An Iowa durable power of attorney is an estate planning tool used to grant specific financial authorities to an appointed agent. For a principal to execute a durable power of attorney, they need to select an individual to act as their agent, someone who is trustworthy and who will always keep the principal’s best interests at heart when managing their financial affairs. This type of power of attorney will come into effect immediately after its execution (unless the principal establishes a specific date) and remains valid even if the principal becomes incapacitated.
Agent’s Duties – § 633B.114
Signing Requirements (§ 633B.105) – Notary Public
Statutory Form – § 633B.301
Statute – § 633B.102(3)
“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity.