Vermont Durable Power of Attorney Form
The legal framework provided by the Vermont Durable Power of Attorney form makes it possible to write-in a person as one’s asset overseer or manager should they be faced with mental incapacitation. The document provides one with the ability to make a clear cut plan for how their assets will be managed should they lose the mental capacity for decision making. Once signed by the person completing it, it sits dormant until such an event were to occur. When (or if) it does occur, the person the principal specifies (their “agent”) would receive the power(s) listed in the POA. This may include powers relating to managing bank accounts, businesses, or real estate investments.
The one selected as the agent is commonly one’s husband or wife, although anyone can serve in the role so long the principal trusts them with the tasks assigned. By law, the agent is required to uphold a set of duties. However, the principal should do their due diligence by ensuring the person they intend to nominate is trustworthy, ethical, knowledgeable (in managing assets), and close by (should live in the same city or state).
Laws: § 3508
Signing requirements (§ 3503): There are two (2) requirements per VT law; the principal must have their name notarized, and at least one (1) witness must view the principal’s signature (and also sign the form).