The Oregon durable power of attorney form appoints an attorney-in-fact to manage one’s financial affairs, personal and/or business-related. The appointed individual needn’t be an accredited attorney, they just need to be somebody that the principal (executor of document) trusts completely with important matters, such as asset management, property negotiations, banking transactions, etc. Once this form is executed, the principal can only revoke it when they are of sound mind. Should the principal become disabled or incapacitated in any way, the attorney-in-fact maintains authority over all affairs that were previously granted as per the power of attorney document’s instructions. Due to the durable nature of this form, the principal would be wise to select a close friend or associate or, better yet, a spouse or family member as their attorney-in-fact.
“Durable” Definition – No exact definition mentioned in State statutes.
Laws – § 127.005
Signing Requirements – No exact requirements mentioned in State statutes; notarization and/or witness attestation is highly recommended.