A durable power of attorney in Oklahoma is a legal document that grants authority to another individual (known as the agent or attorney-in-fact) to make important decisions on behalf of the principal (the person granting the power of attorney), even when the principal becomes incapacitated. It is called "durable" because it remains in effect even if the principal becomes mentally or physically unable to handle their affairs. In Oklahoma, there are two types of durable power of attorney: 1. General Durable Power of Attorney: This grants broad powers to the agent, allowing them to make various financial, legal, and healthcare decisions on behalf of the principal. The agent can manage the principal's assets, pay bills, enter into contracts, file taxes, and make healthcare-related decisions. This type of power of attorney is suitable for individuals who want to ensure someone trustworthy can handle their affairs in any situation. 2. Limited Durable Power of Attorney: This grants limited powers to the agent and restricts their authority to specific areas or transactions. For instance, the principal may only authorize the agent to handle their banking transactions or sell a particular property in their absence. Unlike a general durable power of attorney, the agent's powers are limited to specific matters designated by the principal. When creating a durable power of attorney in Oklahoma, it is crucial to select a trusted individual as the agent, such as a spouse, adult child, or close friend. The document should clearly outline the agent's responsibilities and the scope of their authority. It is also advisable to consult an attorney experienced in estate planning and power of attorney laws to ensure compliance with Oklahoma's specific requirements. Having a durable power of attorney in place is essential for individuals who anticipate possible future incapacity, as it ensures their financial and healthcare matters are properly managed by someone they trust. This legal instrument provides peace of mind and safeguards the principal's interests.
Durable Power Of Attorney For Oklahoma
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A power of attorney in fact for the conveyance of real estate or any interest therein, or for the execution or release of any mortgage therefor, shall be executed, acknowledged and recorded in the manner required by this chapter for the execution, acknowledgment and recording of deeds and mortgages, and shall be ...
An Oklahoma durable power of attorney can be a financial power of attorney, a general power of attorney, or medical power of attorney. A durable power of attorney does not need to be signed in the presence of a notary public and it does not need to be signed by witnesses.
In Oklahoma, your POA is durable (effective even after incapacitation) unless it explicitly states that it terminates when you become incapacitated.
It is important that you return the completed EGID Durable Power of Attorney form and the Identification Form by mailing them to EGID, Attn. Member Accounts, P. O. Box 11137, Oklahoma City, OK 73136-9998, or faxing them to EGID Member Accounts, 405-717-8939.
Last year, on November 1, 2021, the new Oklahoma Uniform Durable Power of Attorney Act took effect, which inadvertently repealed the Oklahoma statutory provisions that authorized executing a durable power of attorney for the purpose of making healthcare decisions.