Wyoming Durable Power of Attorney (Financial)

Last Updated: 6/4/2015

Document Description

Wyoming. Where the mountains are high and accented with lush and beautiful flatlands. Each state in our union is similar in certain aspects, and different in others. This includes the law. Wyoming power of attorney laws are governed by Wyoming Chapter 5 and Article 1.

Surely you have heard the quote by John Lennon that “life is what happens while you are busy making other plans." While this may be true to some extent, it is not accurate when considering the protection of your family and your wealth. A good blueprint handed to your loved ones provides peace of mind for everyone. There are stories and nightmares of well-meaning individuals who, in order to prevent sad feelings, avoided the discussion of what would happen when they were unable to handle affairs or worse, had passed on.

Wouldn’t you rather be prepared? The ezEstatePlanner website has made an easy-to-use tool to create your own customized, state-specific Wyoming Durable Financial Power of Attorney. A power of attorney is the form used to dictate your requests when it comes to the fiscal matters of your holdings. It is a bunch of words on a piece of paper that puts forth the specifics YOU want. These powers take effect as soon as it is signed (immediately), or you may designate a specific circumstance in which the authority would begin to make decisions on your behalf.

First, you entitle someone you trust completely as your agent or representative. This person is legally referred to as the attorney-in-fact. This is the person who will make sure that everything you spell out is honored. The financial power of attorney covers items such as banking, investments, real estate, taxes and more. It can be as precise as detailing how much money is to be used for what or as broad as stating that your representative has the power to make decisions in your absence.

In Wyoming, both you and your agent or attorney-in-fact will sign. Then you must procure two unrelated people to sign as witnesses, or you must have the power of attorney notarized.

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