Oklahoma Durable Power of Attorney (Financial)

Last Updated: 6/19/2015

Document Description

A power of attorney is a legal document in which one individual allows another individual to act on his or her behalf. The person giving the power is called the principal, and the person receiving it is called the agent.

There are different types of powers of attorney. The one used to make property and financial decisions is called a durable power of attorney for finances. Used in estate planning, this document gives the agent the power to take on certain financial responsibilities for the principal such as paying bills, submitting income taxes or selling property.

The agent’s power can be broad, allowing him or her to deal with all financial decisions, or quite limited. The principal decides how much or little power the agent is given. It is the agent’s responsibility to act in the best interest of the principal and to keep records of each transaction.

A financial power of attorney can be written so that it starts immediately and despite any future incapacitation, which makes it durable, or only when the principal comes to be mentally incompetent of making his or her decisions.

The Oklahoma Financial Power of Attorney is written to follow all Oklahoma laws. Once signed, witnessed and notarized, your form will be a legal document. For ease of access, you may choose to upload the completed document to your private ezEstatePlanner Vault. This service is secure and confidential - only you (or someone you designate) will have access to your vault.

Take control of your future by having the right legal documents in place. It will let you rest assured that your well-being, and that of your loved ones, is taken care of. For more information on all of the ezEstatePlanner legal forms, please feel free to browse our website including the categories Health Planning, Financial and Retirement Planning, Tax Planning and Wills and Inheritance.

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