A Virginia durable power of attorney enables an individual to select a trusted agent to act on their behalf for financial matters. The individual (“principal”) can choose whether the agent’s powers are effective immediately or only if they become incapacitated. The document allows the principal to select what authorities the agent will have and indicate any special instructions or restrictions.
A Virginia durable power of attorney enables an individual to select a trusted agent to act on their behalf for financial matters. The individual (“principal”) can choose whether the agent’s powers are effective immediately or only if they become incapacitated. The document allows the principal to select what authorities the agent will have and indicate any special instructions or restrictions.
To be effective, the principal must sign the power of attorney and the document should be notarized.[1]
In order for a power of attorney to be officially entered in a city’s or county’s records, it must have the signatures of either two witnesses or a notary public.[2]
“Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity.[3]
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