Through the Oklahoma Durable Financial Power of Attorney you choose an Attorney-In-Fact to direct your financial affairs immediately and if you should become mentally incompetent. The individual is recommended to be a spouse, family member, or close friend that has your complete trust. The agent must also have the business skills to manage the whole scope of your finances; that includes everything from simple bill paying to managing your investments. A locally available candidate is preferable, and it’s a good precaution to name an alternate in case you first choice turns out to be unavailable when needed. You can revoke this agreement at any time by filling out the revocation form.
- If you choose your spouse as your agent, in Oklahoma, the form doesn’t automatically void upon divorce.