DURABLE FINANCIAL POWER OF ATTORNEY

(Connecticut – Conn. Gen. Stat. Chapter 15)

[// GUIDANCE: This template is drafted to comply with the Connecticut Uniform Power of Attorney Act (“CT-UPOAA”) and is intended for customization by licensed counsel. All bracketed items must be completed or deleted before execution.]

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block

I. DOCUMENT HEADER

1. Title & Parties
   This Durable Financial Power of Attorney (this “Power”) is executed on [EFFECTIVE DATE] (the “Effective Date”) by [PRINCIPAL NAME], of [PRINCIPAL ADDRESS] (the “Principal”), in favor of [AGENT NAME], of [AGENT ADDRESS] (the “Agent”).

2. Recitals
   A. The Principal desires to delegate authority over the Principal’s property and financial affairs to the Agent, subject to the terms herein.
   B. The parties intend this Power to be durable, i.e., to remain effective notwithstanding the Principal’s subsequent incapacity or incompetence.
   C. This Power is governed by, and intended to comply with, the Connecticut Uniform Power of Attorney Act, Conn. Gen. Stat. Chapter 15 (the “CT-UPOAA”).

3. Jurisdiction & Venue
   All matters arising under or relating to this Power shall be governed by Connecticut substantive law (“state_power_of_attorney_law”) and heard exclusively in the Connecticut Probate Court having jurisdiction over the Principal’s domicile (“state_probate_court”).

II. DEFINITIONS

The following terms have the indicated meanings. Capitalized terms used but not defined have the meanings assigned by the CT-UPOAA.

• “Assets under Management” – all property, rights, and interests subject to the Agent’s authority at the time the act or omission giving rise to liability occurs.
• “Digital Assets” – electronic records, accounts, or content in which the Principal has a right or interest.
• “Durable” – having effect notwithstanding the Principal’s incapacity, as provided in Conn. Gen. Stat. § 1-350d.
• “Incidental Powers” – all powers reasonably necessary to effectuate the expressly granted powers, including the power to execute, deliver, and record documents.
• “Successor Agent” – any person designated below to act if the Agent resigns, dies, becomes incapacitated, or is otherwise unable to serve.

[// GUIDANCE: Add or delete definitions as needed for the Principal’s specific situation.]

III. OPERATIVE PROVISIONS

1. Grant of Authority
   The Principal hereby appoints the Agent, with full power of substitution, to act for the Principal in accordance with the powers specified in Section 3.2 and the limitations in Section 3.3.

2. Enumerated Powers
   Subject to Section 3.3, the Agent may exercise all powers enumerated in Conn. Gen. Stat. § 1-351 by initialing the applicable categories below. Any category not initialed is withheld.

[// GUIDANCE: Strike or add categories to match CT-UPOAA § 1-351(a)(1)–(13) and any desired special powers (e.g., gifting, delegation, survivorship changes) which must be expressly granted.]

3. Special Powers Requiring Express Language
   The Agent is NOT authorized to create or change beneficiary designations, make gifts, change rights of survivorship, or delegate authority unless expressly granted below.
   • Gift-Making Authority (annual federal exclusion limit): _ (yes/no)
   • Beneficiary Designations: _ (yes/no)
   • Delegation to Third Parties: ____ (yes/no)

4. Effective Date
   ☐ Immediate upon execution.
   ☐ Springing upon written determination of incapacity by [Name/Title of Physician or Licensed Psychologist].
   If no box is checked, the power is immediate.

5. Duration
   This Power is durable and shall continue until revoked under Article V or terminated by operation of law.

6. Successor Agents
   (a) First Successor Agent: [SUCCESSOR AGENT 1 NAME & ADDRESS]
   (b) Second Successor Agent: [SUCCESSOR AGENT 2 NAME & ADDRESS]
   Each Successor Agent shall have authority only upon the resignation, death, incapacity, or refusal to act of the prior-listed Agent(s).

IV. REPRESENTATIONS & WARRANTIES

1. Principal Representations
   a. Capacity: Principal is at least 18 years of age and of sound mind.
   b. Title to Property: Principal holds or will hold lawful title to the Assets under Management.

2. Agent Representations
   a. Acceptance: Agent accepts the appointment and will act in good faith.
   b. Eligibility: Agent is not disqualified under Conn. Gen. Stat. Chapter 15 or any applicable law from serving.
   c. No Conflicting Obligations: Execution of this Power will not breach any agreement or fiduciary duty binding on the Agent.

[// GUIDANCE: Consider attaching an “Agent Certification” for third-party reliance, per CT-UPOAA § 1-350o.]

V. COVENANTS & RESTRICTIONS

1. Fiduciary Duties
   The Agent shall:
   • act in accordance with the Principal’s reasonable expectations or best interest;
   • act in good faith, with loyalty and care;
   • keep records of all receipts, disbursements, and transactions;
   • maintain the Principal’s property separate from the Agent’s own;
   • cooperate with persons having authority to make health-care decisions.

2. Notice & Reporting
   a. Accounting – On written request of the Principal or court-appointed fiduciary, the Agent shall provide a written accounting within [30] days.
   b. Material Events – Agent shall promptly notify the Principal (or Successor Agent) of any event rendering the Agent unable to serve.

3. Restrictions
   The Agent shall not:
   • create joint accounts between the Principal and the Agent;
   • self-deal or commingle funds;
   • make or change testamentary dispositions;
   • take any action expressly withheld in Section 3.2.

