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The Mississippi Durable (Financial) Power of Attorney furnishes an agent with the authority to engage in activities relative to the principal’s finances and property. To clarify, the expression “durable” means that the instrument continues to operate even if the grantor becomes disabled or incompetent. To realize this document, the conveyor of authority must elect an attorney-in-fact, determine which powers will be provided, and sign within the appropriate area (preferably while being observed by a notary public).

Laws

Statutes – Mississippi Uniform Durable Power of Attorney Act (§ 87-3-101 – § 87-3-113)

House Bill – HB 468 (2013)

Definition – “A durable power of attorney is a power of attorney by which a principal designates another as his/her attorney-in-fact in writing and the writing contains the words ‘This power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time,’ or ‘This power of attorney shall become effective upon the disability or 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 disability or incapacity, and, unless it states a time of termination, notwithstanding the lapse of time since the execution of the instrument.” (§ 87-3-105)

Signing Requirements – Although there is no legal statute concerning the execution of a power of attorney, the current house bill proposes that the principal should receive the acknowledgment of a notary public at the time of signing (HB 468, Section 105).