A Rhode Island durable power of attorney form delegates financial authority from the principal to an agent. Depending on the principal’s preferences, the agent can have the authority to act on the principal’s behalf for transactional matters relating to real estate, goods and chattel, insurance, business operations, and commodities.
The principal can appoint multiple agents. Multiple agents should work jointly by default unless the principal specifies otherwise. Once the principal signs the form before a notary, the agent can use it for its intended purpose.
Laws
- Statute: Chapter 18-16 (Rhode Island Short Form Power of Attorney Act).
- Presumed Durable: No, but you can add language to make the document durable (§ 18-16-2).
- Signing Requirements: The principal must sign the document. Witnesses aren’t necessary.
- Notarization: A notary public or another authorized official must acknowledge the principal’s signature (§ 18-16-2).
- Statutory Form: Yes (§ 18-16-2).
Specific Powers and Limitations
Restrictions on Gifts and Transfers
The agent can make gifts on the principal’s behalf if the principal has given explicit permission. If a gift falls within the agent’s granted authority, the agent should still consider the potential tax implications and the principal’s current financial situation when deciding if the gift is appropriate.
Agent’s Authority Limitations
The agent should only act in ways that the principal explicitly outlines in the document. For example, the agent may have permission to execute bond, share, and commodity transactions, but they may not have consent to engage in real estate transactions. The agent can make informed choices based on what they think fit as long as their actions align with the principal’s granted powers (§ 34-22-6).
Safekeeping and Registration
Rhode Island doesn’t have a statewide registry for storing durable POAs. These forms are usually private documents between the principal and the agent.
Each party should securely store a copy in their records. They may request to keep additional copies with a trusted attorney or a financial institution relevant to the principal’s affairs. You may record the form with your local recorder’s office, but you aren’t required to do so.
Additional Resources
- The Rhode Island Bar Association provides a Law Related Handbook for Seniors, Family, and Friends and a Community Resources, Agencies & Legal Links Index page to provide legal assistance.
- Help RI Law offers legal representation and help for individuals from low-income backgrounds.
