Utah Durable Power of Attorney Form
The Utah Durable Power of Attorney is the state-provided document for giving residents a method of enabling a person with a wide-berth of authority over their finances. The purpose of the document is to allow a person to plan for a situation that leaves them unable to take care of themselves or their business. It does not matter how old the principal is or if they have a reason to believe their health subject to failing soon – the form can be used by anyone so long they’re a at least eighteen years old. Once signed, the person that the principal chose can handle whatever was specified in the form, which can include moving money in and out of bank accounts, selling property, running a business, and more. The document is specific to finances, medical matters can only be designated via an Advance Directive.
Should the agent be unavailable, be unwilling to perform the actions requested, or be unfit for the role, the principal can remove their powers with a revocation of power of attorney. However, it’s important to note that a POA like this can’t be terminated if the principal is already mentally ill (incapacitated). This obviously creates risk on behalf of the principal, as they can unknowingly elect an ill-fitting agent. To avoid this, the signatory should weigh their agent options carefully, and nominate additional successor agents who can perform should the primary agent be unable to.
Laws: § 75-9-104
Statutory form: § 75-9-301
Agent’s duties (§ 75-9-114):
- Follow all terms included in the power of attorney;
- Always act in good faith (honesty/intention);
- Perform all duties with the principal’s best interests in mind; and
- Limit their duties as to only what is permitted in the form.
Signing requirements (§ 75-9-105): The principal needs to sign the form in view of a Notary Public.