Colorado Durable Power of Attorney Form
The Colorado Durable Power of Attorney is a legal form that allows an individual (the principal) to elect another individual or entity (the agent) to make decisions and conduct tasks regarding finances as if they were the principal themselves. While the document must be drafted and executed when the principal is of a legally sound mind, the “durable” nature of this form provides the agent with the legal authority to continue their duties as per usual in the event of incapacity. Incapacity refers to a state of mind in which the principal cannot make decisions on their own. If a non-durable POA is needed, the general POA for finances can be used.
State law allows for more than one agent to be named if the principal so desires; it is recommended the principal opt for naming at least one other alternate agent should the primary agent fall sick, forego their duties, or not make poor decisions on the principal’s behalf.