Pennsylvania Durable (Financial) Power of Attorney Form
The Pennsylvania Durable (Financial) Power of Attorney is a legal document that makes it possible for an individual, referred to as the Principal, to achieve two goals:
- Delegate their decision making powers regarding financial matters to another party (their Agent), and
- Cement in law that the powers bestowed to the Agent will not be impacted by the event of their incapacity.
The second goal is possible via the execution of this type of Power of Attorney as it contains terms that permit the Agent to lawfully continue fulfilling their duty even if the Principal becomes incapacitated.
State Laws & Signing Requirements
State Laws – Powers of Attorney
Signing Requirements (§ 5601(b)) – State law stipulates that for a Durable Power of Attorney to be effective, the following signing requirements must be met:
- The Principal must sign it either by signature or mark (should they be incapable of signing it themselves, they are permitted to direct another individual to sign it on their behalf).
- A Notary Public must acknowledge the Principal’s signature,
- Two (2) individuals must witness the Principal’s signature, and
- Include the notice outlined § 5601(c) at the beginning of the form, of which the must Principal sign.