South Dakota Durable Power of Attorney Form
The South Dakota Durable Power of Attorney provides residents of the state with a legally valid means of putting their financial responsibility into the hands of a trusted friend or family member. The powers given with the form are anything but short-lived; they are near-permanent powers designed to give someone a means of keeping their assets in order after being formally declared as “incapacitated” by a doctor. As an example, if one completed and signed a durable POA five (5) years in the past and they got into a horrific car crash rendering them mentally debilitated, the person they specified in the document would have the right to present the form to banks and other institutions to move money, sell real estate, and do any other necessary activities. All actions done by the agent are solely to be in the best interests of the principal. Should that person recover from the crash, their assets would be well managed and in as good, or better, shape than before the accident.
This contrasts with a general POA, which can be used for giving a person short to medium-term rights over one’s finances (or a specific type of one’s assets). With a general form, the POA would instantly end if the principal were to be involved in an accident such as the one described above.
Laws: § 59-12-3
Agent’s duties: § 59-12-13