VI. DEFAULT & REMEDIES

1. Events of Default
   a. Breach of fiduciary duty;
   b. Misappropriation or self-dealing;
   c. Conviction of a crime involving dishonesty;
   d. Incapacity of the Agent as determined by a court of competent jurisdiction.

2. Notice & Cure
   The Principal (or an interested party) may serve written notice specifying the default. The Agent shall have [10] days to cure, where curable.

3. Remedies
   a. Removal – The Principal or any interested person may petition the Probate Court for suspension or removal of the Agent.
   b. Accounting – The Probate Court may compel an accounting and surcharge the Agent.
   c. Injunctive Relief – The Principal may seek equitable relief to prevent or redress a breach of fiduciary duty (“fiduciary_remedy”).
   d. Damages – The Agent is liable for damages proximately caused by a breach, subject to Article VII.

VII. RISK ALLOCATION

1. Indemnification
   a. Agent’s Duty to Principal – The Agent shall indemnify and hold harmless the Principal from losses arising from the Agent’s breach of fiduciary duty, wilful misconduct, or gross negligence (“agent_fiduciary_duty”).
   b. Principal’s Indemnity of Agent – The Principal shall indemnify the Agent against claims by third parties arising from lawful acts performed in good-faith reliance on this Power.

2. Limitation of Liability
   To the fullest extent permitted by law, the Agent’s aggregate liability to the Principal shall not exceed the “Assets under Management” as of the date the cause of action accrues (“assets_under_management”). This cap does not apply to wilful misconduct or breaches involving bad faith.

3. Insurance
   The Principal authorizes the Agent to procure fiduciary liability insurance at the Principal’s expense, if commercially reasonable.

4. Force Majeure
   Neither party shall be liable for failure to perform due to acts of God, war, civil unrest, or other events beyond reasonable control; provided that fiduciary accounting obligations shall resume once the event terminates.

VIII. DISPUTE RESOLUTION

1. Governing Law
   This Power and all non-contractual obligations arising from it are governed by Connecticut law (“state_power_of_attorney_law”).

2. Forum Selection
   Exclusive venue lies in the Connecticut Probate Court having jurisdiction over the Principal’s domicile (“state_probate_court”).

3. Arbitration (Limited)
   By mutual written agreement after a dispute arises, the parties may submit any accounting or fee dispute to binding arbitration under the AAA Commercial Arbitration Rules, sitting in Hartford, Connecticut. All other disputes shall remain within the Probate Court’s jurisdiction.

4. Jury Waiver (Limited)
   To the extent a matter is triable in the Superior Court, each party knowingly waives trial by jury except where such waiver is prohibited by law (“limited_availability”).

5. Injunctive Relief Reservation
   The Probate Court may issue temporary, preliminary, or permanent injunctive relief to prevent breach of fiduciary duty (“fiduciary_remedy”), notwithstanding any agreement to arbitrate.

IX. GENERAL PROVISIONS

1. Amendment & Waiver
   The Principal may amend or waive any provision of this Power only by a written instrument executed with the formalities required for execution under Conn. Gen. Stat. § 1-350d.

2. Assignment & Delegation
   The Agent may not delegate authority except as expressly permitted in Section 3.3 and Conn. Gen. Stat. § 1-350i.

3. Successors & Assigns
   This Power is binding on the Principal’s heirs, devisees, personal representatives, and all Successor Agents.

4. Severability
   Invalidity of any provision shall not affect the validity of the remaining provisions, which shall be construed to effectuate the Principal’s intent.

5. Integration
   This instrument constitutes the entire agreement between the parties respecting the subject matter hereof and supersedes all prior powers of attorney except those expressly preserved herein.

6. Counterparts; Electronic Signatures
   This Power may be executed in counterparts and by electronic signature to the fullest extent permitted by Conn. Gen. Stat. § 1-350d and applicable federal law.

X. EXECUTION BLOCK

[// GUIDANCE: Connecticut requires (i) the Principal’s signature, (ii) acknowledgment before a notary public or other officer authorized to take acknowledgments, and (iii) signatures of two disinterested witnesses, at least one of whom is not an Agent. Conn. Gen. Stat. § 1-350d.]

1. Principal

[PRINCIPAL NAME], Principal

Date: _________

2. Agent Acceptance

I, [AGENT NAME], accept appointment as Agent under this Power, acknowledge my fiduciary duties under Connecticut law, and agree to act in accordance with those duties and the terms of this Power.

[AGENT NAME], Agent

Date: _________

3. Successor Agent(s) (Optional)

[FIRST SUCCESSOR AGENT NAME]

Date: _________

4. Witnesses

Witness #1: _____ Date: _
Print Name & Address: _____

Witness #2: _____ Date: _
Print Name & Address: _____

5. Acknowledgment

State of Connecticut )
County of ___ ) ss. __ [Town]

On this _ day of _, 20____, before me, the undersigned officer, personally appeared [PRINCIPAL NAME], known to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.

Notary Public / Commissioner of the Superior Court
My Commission Expires: ____

[// GUIDANCE:
1. Revocation Procedures – The Principal may revoke this Power by (a) executing a subsequent power of attorney expressly revoking this instrument, (b) delivering a written revocation to the Agent and any relevant third parties, or (c) any method permitted by Conn. Gen. Stat. § 1-350k.
2. Third-Party Reliance – Consider attaching an “Agent’s Certification” per CT-UPOAA § 1-350o to facilitate acceptance by financial institutions.
3. Recording – Not required for validity but advisable if real property transactions are anticipated.
4. Safekeeping – Store the original in a secure but accessible location; provide conformed copies to the Agent and any Successor Agent.
]