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The Washington Durable (Financial) Power of Attorney extends control permissions concerning described financial privileges from one individual to another for an instituted time period. A durable power of attorney’s authority can be initiated as active on a designated date or if the principal is deemed unconscious or in a state where they are no longer able to communicate their own decisions. The document’s versatility allows for the person issuing the powers to indicate the exact warranted actions of which they will be allotted to take command. The form can issue the following rights as selected by the declarant:

Real Property Sale, Lease, or Management
Personal Property Sale, Lease, or Management
Banking Withdrawl, Deposit, or Signing
Lending or Borrowing of Funds
Tax-Related Signing and Communication
Gifting of Funds or Property
Action in Legal Proceedings

Additional powers can be assumed to manage issues surrounding insurance, government benefits, and retirement holdings as the principal deems necessary. Signatures received by the principal and designated agent must be supervised and corroborated by a licensed notary or two (2) viable witnesses.

Laws

Statute – Uniform Power of Attorney Act (R.C.W. § 11-125-010 – § 11-125-903)

Definition – “Power of attorney” means a writing that uses the term “power of attorney” and grants authority to an agent to act in the place of the principal (§ 11.125.020(7)).

Signing Requirements – Acknowledgment by a notary or to valid witnesses needed to authenticate the contract’s execution (§ 11-125-050).