An Iowa durable power of attorney form is a document that residents can use to name an individual with the authority to make decisions on their behalf. In the event of the principal’s disability or incapacitation, the representative will be able to manage their various accounts and finances. Depending on the specifics of the contract, it will become effective immediately or only if the principal is incapacitated.
It is recommended to nominate a successor attorney-in-fact if the default agent is unavailable. This agreement can be revoked by the principal at any time as long as they are mentally fit to do so. It is important to note that if the principal’s spouse is appointed as their attorney-in-fact, the agreement does not automatically terminate upon divorce as it does in most other states.