The Utah Durable (Statutory) Power of Attorney Form is a legal document granting one person (the “agent”) the authority to act on behalf of another person (the “principal”).
By executing this form, the principal ensures that their financial, personal, and other specified matters will be addressed even if they become incapacitated.
As such, this document serves as a protective measure, safeguarding the interests of all parties involved.
This identifies the individual granting power to another person.
Example: John Doe would be written by someone named John Doe, signifying that he’s granting the authority.
This identifies the person receiving authority from the principal.
This step is crucial to clearly define who will be making decisions on behalf of the principal.
Example: Jane Smith might be your trusted sister or friend who you believe will make decisions in your best interest.
This provides a location detail of the agent.
In case of legal disputes or the need for correspondence, the agent’s address acts as a point of contact.
Example: 123 Elm Street, Salt Lake City, UT 84101 – An authentic address ensures the agent has a reachable location.
This is a direct line to reach the agent.
The step facilitates immediate communication in emergencies or for crucial decisions.
Example: (801) 123-4567 – Jane Smith’s personal phone number where she can be reached any day of the week.
Sometimes, your primary agent might be unable or unwilling to act. That’s why it’s wise to name a backup or two.
This identifies the backup person to act if the primary agent can’t and ensures continuity in decision-making without legal interruptions.
Example: Emily Johnson could be your cousin who you also trust, but perhaps not as your first choice.
This is the location detail of the successor agent.
The step is essential for legal and official communications related to the principal’s affairs.
Example: 456 Oak Lane, Provo, UT 84601 – Emily’s home address where she receives her mail and official documents.
This is the direct contact for the successor agent which enables timely communication, especially if the primary agent is unreachable.
Example: (801) 789-0123 – A line to contact Emily when you need her assistance.
Name of second successor agent, second successor agent’s address, and second successor agent’s telephone number are to be entered here.
These follow the same pattern as the first successor agent’s details. The second successor agent serves as an additional backup, ensuring there’s always someone available to step in for the principal.
Example: Michael Brown, residing at 789 Pine Avenue, Ogden, UT 84401, contactable at (801) 456-7890, is your trusted college friend, ready to step in if both Jane and Emily can’t.
This section serves as the backbone of the document. It explicitly outlines which areas of your life you’re permitting your agent to have control over. Let’s delve into each:
This relates to immovable property, often land and the things permanently attached to it, like houses.
Example: Should you authorize this, your agent could manage or even sell your house on your behalf.
Physical objects ranging from small items like jewelry to larger ones like vehicles.
Example: If you have an antique watch collection, your agent could decide how to maintain or sell it.
Financial instruments representing your ownership in a company or your loan to the issuer.
Example: If you hold shares in Apple, your agent would be responsible for managing or trading these assets.
Contracts related to the purchase or sale of raw goods or other financial tools.
Example: If you’ve invested in gold or have options in tech companies, your agent can make decisions about these holdings.
This grants the agent the authority to manage your accounts and safety deposit boxes.
Example: Your agent could pay bills, withdraw money, or even open new accounts for you.
This pertains to running a business entity or partnership you own.
Example: If you own a bakery, your agent could manage its operations, from hiring staff to financial decisions.
This deals with insurance policies and annuity contracts.
Example: Your agent can decide on renewing your health insurance or withdrawing from an annuity.
This manages your interests in estates or trusts.
Example: If you’re a beneficiary of your grandfather’s trust, your agent would handle the distributions or changes on your behalf.
This represents you in legal claims or lawsuits.
Example: If someone sues you over a property dispute, your agent would handle the case for you.
This includes decisions regarding personal care, like diet or living situation.
Example: If health reasons make it hard for you to live alone, your agent might decide on moving you to a care facility.
This manages benefits from the government or military services.
Example: Your agent can apply for veterans’ benefits on your behalf.
This looks after your pension or retirement plans.
Example: If you have a 401(k) plan, your agent would decide on investment strategies or withdrawals.
