A Vermont general power of attorney gives an agent the ability to manage the personal and financial affairs of another individual (the “principal”). The document gives the agent full authority to manage the principal’s financial matters, accessing their information, and perform any act relating to their accounts, transactions, and property. The principal may also appoint an alternative agent to act on their behalf in the event that the primary agent is unavailable.
Under “Durable Power of Attorney” on the form, the principal will need to initial next to the correct statement to indicate that they wish the power of attorney to be non-durable. “Non-durable” means the arrangement will terminate automatically if the principal becomes disabled or incapacitated and unable to communicate their decisions.
Signing Requirements (14 V.S.A. § 3503(1)) – One (1) Witness and Notary Public
Durable Power of Attorney – Appoints an agent whose powers of attorney are unaffected by the principal’s disability or incapacity.