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The South Carolina Durable (Financial) Power of Attorney is a legal document delivered to issue third-party authority for indicated financial affairs as a proactive effort to secure control of a principal’s assets. A durability clause also ensures that the permissions bestowed will maintain in existence even after the declarant’s possible physical or mental incapacity. The structure of the provided document enables the principal to pick and choose the privileges to endow to the attorney-in-fact by initialing the desired permissions at their discretion. Powers to make decisions, take action, and communicate on behalf of the declarant can be doled to the individual concerning banking, property (real and personal), taxes, and/or legal matters.

Laws

Statute – South Carolina Uniform Power of Attorney Act (§ 62-8)

Definition – “Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity (§ 62-8-102(2)).

Signing Requirements – State regulation for a legal power of attorney contract stipulates that a notary and two (2) witnesses be available to view and verify the execution of the document (§ 62-8-105(2)).