The Washington durable power of attorney form corresponds to a legal form that is used to provide a trusted individual with authority to handle certain matters on someone else’s behalf. The durable power of attorney form can be a very beneficial legal document for some people, especially individuals who cannot spare time to take care of their finances, and because it provides security regarding various matters. This particular power of attorney form covers financial matters. There could always be a time when you may want somebody else to do financial transactions on your behalf, such as real property transactions, for example, when you cannot do it personally. You can decide what specific legal powers you wish to delegate to your trusted individual.
The power of attorney form discussed here does not cover health-related matters. If this is something you are concerned about, you will need a separate power of attorney form for these. Keeping powers of different categories in separate documents is convenient because you most likely want certain people to manage different matters for you.
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The form is called “durable” because the document stays valid and effective even if you become incapacitated (after injury, for example, or in case you become disabled). The default in this type of power of attorney form for the state of Washington is that it will be effective even under these conditions. Having a durable power of attorney is important if you cannot take care of your matters yourself.
The durable power of attorney in Washington may become effective upon signing after two witnesses have signed it. It is also advised to get it acknowledged by a notary public. You will need to specify in the form whether you agree with this or want it to become effective only in case you have been proclaimed incapacitated by your medical provider. The power of attorney will stop being effective upon the death of the person who creates it or if they decide to revoke it.
The Washington laws define the terms used in a power of attorney form in this state. Most importantly, the laws call the person who is granted the powers to act for the other person an “agent.” An agent can also be called an “attorney-in-fact.” There could be an original agent, as well as a “coagent” or a “successor agent.” You can assign a successor agent who will be acting on your behalf if the original agent cannot. The person who grants the powers is called the “principal.” These are the two most commonly used terms. As we mentioned above, “durable” means that the form’s power continues even if the agent is incapacitated. The laws also define incapacitation. A person is deemed incapacitated in the following circumstances:
There are certain requirements for signing a power of attorney form in the state of Washington. The principal must sign and date the power of attorney. The signing of a power of attorney must be acknowledged by a notary public or a person with similar authorization powers, or two or more witnesses should attest it and sign the form. The witnesses must be competent individuals who cannot be care providers for the principal and cannot be related to the agent. If the principal physically cannot sign their name on the form, there are specific guidelines for doing it. Keep in mind that your signature will be considered genuine if it is acknowledged by a notary public, so notarization is always recommended.
When you are ready to complete your durable power of attorney form, use our form building software for best results. Follow these steps when creating the form:
First of all, the principal needs to state their name.
Write the name of the person who you have decided to assign as your primary agent.
A successor agent, or an alternative agent, is the person who will be acting instead of the original agent in case the original agent cannot act on your behalf.
Decide if the form will take effect straight away, or only in case you become incapacitated.
The list usually incorporates many financial powers, such as dealing with deposits and payments, managing your accounts, safe deposit box, bonds and stocks, and different kinds of property (real and personal). Usually, the principal agrees to grant authority to the above-listed powers and can assign additional ones from the suggested list by checking the corresponding boxes. Addition powers can include the following and more:
The principal has to sign and date the form before giving it to a notary public and their witnesses.
This step is highly recommended and ensures that the signature on the form will be admitted as genuine by any financial institution.
Two witnesses need to provide their names and addresses and confirm witnessing the creation of the form with their signatures.