West Virginia Durable Power of Attorney Form
Use the West Virginia Durable Power of Attorney to create a binding statement that (generally) says “person X has the power to handle my finances should I no longer be able to manage it myself”. While the document covers far more information than that, it accomplishes a person’s need to plan for an event that leaves them unable to converse with those by their side. For example, if a person has a large portfolio of rental properties, they would most likely need to be sold (or at least left unrented) should they not be able to manage them due to an unforeseen medical emergency. Even if a property manager is present, they would need to be communicated with and paid. However, if said property owner had completed a durable POA, the contract would have gone into effect immediately upon their incapacitation, and the agent would have the power to sign lease agreements, evict tenants, hire/fire property managers, collect rent, and complete any other task that would have otherwise been completed by the principal. Real estate powers is only one part of what a durable POA grants, as the powers are expansive and include investments, taxes, and any other assets owned by the principal.
The formal name given to the person executing the form is “principal”, and the person they nominate is their “agent”.
Laws: § 39B-1-104
Statutory form: § 39B-3-101
Signing requirements (§ 39B-1-105): Either the principal (or someone the principal personally directs) must sign their name, and have their signature notarized.