A New Jersey durable power of attorney is used by an individual, the “principal,” to nominate an agent to represent them and make financial decisions on their behalf. The agent’s authority is limited to financial matters only, such as paying bills, managing bank accounts, buying and selling real estate, and filing taxes. The specific actions that the agent can perform are described in the power of attorney and can be amended according to the principal’s preferences. Unlike a non-durable power of attorney, this form will remain in effect through the principal’s incapacitation.
Agent’s Duties – § 46:2B-11
Signing Requirements (§ 46:2B-8.9) – Notary Public
Statute – § 46:2B-8.2(b)
A durable power of attorney is a power of attorney which contains…words showing the intent of the principal that he authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity…