Vermont Durable Power of Attorney Form

A Vermont durable power of attorney authorizes an agent to make financial choices on behalf of the principal and remains effective throughout the principal’s lifetime unless revoked. The principal can’t use this form for health care or guardianship matters.

Download: PDF or MS Word.

Specific Powers and Limitations

Restrictions on Gifts and Transfers

An agent can make a gift to an individual or for an individual’s benefit, including a contribution to a prepaid tuition plan or tuition savings account under 26 U.S.C. § 529, a contribution to an account under the Vermont Uniform Transfers to Minors Act, or a gift to a trust (§ 4047).

The agent should only make a gift of the principal’s property if they know it’s consistent with the principal’s objectives. If the agent doesn’t know the principal’s objectives, they should use the following factors to make financial decisions for the principal:

• The principal’s estate plan.
• Evidence of the principal’s intent.
• The principal’s personal gift-giving history.
• The inheritance, income, estate, or gift tax consequences.
• Whether the potential gift could result in the principal lacking sufficient assets to cover the principal’s needs during any period of Medicaid ineligibility.
• How the gift impacts the principal’s access to care, housing options, and general welfare.

Agent’s Authority Limitations

The agent can only complete specific acts on the principal’s behalf or perform certain actions with the principal’s property if they have explicit permission and no other agreement prohibits it (§ 4031). Some of these acts include the following:

• Terminate, revoke, amend, or create an inter vivos trust.
• Make a gift.
• Change or create a beneficiary designation or rights of survivorship.
• Delegate the authority granted under the POA.
• Waive the principal’s right to be a beneficiary of a joint and survivor annuity.
• Authorize another person to exercise the granted authority.

Furthermore, under the same section, only an agent who is a descendant, spouse, or ancestor of the principal can exercise authority to create an interest in the principal’s property for themselves or an individual whom the agent owes a legal obligation of support. This includes making gifts by disclaimer, beneficiary designation, right of survivorship, gift, or otherwise.

Revocation and Termination

Termination

A durable power of attorney terminates when any of these circumstances occur (§ 4010):

• The agent resigns.
• The agent or the principal dies.
• The agent becomes unwilling or unable to act.
• The principal retracts the agent’s authority.
• The DPOA reaches maturity or achieves its established purpose.
• The principal revokes the document.

The agent’s authority is terminated when any of these situations happen:

• The DPOA terminates for any of the aforementioned reasons.
• The agent becomes unavailable or incapacitated.
• The agent dies.
• The principal revokes the authority.
• A petition for separation, annulment, or divorce is filed with respect to the agent’s marriage to the principal. A decree of nullity also produces a similar result.

Revocation

If you execute a new power of attorney, it doesn’t automatically revoke the original document unless the subsequent POA provides that the previous form is revoked. The principal must inform the agent that they no longer have authority for their revocation to hold up. Furthermore, the principal can’t revoke a DPOA if a medical professional has classified the principal as incapacitated.

Safekeeping and Registration

You only have to record your DPOA in the land records office, which is in your town or city clerk’s office, if it assigns real estate-related authority. Please ensure that there’s a copy in an office for each city in which you have property.

Otherwise, you have flexibility when it comes to storing your document. Consider providing a copy to your agent and keeping one for yourself. You may also entrust copies to an attorney or a bank where you conduct most of your financial affairs.

Additional Resources

• VTLawHelp.org: Provides example documents to reference when filling out yours.
• Vermont State Bar: Offers a guide to help individuals manage their future finances.
• Vermont Legal Aid: Helps low-income residents handle their civil legal matters, including DPOA document creation.