11,252 Downloads

The California Durable (Financial) Power of Attorney formally delivers another individual with the power to act as the principal when carrying out delegated performances in their name. The appointed powers will pertain to the executor’s finances/assets with this particular form. For example, suppose the principal needs someone to execute a banking transaction on their behalf. In that case, they can delegate that power to an agent who will then have the ability to review and sign any applicable documentation. The assigning party is required to identify the attorney-in-fact within the form, pick & choose the powers they wish to delegate, and attest to the document’s terms by furnishing their signature as instructed. (This agreement continues to persist upon the incapacitation of the principal party.)

Laws

Statute – California Probate Code: Division 4.5. Powers of Attorney (§ 4000 – 4545)

Definition – “Durable power of attorney” means a power of attorney that satisfies the requirements for durability provided in Section § 4124 (§ 4018).

Signing Requirements – Either two (2) witnesses (meeting the standards of § 4122) or a notary public must be present at the time of signing to validate the instrument (§ 4121).

Revocation – § 4151