Oklahoma Durable (Financial) Power of Attorney Form
The Oklahoma Durable (Financial) Power of Attorney is a contract that is carried out by an individual—the Principal—who wants to state in a legally-binding terms what a party they elect to represent them—their Agent—can and cannot do when acting on their behalf. In order for the contract to be durable (meaning that it will not extinguish upon the Principal’s “disability, incapacity, or extended absence”), state law necessitates that certain words must be stated in the Power of Attorney, of which are noted in the section below.
State law, specifically § 58-1072, mandates that for a a Power of Attorney to be recognized as being durable in nature, it contains the following words (or words to a similar effect that show the Principal’s intention in this regard):
- “This power of attorney shall not be affected by subsequent disability, incapacity, or extended absence of the principal, or lapse of time”, or
- “This power of attorney shall become effective upon the disability, incapacity, or extended absence of the principal.”
State Laws & Signing Requirements
State Laws – Uniform Durable Power of Attorney Act
Signing Requirements (§ 58-1072.2) – In order for a Durable Power of Attorney to be valid in the state of Oklahoma, the following must be held true:
- The Principal has signed the Power of Attorney, and
- The signing took place in the presence of two (2) valid witnesses, who must also sign the form.
If the Principal cannot sign the Power of Attorney themselves, they may direct another individual to sign it in their conscious presence.