Durable Power of Attorney Form | Texas

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Updated on May 10th, 2023

A Texas durable financial power of attorney, also known as the “statutory” form, can be used to designate powers to another person for monetary reasons that are broad and sweeping. This particular document remains effective for financial use even if the principal should be in a position where they cannot think for themselves. The representative chosen by the principal should be trustworthy and act in the best interests of the principal only.

Laws

  • “Durable” Definition (§ 751.002(4)) & 751.0021 – An instrument is a durable power of attorney for purposes of this subtitle if the instrument: (1) is a writing or other record that designates another person as agent and grants authority to that agent to act in the place of the principal, regardless of whether the term “power of attorney” is used; (2) is signed by an adult principal or in the adult principal’s conscious presence by another adult directed by the principal to sign the principal’s name on the instrument; (3) contains: (A) the words: (i) “This power of attorney is not affected by subsequent disability or incapacity of the principal”; or (ii) “This power of attorney becomes effective on the disability or incapacity of the principal”; or (B) words similar to those of Paragraph (A) that clearly indicate that the authority conferred on the agent shall be exercised notwithstanding the principal’s subsequent disability or incapacity; and (4) is acknowledged by the principal or another adult directed by the principal as authorized by Subdivision (2) before an officer authorized under the laws of this state or another state to: (A) take acknowledgments to deeds of conveyance; and (B) administer oaths.
  • Statute – § 751.0021 (Requirements of a Durable Power of Attorney)
  • Signing Requirements (§ 751.0021(4)) – Notary public.

Unless restricted by the principal, the powers granted to the agent are as follows:

  • Real property transactions;
  • Tangible personal property transactions;
  • Stock and bond transactions;
  • Commodity and options 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 governmental programs or civil or military service;
  • Retirement plan transactions;
  • Tax matters.