IMPORTANT DISCLAIMER
This template is provided for educational and informational purposes only and does not constitute legal advice. Use of this form does not create an attorney–client relationship with the drafter or with OpenAI. Georgia law—and the Georgia Uniform Power of Attorney Act, O.C.G.A. § 10-6B-1 et seq.—imposes strict execution, notice, and fiduciary requirements. Practitioners must review, revise, and tailor this document to the specific facts and needs of each client and ensure compliance with all current statutes, regulations, and local procedural rules before use.
DURABLE FINANCIAL POWER OF ATTORNEY
(State of Georgia)
[// GUIDANCE: Insert firm letterhead or caption if desired.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
3.1 Grant of Authority
3.2 Scope of Powers
3.3 Incorporation by Reference of Statutory Powers
3.4 Effective Date; Durability - Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block & Certifications
1. DOCUMENT HEADER
1.1 Title. This Durable Financial Power of Attorney (this “Instrument”) is executed pursuant to the Georgia Uniform Power of Attorney Act (O.C.G.A. § 10-6B-1 et seq.).
1.2 Parties.
(a) Principal: [PRINCIPAL FULL LEGAL NAME], residing at [ADDRESS].
(b) Agent: [AGENT FULL LEGAL NAME], residing at [ADDRESS].
[Optional] Successor Agent(s): [NAMES & ADDRESSES].
1.3 Recitals.
A. Principal desires to delegate authority over the Principal’s property and financial affairs.
B. Agent is willing to serve and acknowledges the fiduciary duties imposed by Georgia law.
C. Principal intends this Instrument to be durable and to remain in effect notwithstanding Principal’s subsequent incapacity.
1.4 Consideration. Mutual promises and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, support this Instrument.
1.5 Effective Date. [EITHER: “This Instrument is effective immediately upon execution.” OR “This Instrument becomes effective upon the determination of my incapacity as defined herein.”]
1.6 Governing Law & Venue. This Instrument is governed by the “State Power of Attorney Law” of Georgia; exclusive venue for probate‐related matters lies in the [COUNTY] Probate Court of Georgia.
2. DEFINITIONS
For purposes of this Instrument, capitalized terms have the meanings set forth below:
“Act” means the Georgia Uniform Power of Attorney Act, O.C.G.A. § 10-6B-1 et seq.
“Assets Under Management” means all property subject to Agent’s authority at the relevant time.
“Durable” has the meaning assigned in O.C.G.A. § 10-6B-4.
“Incapacity” means inability to manage property or business affairs as certified in writing by two physicians or by an order of a court of competent jurisdiction.
“Limited Arbitration” has the meaning in Section 8.3.
“State Probate Court” means the Probate Court of the Georgia county where this Instrument is filed or where the Principal resides at the time of a dispute.
[// GUIDANCE: Add, delete, or modify definitions to fit client circumstances.]
3. OPERATIVE PROVISIONS
3.1 Grant of Authority
Principal hereby appoints Agent as Principal’s true and lawful attorney-in-fact to act for Principal and in Principal’s name, place, and stead, to the fullest extent permitted by the Act and this Instrument.
3.2 Scope of Powers
Subject to Section 3.3 and the exclusions in Section 5, Agent may exercise authority over:
a. Real property transactions;
b. Tangible personal property;
c. Banking and financial institution matters;
d. Operation of any business or entity interests;
e. Insurance and annuity transactions;
f. Estate, trust, and beneficiary matters;
g. Personal and family maintenance;
h. Tax matters; and
i. All other lawful matters affecting Principal’s property.
[// GUIDANCE: Delete or limit any power the Principal does not wish to confer.]
3.3 Incorporation by Reference of Statutory Powers
The powers enumerated in O.C.G.A. § 10-6B-40 through § 10-6B-56 are incorporated by reference as though fully set forth herein. To the extent a statutory power exceeds or conflicts with the express provisions of this Instrument, the express provisions control.
3.4 Effective Date; Durability
This Instrument is [IMMEDIATELY EFFECTIVE / SPRINGING UPON INCAPACITY] and shall not be affected by Principal’s later incapacity or mental incompetence.
4. REPRESENTATIONS & WARRANTIES
4.1 Principal’s Capacity. Principal represents that Principal is of sound mind and is executing this Instrument voluntarily.
4.2 Agent’s Acceptance. Agent accepts the appointment, affirms that Agent is eligible to serve under the Act, and acknowledges fiduciary duties including the duty of loyalty, duty of care, duty to keep records, and duty to preserve Estate Plan.
4.3 Survival. The representations and warranties in this Section survive revocation or termination of this Instrument to the extent necessary to enforce rights that accrued prior to such revocation or termination.
5. COVENANTS & RESTRICTIONS
5.1 Affirmative Covenants of Agent. Agent shall:
a. Act in good faith and within the scope of authority granted;
b. Keep detailed records of all receipts, disbursements, and transactions;
c. Provide accountings to Principal or to Principal’s guardian or personal representative upon written request within thirty (30) days;
d. Comply with all applicable federal and state laws, including tax filings.
5.2 Negative Covenants. Without prior written consent of Principal (or court approval if Principal is incapacitated), Agent shall not:
a. Create or change a beneficiary designation in favor of Agent except as expressly authorized;
b. Make gifts exceeding the annual federal gift-tax exclusion to any person other than per Section 5.3;
c. Self-deal except for reimbursement of reasonable expenses.
5.3 Gifting Authority. Agent may make gifts not exceeding the greater of (i) the annual exclusion amount under 26 U.S.C. § 2503(b) or (ii) [$______] per donee per calendar year, provided such gifts are consistent with Principal’s history of gifting.
5.4 Notice Obligations. Agent must notify Principal in writing within ten (10) days of any change of address or telephone number. If the Instrument is springing, Agent must also provide the written incapacity certification to all relevant third parties before acting.
5.5 Revocation by Principal. Principal may revoke this Instrument by (i) executing a subsequent written revocation, or (ii) executing a later-dated power of attorney that expressly revokes this Instrument, and notifying Agent in writing. Revocation is effective upon delivery to Agent.
6. DEFAULT & REMEDIES
6.1 Events of Default. Any of the following constitute a default:
a. Agent’s breach of fiduciary duty;
b. Failure to provide accounting within the period stated in Section 5.1(c);
c. Conviction of Agent of a felony involving dishonesty;
d. Incapacity or death of Agent without a qualified Successor Agent.
6.2 Cure Period. Except for willful misconduct, the Agent has ten (10) business days after receipt of written notice of default to cure.
6.3 Remedies. Upon default, any interested person may petition the State Probate Court for:
a. Removal of Agent and appointment of Successor Agent;
b. Compensatory damages, surcharge, or disgorgement;
c. Injunctive relief to prevent dissipation of assets;
d. Attorneys’ fees and costs.
7. RISK ALLOCATION
7.1 Indemnification of Principal. Agent shall indemnify and hold harmless Principal from and against all losses, claims, and expenses arising out of Agent’s breach of fiduciary duty or willful misconduct.
7.2 Limitation of Liability. Absent willful misconduct or gross negligence, Agent’s liability to Principal and Principal’s successors shall not exceed the Assets Under Management at the time the act or omission occurred.
7.3 Insurance. [OPTIONAL] Agent shall maintain an errors & omissions or fiduciary liability policy with limits of not less than [$____] and shall name Principal as an additional insured.
7.4 Force Majeure. Agent is not liable for failure to act during events beyond Agent’s reasonable control, including natural disasters, wars, or government actions.
8. DISPUTE RESOLUTION
8.1 Governing Law. This Instrument is governed by the laws of the State of Georgia without regard to conflict-of-laws principles.
8.2 Forum Selection. All probate or fiduciary matters shall be filed exclusively in the State Probate Court identified in Section 1.6.
8.3 Limited Arbitration. Any dispute between Principal and Agent not subject to the exclusive jurisdiction of the Probate Court—and not involving injunctive or provisional relief—shall be submitted to confidential, binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules then in effect (“Limited Arbitration”). Judgment on the award may be entered in any court of competent jurisdiction.
8.4 Jury Waiver. To the extent permitted by Georgia law and subject to Section 8.2, the parties knowingly and voluntarily waive the right to trial by jury in any court proceeding arising out of this Instrument.
8.5 Injunctive Relief. Nothing in this Section limits the Probate Court’s power to grant temporary or permanent injunctive relief to protect the Principal’s property or enforce fiduciary obligations.
9. GENERAL PROVISIONS
9.1 Amendments & Waivers. This Instrument may be amended only by a written instrument signed by Principal (if competent) and notarized. No waiver of any provision shall be effective unless in writing.
9.2 Assignment & Delegation. Agent may not delegate authority or assign duties except as expressly permitted by O.C.G.A. § 10-6B-20 or with prior written consent of Principal.
9.3 Successors & Assigns. This Instrument binds and benefits Principal, Agent, and their respective heirs, successors, and assigns.
9.4 Severability. If any provision is held invalid or unenforceable, the remainder of this Instrument shall remain in full force and the invalid provision shall be deemed reformed to the minimum extent necessary to effectuate the original intent.
9.5 Integration. This Instrument constitutes the entire understanding between the parties with respect to the subject matter and supersedes all prior powers of attorney except as expressly preserved herein.
9.6 Counterparts; Electronic Signatures. This Instrument may be executed in counterparts, each of which is deemed an original, and signatures transmitted electronically (including by DocuSign or PDF) shall be deemed original for all purposes.
10. EXECUTION BLOCK & CERTIFICATIONS
IN WITNESS WHEREOF, the Principal has executed this Durable Financial Power of Attorney as of the Effective Date set forth below.
Date: __, 20__
[PRINCIPAL NAME], Principal
State of Georgia
County of ________
On this _ day of _, 20____, before me, the undersigned Notary Public, personally appeared [PRINCIPAL NAME], who is personally known to me or has produced satisfactory evidence of identification, and who executed the foregoing Instrument freely and voluntarily.
Notary Public
My Commission Expires: _____
Witness Attestation (required by O.C.G.A. § 10-6B-5)
I, the undersigned witness, affirm that the Principal signed this Instrument in my presence (or acknowledged the Principal’s signature) and that I am not named as Agent or Successor Agent herein.
[WITNESS NAME]
Address: _______
[// GUIDANCE:
1. Provide additional lines if more than one witness is desired.
2. If a Successor Agent is named, insert an “Acceptance of Appointment” signature block below.]
Acceptance of Appointment by Agent
I, [AGENT NAME], accept the foregoing appointment as Agent, acknowledge my fiduciary duties under Georgia law, and submit to the jurisdiction of the State Probate Court of [COUNTY], Georgia.
[AGENT NAME], Agent
Date: __, 20__
[Add similar acceptance blocks for any Successor Agent.]
[// GUIDANCE:
• File or record this Instrument as required by any third party (e.g., financial institutions may request originals or certified copies).
• Consider attaching an Affidavit of Agent under O.C.G.A. § 10-6B-17 to facilitate transactions.
• Retain executed originals in a secure but accessible location and provide copies to the Agent, Successor Agent(s), and relevant advisors.]