Power of Attorney Form for Utah

UTAH STATUTORY DURABLE POWER OF ATTORNEY

Document ID: UT-POA-FIN-2024-001
Effective Date: [Effective Date]
Version: 1.0
Governing Jurisdiction: State of Utah (Utah Code § 75-9-101 et seq.)

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1. STATUTORY & LEGAL COMPLIANCE NOTICE

IMPORTANT INFORMATION: This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and use your property whether or not you are able to act for yourself. The powers now will exist until you die or revoke the power of attorney or the agent resigns or is unable to act for you.

This document does not authorize anyone to make medical or other health care decisions for you.

If there is anything about this form that you do not understand, you should ask a lawyer of your own choosing to explain it to you.

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2. PARTIES & RECITALS

This Durable Power of Attorney is created by and between the following parties:

PRINCIPAL:
Name: [Principal Full Legal Name]
Address: [Principal Residential Address, County, State, Zip]
SSN (Optional/Ref): [Last 4 Digits]

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

SUCCESSOR AGENT (Optional):
If the Agent is unable or unwilling to act, I appoint:
Name: [Successor Agent Full Legal Name]
Address: [Successor Agent Residential Address, County, State, Zip]

RECITALS:
The Principal desires to appoint the Agent to act as the Principal’s true and lawful attorney-in-fact, granting the Agent full power and authority to manage the Principal’s affairs, property, and financial interests in accordance with the Utah Uniform Power of Attorney Act.

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3. GRANT OF GENERAL AUTHORITY

I, the Principal, grant my Agent and any successor agent, with respect to the following subjects as defined in the Utah Uniform Power of Attorney Act (Utah Code Title 75, Chapter 9), the authority to do all acts the Principal could do:

3.1 Real Property: Authority to buy, sell, exchange, lease, quitclaim, release, convey, mortgage, manage, and otherwise deal with any interest in real property, including the principal's homestead. 3.2 Tangible Personal Property: Authority to buy, sell, lease, and manage tangible personal property. 3.3 Stocks and Bonds: Authority to buy, sell, and exchange stocks, bonds, mutual funds, and all other types of securities and financial instruments. 3.4 Commodities and Options: Authority to buy, sell, and exchange commodities contracts and call or put options on stocks or stock indexes. 3.5 Banks and Other Financial Institutions: Authority to open, close, and maintain bank accounts; withdraw funds; sign checks; and access safe deposit boxes. 3.6 Operation of Entity or Business: Authority to manage, operate, or liquidate any business interest, including partnerships, LLCs, and corporations. 3.7 Insurance and Annuities: Authority to procure, pay premiums for, or surrender insurance policies and annuities. 3.8 Estates, Trusts, and Other Beneficial Interests: Authority to act for the Principal in all matters that affect a trust, probate estate, guardianship, or other fund from which the Principal is or may be entitled to a share or payment. 3.9 Claims and Litigation: Authority to institute, prosecute, defend, submit to arbitration, or settle any claim or litigation in favor of or against the Principal. 3.10 Personal and Family Maintenance: Authority to perform acts necessary to maintain the customary standard of living of the Principal and the Principal’s family. 3.11 Benefits from Governmental Programs or Civil or Military Service: Authority to enroll in, apply for, and receive benefits from Social Security, Medicare, Medicaid, or other programs. 3.12 Retirement Plans: Authority to manage and make elections regarding retirement accounts (e.g., IRAs, 401(k)s). 3.13 Taxes: Authority to prepare, sign, and file federal, state, local, and foreign income, gift, and other tax returns (Form 2848).

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4. EXHAUSTIVE OPERATIVE CLAUSES & LEGAL TERMS

4.1 DURABILITY PROVISION

In accordance with Utah Code § 75-9-104, this Power of Attorney is DURABLE and shall not be affected by the subsequent incapacity, disability, or incompetence of the Principal. The powers granted herein shall remain in full force and effect until the death of the Principal or the formal revocation of this instrument.

