what is power of attorney colorado judicial website

What is a durable power of attorney in Colorado?

The Colorado durable power of attorney, as a certain type of Colorado poa, is used by a principal to select another individual (agent or attorney-in-fact) to represent him/her on legal, financial or medical related matters when the principal is no longer mentally or physically capable of doing so.

What does power of attorney mean?

Power of attorney (POA) is legal authorization for a designated person to make decisions about another person's property, finances, or medical care.

What is a durable power of attorney?

• Paying bills, including signing checks
• Buying, selling, and managing real estate
• Conducting business transactions
• Borrowing money
• Handling legal or insurance claims
• Filing tax returns
• Making donations or gifts
• Making medical decisions

What is the legal power of attorney?

What Is a Power of Attorney? A power of attorney (POA) is a written, legal document that authorizes one person to act on behalf of another. The person giving the power of attorney is called the ...

Durable Power of Attorney Colorado Form – PDF – Word

A Colorado durable power of attorney form can be used to assign a trustworthy adult the power to manage the finances of the executor of the document.

General Power of Attorney Colorado Form – Adobe PDF

The Colorado general power of attorney form is designed to enable an individual to make financial decisions on behalf of another party, referred to as “the principal.” The term “general” in this case is referring to the unlimited nature of the agent’s financial powers; they will be able to control all aspects of the principal’s finances until such a time that the principal becomes incapacitated, the power….

Limited Power of Attorney Colorado Form – PDF – Word

The Colorado limited power of attorney form allows a person to select someone else to handle a particular financial decision on their behalf and in their best interests. More often than not, the agreement will be terminated following the completion of the task to which the agent was assigned.

Medical Power of Attorney Colorado Form – Living Will – PDF

The Colorado medical power of attorney form is used when a person wishes to select another individual to make medical decisions on their behalf in anticipation of losing decisional capacity. It is common for this to occur prior to major surgery or during the early stages of a mental disorder.

Minor Child Power of Attorney Delegation Form Colorado – PDF

The Colorado minor (child) power of attorney form enables a parent or guardian to assign parental responsibilities to another party. The person assuming the responsibility, the “attorney-in-fact,” receives permission to perform any act necessary to maintain the child’s custody, health, education, property, and general well-being.

Real Estate Power of Attorney Colorado Form – PDF – Word

The Colorado real estate power of attorney allows a principal to select an agent to handle one (1) or more real estate-related tasks on their behalf. This specific type of power of attorney form cannot grant any powers other than those pertaining to real estate.

Tax Power of Attorney Colorado Form – Adobe PDF

The Colorado tax power of attorney form allows a resident of Colorado to let another person (usually an accountant or attorney) handle his or her tax filing with the Colorado Department of Revenue. Once complete the form needs to be signed by the parties involved and sent to the address below this paragraph.

What is a durable power of attorney?

A durable power of attorney is a legal document that allows a trusted individual named in the document to make important health care and end-of-life decisions on behalf of the principal (the person initiating the action). In practice, a durable power of attorney (also called a "health care power of attorney") is used by the named individual when the principal is unconscious or otherwise unable to consent to medical procedures. If the patient does not want to be kept alive through artificial respiration and has stated this clearly in a living will, for example, then the other individual may relay this information to the physician.

Can a power of attorney be revoked in Colorado?

Under Colorado law, a durable power of attorney may be revoked by the principal at any time. A divorce, annulment, or legal separation automatically revokes a durable power of attorney if the former spouse is the named individual. Additional details of Colorado durable power of attorney law -- or Colorado Patient Autonomy Act -- are listed in the following table.

What is a durable power of attorney in Colorado?

A Colorado durable statutory power of attorney form lets a person select anyone of their choosing to handle financial affairs on their behalf. The person selected as their agent will hold this title until the death of the principal unless revoked. After the form has been acknowledged before a notary public it may be used at any time by the selected agent.

Who signs a power of attorney?

The principal must sign the power of attorney in the presence of a notary public. In addition, the agent has the option to have their signature acknowledged on the Agent’s Certification to certify facts concerning a power of attorney ( § 15-14-705, § 15-14-742 ).

What does "durable" mean in power of attorney?

Definition of “Durable”. “Durable”, with respect to a power of attorney, means not terminated by the principal’s incapacity ( § 15-14-702 (2) ).

Who can wield principal authority over the principal's benefits?

The Attorney-in-Fact will be able to wield Principal Authority over the Principal’s Benefits (i.e. government programs, civil service, military, etc.) when the Principal initials the eleventh item on this list.

Who can assume principal powers over a principal's retirement plan?

The Attorney-in-Fact (or Agent) may assume Principal Powers over the Principal’s Retirement Plans if the twelfth item is initialed by the Principal.

Where is the Colorado statutory form?

Colorado does have a statutory form located at § 15-14-741 of the Colorado Revised Statutes.

Can a principal declare any additions or restrictions to the powers that he or she wish applied to the Attorney-?

The Principal may declare any additions or restrictions to the Powers that he or she wish applied to the Attorney-in-Fact’s Authority in the section titled “Special Instructions.” This is optional however, it is recommended Principals be as specific as possible when granting authority.

What is a power of attorney in Colorado?

Colorado power of attorney forms lets a person handle important decisions on someone else’s behalf related to finances, medical care, minor children, and any other special request. These types of forms can be used in a broad range of circumstances, including in a temporary situation where an individual will be out of town for a short period of time or in a long-term situation where an individual wants to protect him or herself in the event he or she becomes incapacitated. Because the person entrusted with the power will be able to take action on someone else’s behalf, it is important the individual granting the power trusts the person implicitly.

What is a durable power of attorney?

Durable (Statutory) Power of Attorney – This document allows a person to designate a friend or relative to take control of their financial matters in the event of some sort of incapacity or illness.

Can a minor power of attorney be notarized?

Although, it’s recommended that the principal’s signature be notarized. Minor (Child) Power of Attorney – A parent can use this form to appoint someone to be in charge of their children and make decisions on the children’s behalf if the parent is going to be unavailable.

What is the power of attorney act in Colorado?

The Uniform Power of Attorney Act is the statute that governs the Colorado Power of Attorney. This act regulates the use of the power of attorney in Colorado. When you grant someone your power of attorney, you are “the agent,” and the individual you’ve given the right to is “the principal.”

What is durable power of attorney?

With a durable power of attorney, the principal can legally make decisions on behalf of the agent, including if the principal becomes incapacitated. All Colorado power of attorney signed after January 1, 2010, are durable unless a document states it will be terminated in the event of the principal’s incapacitation. Word ODT PDF.

What happens to a POA if the principal becomes incapacitated?

The agent will retain the authority to oversee the principal’s financial matters indefinitely. This POA becomes invalid if the principal becomes incapacitated.

Who must appear before a notary in Colorado?

The principal and the agent must appear before a notary republic to notarize a POA document in Colorado.

What does an agent do for a principal?

The agent will have access to the principal’s medical records, the authority to speak to healthcare professionals, and the authority to make medical decisions on behalf of the principal. In this document, the principal can give the agent specific instructions about matters such as surgery, nursing home care, and medical treatments.