The Delaware Durable (Financial) Power of Attorney is a common choice for people who want to hand over certain fiscal powers related to their personal life. The terminology “durable” means that the instrument will continue to be effective even after the principal’s incapacitation. In fact, users can stipulate that the document only becomes effective once they are incapacitated. To put this written instrument into effect, the assigning party will have to name an agent within the form and select the powers they wish to appoint. Some of the powers that can be designated include those pertaining to:
- Banking
- Property (real & personal)
- Investments (stocks, bonds, commodities, options, etc.)
- Insurance
- Estates
- Business Activity
- Legal Claims & Litigation
- Government Benefits
- Taxes
Laws
Statutes – Title 12, Chapter 49A: Durable Personal Powers of Attorney Act (§ 49A-101 – § 49A-301)
Definition – “Durable” with respect to a power of attorney, means not terminated by the principal’s incapacity, and satisfying the requirements set forth in § 49A-104 of this title (§ 49A-102(2)).
Signing Requirements – Regulations regarding execution policy state the demand for acknowledgment by both one (1) eligible witness and a licensed notary (§ 49A-105).
Revocation – § 49A-110
Additional Resources
- Community Legal Aid Society – Delaware Powers of Attorney FAQ
- Delaware Courts – Durable Power of Attorney & Living Will
- Delaware Dept. of Health and Senior Services – Powers of Attorney
Related Forms
Download: Adobe PDF
General (Financial) Power of Attorney
Download: Adobe PDF, MS Word (.docx)