Signing Requirements
The principal is required to have their signature acknowledged before a notary public.[1]
Powers Granted
Texas law does not specifically identify what type of authority may be granted in a durable power of attorney. Typically, a principal may authorize an agent to do any legal act that the principal is able to do through an agent. This usually includes things like:
- Real property;
- Tangible personal property;
- Stocks and bonds;
- Commodities and options;
- Banks and other financial institutions;
- Operation of entity or business;
- Insurance and annuities;
- Estates, trusts, and other beneficial interests;
- Claims and litigation;
- Personal and family maintenance;
- Benefits from governmental programs or civil or military service;
- Retirement plans;
- Taxes; and
- Gifts.
“Durable” Definition
“Durable power of attorney” means a writing or other record that complies with the requirements of Section 751.0021(a) or is described by Section 751.0021(b).[2]
“Power of Attorney” Definition
“is a writing or other record that designates another person as agent and grants authority to that agent to act in the place of the principal, regardless of whether the term “power of attorney” is used.[3]
Revocation
Texas law does not define exactly how a durable power of attorney is revoked. The principal may amend or terminate the power at any time during their lifetime while not incapacitated. Further, the POA itself may define a time or set of circumstances under which the document terminates.
Statutory Form
Yes, the State of Texas has a statutory form.[4]