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.

Designation Of Agent

 

Step 1: Name of Principal

 

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.

 

Step 2: Name of Agent

 

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.

 

Step 3: Agent’s Address

 

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.

 

 

Step 4: Agent’s Telephone Number

 

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.

Designation Of Successor Agent(S) 

 

Sometimes, your primary agent might be unable or unwilling to act. That’s why it’s wise to name a backup or two.

 

Step 1: Name of Successor Agent

 

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.

 

Step 2: Successor Agent’s Address

 

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.

 

Step 3: Successor Agent’s Telephone Number

 

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.

 

Step 4: Agent’s Details 

 

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.

Grant Of General Authority

 

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:

 

Step 1: Real Property

 

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.

 

Step 2: Tangible Personal Property

 

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.

 

Step 3: Stocks and Bonds

 

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.

 

Step 4: Commodities and Options

 

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.

 

Step 5: Banks and Other Financial Institutions

 

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.

 

Step 6: Operation of Entity or Business

 

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.

 

Step 7: Insurance and Annuities

 

This deals with insurance policies and annuity contracts.

Example: Your agent can decide on renewing your health insurance or withdrawing from an annuity.

 

Step 8: Estates, Trusts, and Other Beneficial Interests

 

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.

 

 

Step 9: Claims and Litigation

 

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.

 

Step 10: Personal and Family Maintenance

 

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.

 

 

Step 11: Benefits from Governmental Programs or Civil or Military Service

 

This manages benefits from the government or military services.

Example: Your agent can apply for veterans’ benefits on your behalf.

 

Step 12: Retirement Plans

 

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.

 

Step 13: Taxes

 

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.

 

Step 14: All Preceding Subjects

 

A quick way to grant authority in all the listed areas without initialing each one individually.

Grant Of Specific Authority

 

While the general authority section provides broad powers, this section addresses more nuanced, potentially life-altering decisions:

 

Step 1: Create, amend, revoke, or terminate an inter vivos trust

 

Your agent could set up a living trust for your assets, altering how they’re distributed upon your passing.

 

Step 2: Make a gift, subject to the limitations of Section 75-9-217, and any special instructions in this power of attorney

 

Your agent might gift some of your assets to charities or family members, following legal limitations.

 

Step 3: Create or change rights of survivorship

 

Your agent can modify who inherits certain assets upon your death.

 

Step 4: Create or change a beneficiary designation

 

Your agent might change the beneficiary of your life insurance from one relative to another.

 

Step 5: Authorize another person to exercise the authority granted under this power of attorney

 

If your agent feels they need assistance, they could grant some of their powers to another trusted individual.

 

Step 6: Waive the principal’s right to be a beneficiary of a joint and survivor annuity

 

Your agent might decide that waiving your beneficiary rights in a joint annuity is in your best financial interest.

 

Step 7: Exercise fiduciary powers that the principal has authority to delegate

 

If you have powers as a trustee, your agent can exercise these rights on your behalf.

 

Step 8: Disclaim or refuse an interest in property, including a power of appointment

 

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.

 

Step 9: Special Instructions 

 

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.”

Step 10: Effective Date

 

 

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.

Nomination Of Conservator Or Guardian

 

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.

 

Step 1: Name of Nominee for conservator of my estate

 

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.

 

Step 2: Nominee’s Address & Telephone Number

 

These are the contact details of the nominee.
This ensures easy accessibility and communication with the nominee when needed.

 

Step 3: Name of Nominee for the guardian of my person

 

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.

 

Step 4: Nominee’s Address & Telephone Number

 

Again, enter here their contact details.
This ensures easy accessibility and communication with the nominee when needed.

 

Signature And Acknowledgment

 

This area ensures the document is valid and allows the principal (you) to confirm their decision by signing.

 

Step 1: Your Signature & Date

 

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.”

 

 

Step 2: Your Name Printed, Address & Telephone Number

 

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.

 

Step 3: Agent’s Certification 

 

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.

Signature And Acknowledgment 

 

Much like the principal’s acknowledgment, this is where the agent signs, confirming their understanding and agreement to their assigned role.

 

Step 1: Agent’s Signature & Date

 

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.”

 

 

Step 2: Agent’s Name Printed, Address & Telephone Number

 

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.

 

Conclusion

 

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.