Durable Power of Attorney Form for Oklahoma

OKLAHOMA DURABLE POWER OF ATTORNEY

DOCUMENT ID: OK-DPOA-STAT-2024-V1
EFFECTIVE DATE: [Effective Date]
VERSION: 1.01-Institutional
GOVERNING JURISDICTION: State of Oklahoma (Title 15, §§ 1001-1020)

---

I. STATUTORY & LEGAL COMPLIANCE NOTICE

WARNING TO THE PRINCIPAL: THIS IS AN IMPORTANT LEGAL DOCUMENT. IT CREATES A DURABLE POWER OF ATTORNEY. BEFORE EXECUTING THIS DOCUMENT, YOU SHOULD KNOW THESE IMPORTANT FACTS:

1. THIS DOCUMENT GIVES THE PERSON YOU DESIGNATE AS YOUR AGENT (THE ATTORNEY-IN-FACT) BROAD POWERS TO HANDLE YOUR PROPERTY AND AFFAIRS, WHICH MAY INCLUDE POWERS TO SELL OR OTHERWISE DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU OR APPROVAL BY YOU.
2. THESE POWERS WILL EXIST EVEN AFTER YOU BECOME DISABLED, INCAPACITATED, OR INCOMPETENT.
3. YOU HAVE THE RIGHT TO AMEND OR REVOKE THIS POWER OF ATTORNEY AT ANY TIME AS LONG AS YOU ARE COMPETENT.
4. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL OR OTHER HEALTH CARE DECISIONS FOR YOU (UNLESS ACCOMPANIED BY A SEPARATE ADVANCE DIRECTIVE FOR HEALTH CARE).
5. THIS INSTRUMENT IS DRAFTED TO COMPLY WITH THE OKLAHOMA UNIFORM STATUTORY POWER OF ATTORNEY ACT.

---

II. PARTIES & RECITALS

PRINCIPAL:
Name: [Principal Full Legal Name]
Address: [Principal Residential Address, County, State]

AGENT (ATTORNEY-IN-FACT):
Name: [Agent Full Legal Name]
Address: [Agent Residential Address, County, State]

SUCCESSOR AGENT (OPTIONAL):
If the Agent named above is unable or unwilling to serve, I appoint:
Name: [Successor Agent Full Legal Name]
Address: [Successor Agent Residential Address, County, State]

RECITALS:
The Principal, being of sound mind, desires to appoint the Agent to manage the Principal’s financial affairs, property, and legal interests. This appointment is made to ensure continuity of management in the event of the Principal’s absence or incapacity.

---

III. OPERATIVE CLAUSES & LEGAL TERMS

1. SCOPE OF AUTHORITY & ENGAGEMENT

The Principal hereby grants to the Agent full power and authority to act on the Principal’s behalf. This power includes, but is not limited to, the following authorities as defined by the Oklahoma Uniform Statutory Power of Attorney Act:

• Real Property Transactions: To buy, sell, lease, mortgage, and manage real estate.
• Tangible Personal Property Transactions: To buy, sell, and manage all physical goods.
• Stock and Bond Transactions: To buy, sell, and exercise voting rights for securities.
• Commodities and Options Transactions: To trade in regulated exchanges.
• Banking and Other Financial Institution Transactions: To open, close, and modify accounts; withdraw and deposit funds.
• Business Operating Transactions: To manage any business interest or entity owned by the Principal.
• Insurance and Annuity Transactions: To pay premiums, surrender policies, or change beneficiaries (subject to specific limitations herein).
• Estate, Trust, and Other Beneficiary Transactions: To act in the Principal's interest regarding trusts or estates.
• Claims and Litigation: To institute, settle, or defend legal proceedings.
• Personal and Family Maintenance: To provide for the standard of living of the Principal and dependents.
• Benefits from Social Security, Medicare, Medicaid, or Other Governmental Programs.
• Retirement Plan Transactions: To manage IRAs, 401(k)s, and pension plans.
• Tax Matters: To sign tax returns (Form 2848), represent the Principal before the IRS or Oklahoma Tax Commission.

2. DURABILITY PROVISION

In accordance with the Oklahoma Uniform Statutory Power of Attorney Act, this Power of Attorney shall not be affected by subsequent disability or incapacity of the Principal, or by lapse of time. The authority granted herein shall be exercisable notwithstanding the Principal’s subsequent disability or incapacity.

3. COMPENSATION & REIMBURSEMENT

• Reimbursement: The Agent is entitled to reimbursement for all reasonable, documented out-of-pocket expenses incurred in the performance of their duties under this instrument.
• Compensation: The Agent [shall / shall not] be entitled to reasonable compensation for services rendered. If compensation is authorized, it shall be calculated at the rate of [Amount in USD] per hour or in accordance with a standard corporate fiduciary fee schedule if the Agent is a financial institution.

