An Oklahoma durable power of attorney form allows an individual (“principal”) to grant another person (“attorney-in-fact”) the authority to manage their finances, either with limitations or unrestricted. Individuals approaching old age often use this or prefer to delegate business matters.
“Durable” means that the form remains valid even if the principal becomes mentally incapacitated, allowing the attorney-in-fact to manage their financial affairs on their behalf.
Laws
In Oklahoma, power of attorney forms can be made durable by including the following or similar language:
“This power of attorney will continue to be effective if I become disabled, incapacitated, or incompetent.”
“This power of attorney shall not be affected by subsequent disability, incapacity, extended absence of the principal, or lapse of time.”
“This power of attorney shall become effective upon the disability, incapacity, or extended absence of the principal.”
- Relevant Laws: §§ 58-1071 — 58-1077 (Uniform Durable Power of Attorney Act).
- Presumed Durable: No. § 1072.
- Signing: The signature of the principal and two witnesses is required. § 1072.2.
- Notarization: Signatures of the principal and two witnesses must be acknowledged by a notary public. § 1072.2(3).
- Statutory Form: Yes. § 15-1003.