The Alaska durable power of attorney lets a person (the principal) appoint another individual (the agent) to handle financial matters on their behalf. The term “durable” means that the power of attorney remains effective even if the principal can no longer make decisions for themselves, i.e., physically or mentally incapacitated. An agent named in a durable power of attorney must comply with the specific authorities granted to them through the document and must always make decisions with the principal’s best interests in mind. Because of the extensive and significant powers granted through a durable financial power of attorney, the principal would be wise to appoint someone close to them that they trust to act in accordance with their values and well-being.
Agent’s Duties – § 13.26.610
Signing Requirements (§ 13.26.600) – Notary Public
Statutory Form – § 13.26.645
“durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity; in this paragraph, “incapacity” has the meaning given in AS 13.26.695;