The Oklahoma durable power of attorney directs an attorney-in-fact to represent the principal indefinitely in all personal and/or business-related financial matters. The form provided will come into effect immediately upon execution and will remain valid until the principal chooses to revoke it, as long as they are competent. If the principal becomes incapacitated, the form continues to be binding, thus, the term “durable.” For the purposes of security and peace of mind, a person often appoints a spouse, relative, or close friend as their trustworthy representative. It would help if this appointed individual was also well versed in the dealings of finance, accounting, and business in general, but this is not mandatory.
“Durable” Definition – Not specifically defined in State statutes.
Laws – 58 O.S. § 1072
Signing Requirements (58 O.S. § 1072.2) – Two (2) Witnesses AND a Notary Public.