One of the most common legal forms used is a Power of Attorney (POA). This form allows the signer, known as the Principal, to appoint one or more persons to serve as the Principal’s agent, or attorney-in-fact, to act on behalf of the Principal. The agent may sign a notarized Certification of Authority to verify POA status.
Colorado updated its Power of Attorney laws and adopted the Uniform Power of Attorney Act, effective January 1, 2010. A sample POA form and instructions are included in the state statutes.
The form is used to appoint an agent to have general financial powers, including authority over bank accounts, real property, personal property, stocks, and bonds, operating a business, insurance, estates and trusts, legal claims, personal and family maintenance, government benefit programs, retirement plans, and taxes.
The form does not authorize the agent to make health care decisions for the Principal. A health care or medical power of attorney can be used for that purpose.
A Power of Attorney may expire or become invalid for several reasons including the death of the principal, the incapacity of the principal (if it is not a durable power of attorney), revocation of the POA, divorce, an expiration date, completion of the authorized acts, or resignation of the agent.
Agent’s Certification of Authority
To deter fraud and verify that a POA is valid, a certification form, signed by the agent may be used. The agent makes a sworn statement, under penalty of perjury, that the POA is valid, and the agent has the authorization to act on behalf of the principal. Colorado law allows the recipient of a POA to request a certification.
A free PDF version of the Agent’s Certification of Authority form is available at Agent’s Certification of Authority of Power of Attorney form.
This article is not to be used or considered as legal advice. Contact an attorney for legal advice.
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