Alaska Limited Power of Attorney Form
An Alaska limited power of attorney is a form that enables a person (known as the “principal”) to assign specific authority to another individual (known as the “agent”) for a short period or until the task(s) have been completed. The principal will need to enter the date the document goes into effect, which can be the date of completing the form, or a specific date in the future. While not required, an expiration date can be included, as well, so that the agent no longer has power after that time.
According to Alaska law, it is essential that the agent does not exceed the powers granted to them, keeps a record of every transaction that was made in the name (or on behalf of) the principal, and acts in the principal’s best interest at all times (§ 13.26.610).
A limited power of attorney is unique compared to other types, like general, medical, durable forms. For example, the principal outlines the specific duties that an agent must complete. It typically lasts for a short duration as it is no longer valid after the end date. It is very important for the agent to understand their role and responsibilities. Both parties must have a conversation before signing to ensure that they are clear on the instructions provided in the form.
If the principal feels that the agent is violating any of the above, they are able to repeal their access by completing a revocation form. The document will terminate automatically if the principal becomes incapacitated (§ 13.26.620).
Signing Requirements (§ 13.26.600): Principal must sign in front of a notary public.