Pennsylvania Durable Power of Attorney Form
The Pennsylvania Durable Power of Attorney is a document that makes it possible to assign an individual with near-permanent rights with respect to one’s asset management (including owned entities). It can be used for any Pennsylvania residents so long they are capable of making decisions on their own and are of adult age. It is part of the estate planning process, and makes it so the principal (one completing the document) has a means of protecting their assets should their mental health become in jeopardy. The person selected as the agent is commonly the principal’s spouse. If single, the principal can choose a child, cousin, sibling, or close friend. However, the agent’s relation to the principal doesn’t matter nearly as much as how well they can perform their duties, which include:
- Acting in accordance with the principal’s best interests;
- Always acting in “good faith”; and
- Limiting their decisions and oversight to specifically what was granted in the POA.
Laws: Ch. 56, Title 20
Signing requirements: The principal’s signature must be viewed by two (2) witnesses AND notarized.