4. AGENT’S FIDUCIARY DUTIES

The Agent shall act in good faith, with care, competence, and diligence. The Agent must act in the Principal’s best interest and, except as otherwise provided in this Power of Attorney, shall keep the Principal's property separate and distinct from the Agent’s own assets.

5. INTELLECTUAL PROPERTY & BUSINESS INTERESTS

The Agent is authorized to manage, license, assign, or enforce any intellectual property rights owned by the Principal, including copyrights, patents, and trademarks. This includes the authority to execute "Work Made for Hire" agreements or assignments on behalf of the Principal.

6. MUTUAL CONFIDENTIALITY & NON-DISCLOSURE

The Agent shall maintain strict confidentiality regarding the Principal’s financial and personal affairs. Disclosure of information is authorized only when necessary to conduct the Principal’s business or as required by law or judicial process.

7. REPRESENTATIONS & WARRANTIES

The Principal represents and warrants that they are of legal age (18 or older) and possess the requisite mental capacity to execute this instrument. The Principal warrants that this document is executed voluntarily and without duress.

8. LIMITATION OF LIABILITY & INDEMNIFICATION

The Agent shall not be liable to the Principal or the Principal’s successors for any error of judgment or for any act or omission done in good faith, provided such act or omission does not constitute gross negligence or willful misconduct. The Principal's estate shall indemnify and hold the Agent harmless from any liability arising from the Agent’s good-faith exercise of authority granted herein.

9. DISPUTE RESOLUTION & ARBITRATION

Any dispute arising out of or relating to the Agent’s performance under this instrument shall be resolved through binding arbitration in [County], Oklahoma, in accordance with the rules of the American Arbitration Association.

10. GOVERNING LAW & JURISDICTION

This instrument is governed by the laws of the State of Oklahoma. If any provision is found to be invalid under Oklahoma law, such invalidity shall not affect the remaining provisions.

11. TERMINATION & REVOCATION

This Power of Attorney is revoked upon:

1. The death of the Principal;
2. The Principal’s execution of a written revocation delivered to the Agent;
3. The resignation of the Agent, provided a successor is available or the court appoints a guardian.

---

IV. EXECUTION & FORMAL SIGNATURE BLOCKS

IN WITNESS WHEREOF, I, the Principal, have hereunto set my hand this [Day] day of [Month], 20[Year].

FOR THE PRINCIPAL:

Signature: _____________________________________
Printed Name: [Principal Full Legal Name]
Date: [Date]

---

NOTARY ACKNOWLEDGMENT

STATE OF OKLAHOMA ) ) ss. COUNTY OF [County Name] )

Before me, the undersigned, a Notary Public in and for said County and State, on this [Day] day of [Month], 20[Year], personally appeared [Principal Full Legal Name], to me known to be the identical person who executed the within and foregoing instrument, and acknowledged to me that they executed the same as their free and voluntary act and deed for the uses and purposes therein set forth.

Given under my hand and seal the day and year last above written.

---

NOTARY PUBLIC
My Commission Expires: [Expiration Date]
Commission Number: [Number]

(Seal)

---

FOR THE AGENT (ACCEPTANCE OF APPOINTMENT):

I, [Agent Full Legal Name], have read the foregoing Oklahoma Durable Power of Attorney and accept the appointment as Agent. I acknowledge my legal and fiduciary duties to the Principal.

Signature: _____________________________________
Printed Name: [Agent Full Legal Name]
Title: Attorney-in-Fact
Date: [Date]

---

V. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation of Document: Replace all bracketed fields ([...]) with the specific legal names, addresses, and dates. Ensure all "Optional" sections are either completed or struck through.
2. Verify Signatory Capacity: Confirm the Principal is of sound mind and not under duress. Under Oklahoma law, mental capacity for a DPOA is generally the same as the capacity required to enter into a contract.
3. Formal Execution (Signing):
   • The Principal must sign the document in the presence of a Notary Public.
   • While Oklahoma law (15 O.S. § 1003) focuses on notarization, it is highly recommended to have two (2) disinterested witnesses observe the signing to prevent future challenges.
4. Digital Signature (DocuSign/Adobe Sign): If executing digitally, ensure the platform provides a "Digital Audit Trail" and complies with the Oklahoma Uniform Electronic Transactions Act (12A O.S. §§ 15-101 et seq.). The Notary must use an approved Electronic Notary (e-Notary) seal if the state allows for remote online notarization (RON).
5. Record Retention & Filing:
   • Original: The Agent should hold the original document.
   • County Clerk: If the Agent intends to use this Power of Attorney for Real Estate Transactions, the document MUST be recorded with the County Clerk in the Oklahoma county where the real estate is located (16 O.S. § 20).
   • Financial Institutions: Provide certified copies to the Principal’s banks, brokerage firms, and insurance companies immediately to ensure the Agent's authority is "on file."
6. Review: Periodically review the document (every 3-5 years) to ensure the named agents are still willing and able to serve.