This grants your agent the authority to file, pay, and manage your taxes.
Example: Come April, your agent will ensure your income taxes are filed timely.
A quick way to grant authority in all the listed areas without initialing each one individually.
While the general authority section provides broad powers, this section addresses more nuanced, potentially life-altering decisions:
Your agent could set up a living trust for your assets, altering how they’re distributed upon your passing.
Your agent might gift some of your assets to charities or family members, following legal limitations.
Your agent can modify who inherits certain assets upon your death.
Your agent might change the beneficiary of your life insurance from one relative to another.
If your agent feels they need assistance, they could grant some of their powers to another trusted individual.
Your agent might decide that waiving your beneficiary rights in a joint annuity is in your best financial interest.
If you have powers as a trustee, your agent can exercise these rights on your behalf.
Your agent might refuse an inherited property, deeming it not in your best interest.
Each of these decisions carries significant weight. Thus, the caution note is included to emphasize the gravity and ensure you grant these powers thoughtfully.
This blank space allows you to clarify, expand upon, or place more specific limits on the agent’s authority beyond what the standard document provides.
Personal situations are diverse, and a generic form might not capture every individual’s unique needs. This section helps customize the document to your precise specifications.
Example: Suppose you have a vintage car collection. You could provide specific instructions like “Agent is not permitted to sell any cars from my collection without consulting with my son, John Doe.”
This indicates when the powers granted to the agent become active.
Timing is vital. Depending on your needs, you may want the agent’s authority to start immediately or at a later date, perhaps when a specific condition is met.
Example: If you’re undergoing a major surgery next month, you might want the agent’s authority to kick in during your hospitalization and recovery.
When you may become incapacitated and a court finds it necessary to appoint a conservator or guardian, this section allows you to nominate individuals of your choice.
This person will manage your financial assets if you’re incapacitated.
It ensures someone you trust handles your financial matters.
Example: If you suffer from a severe illness and can’t manage your finances, the conservator would step in, ensuring bills are paid, investments are managed, and so forth.
These are the contact details of the nominee.
This ensures easy accessibility and communication with the nominee when needed.
This person will make personal decisions for you, from health care to daily life, if you’re incapacitated.
This individual ensures your personal, day-to-day well-being.
Example: If you’re in a coma, this guardian will make decisions about your medical treatment, where you’d live, and other life choices.
Again, enter here their contact details.
This ensures easy accessibility and communication with the nominee when needed.
This area ensures the document is valid and allows the principal (you) to confirm their decision by signing.
This authenticates the document.
Example: Think of it as the final seal of approval, the equivalent of saying, “Yes, I stand by every decision and nomination made in this document.”
Personal details are necessary for verification and contact.
Example: In case of any ambiguities, institutions can contact you directly using these contact details.
The subsequent section contains the official acknowledgment, witnessing the principal’s signature and certifying its authenticity, usually by a notary public.
This section is where the agent acknowledges and certifies their given authority. It ensures the agent understands the gravity of their role and attests to specific conditions.
Example: If an agent is trying to sell a property on behalf of the principal, this certification can serve as evidence of their authority to act in that capacity.
Much like the principal’s acknowledgment, this is where the agent signs, confirming their understanding and agreement to their assigned role.
The agent confirms they’ve understood their responsibilities by signing.
Example: This is the agent’s commitment to the role, much like saying, “I am aware of my responsibilities and will act in the best interests of the principal.”
This is essential for the same reasons as the principal’s: verification and contact.
The final segment is another acknowledgment, likely by a notary, that validates the agent’s signature and commitment.
The Utah Durable (Statutory) Power of Attorney Form isn’t just a document; it’s peace of mind. It guarantees that, come what may, there’s always someone you trust to look out for your interests.
By meticulously filling out each field, you’re following legal protocols and ensuring that your affairs remain in safe hands.
Always remember, it’s not just about choosing the right people but also providing precise, accurate details to make the process seamless and unequivocal.