This form is a Uniform Statutory Form of Power of Attorney for California for property, finances and other powers you specify. It also provides that it can be durable.
Uniform Statutory Form Power Of Attorney Vs Durable Power Of Attorney
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How to fill out California Uniform Statutory Power Of Attorney - Property - Finances - Section 4401?
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FAQ
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
Ends with Your Death ? In the event of your death, a durable power of attorney will no longer be valid. This document is not a replacement for the last will and testament or trust. It Can be Revoked or Not Honored at Any Time ? Due to the lack of court oversight, not everyone honors a durable power of attorney.
The difference has to do with whether the powers remain effective after the onset of a disability. That is, the regular power of attorney ceases to be effective if you become disabled, whereas the ?durable? power of attorney continues to be effective despite your subsequent disability.
The Uniform Statutory Form Power of Attorney for Financial Matters must be signed by the principal, dated and acknowledged by a notary public (Probate Code § 4402(c)).
Durable Power of Attorney This is the most common type of POA?it gives your agent the power to make decisions relative to some issues if you are incapacitated. It also empowers your agent to act on your behalf in legal matters and other vital matters during a time when you can't be present.