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The Vermont Durable (Financial) Power of Attorney captures the pertinent information associated with the permitted transfer of rights to another, surrounding indicated financial matters. The distinction of the commitment being classified as “durable” is in reference to the fact that the established controls continue to be in effect even after the principal is presumed to be in an unconscious or vegetative condition. Documenting the institution of agency over stipulated financial areas can have enormous consequences, therefore it is suggested to seek counsel before carrying out the agreement’s finalization. The contract will provide space for the declarant to make choices as to which powers to grant as well as an area to express limitation or noted provisions on the accord. Signing the paperwork will require an appointed notary official’s supervision in conjunction with one (1) applicable witness per the Vermont Statutes Annotated 14 V.S.A. § 3503.

Laws

Statute – Powers of Attorney (14 V.S.A. § 3501 – 14 V.S.A. § 3516)

Definition – “Durable power of attorney” means a written power of attorney in which the authority of the agent does not terminate in the event of the disability or incapacity of the principal (14 V.S.A. § 3501(6)).

Signing Requirements – Notarization of the event of signing must be produced with corroboration by a licensed notary in addition to an approved witness (14 V.S.A. § 3503).