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Vermont Durable (Financial) Power of Attorney Form

A Vermont durable power of attorney form is a legal document that allows a person ("principal") to appoint someone else ("agent") to stand in their place and handle their business affairs. It is considered "durable" when the power of attorney remains legally valid even in the event that the principal becomes incapacitated.
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Signing Requirements

The principal must have their signature acknowledged before a notary public.[1]

Powers Granted

A principal can authorize their attorney-in-fact, either specifically or broadly, to make decisions about things like:[2]

  • 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.

Some things like making changes to trusts and giving gifts must be expressly granted for the attorney-in-fact to have authority over them.[3]

“Durable” Definition

“Durable” with respect to a power of attorney, means not terminated by the principal’s incapacity or unavailability.[4]

“Power of Attorney” Definition

“Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used.[5]

Revocation

A power of attorney terminates when:[6]

  • the principal dies;
  • the principal becomes incapacitated or unavailable, if the power of attorney is not durable;
  • the principal revokes the power of attorney;
  • the power of attorney provides that it terminates;
  • the purpose of the power of attorney is accomplished; or
  • the principal revokes the agent’s authority or the agent dies, becomes incapacitated or unavailable, or resigns, and the power of attorney does not provide otherwise.

An agent’s authority terminates when:

  • the principal revokes the authority;
  • the agent dies, becomes incapacitated or unavailable, or resigns;
  • a petition for divorce, annulment, separation, or a decree of nullity is filed with respect to the agent’s marriage to the principal, unless the power of attorney otherwise provides; or
  • the power of attorney terminates.

Statutory Form

Yes, the State of Vermont has a statutory power of attorney form.[7]

Sample

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