and evaluate information effectively and communicate decisions in any way is impaired to such a significant extent that he is partially or totally unable to manage his financial resources or to meet essential requirements for his physical health and safety.[2]
  • Signing Requirements – Must be signed by the principal and two witnesses and the signatures must be notarized. The witnesses may not be the person who signed the POA on behalf of the principal, an agent designated in the POA, or the notary public.[3]

Sources

  1. § 5601.1
  2. § 5501
  3. § 5601(b)(3)