Delaware General (Financial) Power of Attorney Power of Attorney Forms

Delaware General (Financial) Power of Attorney

ads1

A General Power of Attorney (GPOA) in Delaware enables an individual (the principal) to delegate financial decision-making authority to another individual (the agent). It is advisable for the principal to select someone they trust, such as a spouse or a close relative, to serve in this role. It is important to note that if the principal becomes incapacitated, the GPOA will become invalid automatically.

Download PDF

4.8 (686 Votes)

9,027 Downloads

Signing Requirements

One witness and a notary public.

Laws

Durable - A power of attorney is durable if it contains the words: "This power of attorney shall not be affected by the subsequent incapacity of the principal," or "This power of attorney shall become effective upon the incapacity of the principal," or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal's subsequent incapacity.<a class="source-url" href="#source-url1">[1]</a>

Incapacity - Means inability of an individual to manage his or her property or business affairs.<a class="source-url" href="#source-url2">[2]</a>

Signing Requirements - A power of attorney must be dated and signed by the principal (or by another person in the presence of the principal and at their express direction) in the presence of a notarial officer and one adult witness who is neither: Related to the principal by blood, marriage, or adoption; nor entitled to any portion of the estate of the principal under the principal's then existing will or codicil or amendment thereto or trust instrument.<a class="source-url" href="#source-url3">[3]</a>

Sources

ads2

Notice

The information and templates provided on this website are for general informational purposes only and are not a substitute for professional legal advice. While we strive to offer accurate and up-to-date forms, the legal landscape is complex and varies by jurisdiction. We strongly recommend that you consult with a qualified attorney for specific legal issues or questions. Using our templates does not create an attorney-client relationship, and we are not responsible for any actions taken based on the information provided here.

The Significance of POA

By designating an agent, the principal can ensure that someone they trust will make decisions regarding their finances, healthcare, and legal matters. This can help prevent disputes among family members and ensure timely decision-making when needed. Additionally, having a POA in place can protect an individual’s interests, allowing for smooth management of affairs without the need for court intervention. Overall, a POA is a vital tool for planning and safeguarding one's future.