4.2 COMPENSATION & REIMBURSEMENT

The Agent is entitled to [Reasonable Compensation / No Compensation] for services rendered under this Power of Attorney. The Agent shall be entitled to full reimbursement for all reasonable out-of-pocket expenses incurred in the exercise of the powers granted herein, provided that the Agent maintains detailed records and receipts of such expenditures.

4.3 AGENT'S FIDUCIARY DUTY & LIMITATION OF LIABILITY

The Agent shall act in good faith, within the scope of authority granted, and in the Principal's best interest. The Agent shall keep a record of all receipts, disbursements, and transactions made on behalf of the Principal. The Agent shall not be liable to the Principal or the Principal’s successors in interest for any error of judgment or mistake of law, except in cases of willful misconduct, gross negligence, or breach of fiduciary duty.

4.4 INDEMNIFICATION

The Principal hereby agrees to indemnify and hold the Agent harmless from any and all liability, loss, or damage, including reasonable attorney fees, arising out of or in connection with the Agent's performance of duties hereunder, provided the Agent acted in good faith and in a manner reasonably believed to be in the Principal’s best interest.

4.5 RELIANCE BY THIRD PARTIES

Any third party, including financial institutions and recorders of deeds, may rely upon the validity of this Power of Attorney and a copy thereof as if it were an original. No person or entity who relies in good faith upon the representations of the Agent shall incur any liability to the Principal or the Principal's estate for permitting the Agent to exercise any power granted herein.

4.6 DISPUTE RESOLUTION & ARBITRATION

Any dispute, controversy, or claim arising out of or relating to this Power of Attorney shall be settled by binding arbitration in [County, e.g., Salt Lake County], Utah, in accordance with the Utah Uniform Arbitration Act. The prevailing party shall be entitled to recover reasonable attorney fees and costs.

4.7 GOVERNING LAW

This document shall be governed by and construed in accordance with the laws of the State of Utah, without regard to conflict of laws principles.

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5. EXECUTION & FORMAL SIGNATURE BLOCKS

CAUTION TO THE PRINCIPAL: This document must be signed in the presence of a Notary Public to be valid and recordable.

FOR THE PRINCIPAL: Signature: _____________________________________ Printed Name: [Principal Full Legal Name] Date: [Date of Signing] Location: [City, Utah]

NOTARY ACKNOWLEDGMENT State of Utah County of ___________________

On this ____ day of ___________, 20, before me, _________________________, a Notary Public, personally appeared [Principal Full Legal Name], proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her authorized capacity.

(Seal)

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Notary Public Signature

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FOR THE AGENT (ACCEPTANCE OF APPOINTMENT): I, [Agent Full Legal Name], have read the foregoing Power of Attorney and am the person identified therein as Agent for the Principal. I hereby acknowledge that when I act as Agent, I owe a fiduciary duty to the Principal and will act in accordance with the Principal's best interests.

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

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6. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Field Completion:
   • Open this document in Microsoft Word or Google Docs.
   • Use the "Find and Replace" function to replace all bracketed items (e.g., [Principal Full Legal Name]) with the specific legal data of the parties.
2. Witnessing/Notarization:
   • Do not sign until you are in the presence of a licensed Notary Public in the State of Utah.
   • While Utah law (75-9-105) emphasizes the Notary, it is best practice to have two disinterested witnesses sign as well if the document will be used for real estate transactions.
3. Digital Execution (Optional):
   • If using DocuSign or Adobe Sign, ensure the Notary portion is completed via a Remote Online Notarization (RON) service compliant with Utah Code Title 46, Chapter 1.
4. Recording:
   • If the Agent will manage real estate, the original document (or a certified copy) must be recorded in the County Recorder’s Office in every Utah county where the Principal owns real property.
5. Distribution & Retention:
   • The Principal should keep the original in a secure location.
   • The Agent should be provided with a high-resolution digital copy and a physical copy.
   • Certified copies should be provided to the Principal's primary financial institutions (Banks, Brokerages).
6. Revocation:
   • To revoke this power, the Principal must execute a written Revocation of Power of Attorney and deliver it to the Agent and all third parties previously relying on the document.