The Kentucky durable power of attorney grants an agent, or “attorney-in-fact,” the authority to perform financial transactions on behalf of a principal (the person granting authority). The document identifies each power that the agent will receive, along with any additional instructions or guidelines the principal wishes to include. In general, the agent is allowed to access bank accounts, control investments, manage real estate, pay bills, oversee business activities, and exercise any other right designated in the power of attorney. Once the document becomes effective, it only terminates if it is revoked or the principal dies.
Agent’s Duties – § 457.140
Signing Requirements (§ 457.050) – Notary Public
Statute – § 457.020(2)
“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity;