Durable Power of Attorney Form | Kentucky

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Updated on May 5th, 2023

A Kentucky durable power of attorney form is used by individuals to appoint a third party as their attorney-in-fact to handle any and all monetary decisions on their behalf. The agent cannot compensate themselves and must act in the principal’s best interests in every transaction. The form remains valid even if the principal can no longer make decisions for themselves due to mental illness or health issues.

The attorney-in-fact may have the power to act in any of the following manners as designated by the principal:

  • Real estate transactions
  • Stock and bond transactions
  • Commodity and option transactions
  • Tangible personal property transactions
  • Banking and other financial institution transactions
  • Business operating transactions
  • Insurance and annuity transactions
  • Estate, trust, and other beneficiary transactions
  • Claims and litigation
  • Personal and family maintenance
  • Benefits from social security, Medicare, Medicaid, or other government programs
  • Retirement plan transactions
  • Tax matters, including any transactions with the Internal Revenue Service
  • Decisions regarding lifesaving and life-prolonging medical treatment
  • Decisions relating to medical treatment, surgical treatment, nursing care, medication, hospitalization, institutionalization in a nursing home or other facility, and home healthcare
  • Transfer of property or income as a gift to the principal’s spouse for the purpose of qualifying the principal for governmental medical assistance