DURABLE FINANCIAL POWER OF ATTORNEY
(STATE OF IDAHO)
[// GUIDANCE: This template is drafted to comply with the Idaho Uniform Power of Attorney Act, Idaho Code § 15-12-101 et seq., and incorporates the user’s metadata selections. Bracketed items must be customized before use.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Grant of Authority & Durability
- Scope of Agent’s Powers
- Fiduciary Duties, Representations & Acceptance
- Covenants & Restrictions
- Revocation, Termination & Accountings
- Risk Allocation
- Default & Remedies
- Dispute Resolution
- General Provisions
- Execution & Acknowledgment
1. DOCUMENT HEADER
1.1 Parties.
(a) Principal: [PRINCIPAL FULL LEGAL NAME], residing at [ADDRESS] (“Principal”).
(b) Primary Agent: [AGENT FULL LEGAL NAME], residing at [ADDRESS] (“Agent”).
(c) Successor Agent(s) (if any): [NAME / PRIORITY ORDER] (“Successor Agent”).
1.2 Recitals.
A. Principal desires to appoint an agent to manage Principal’s property and financial affairs.
B. Principal intends this instrument to be a “durable power of attorney” under Idaho Code § 15-12-104, remaining effective notwithstanding Principal’s subsequent incapacity.
C. Consideration is acknowledged by mutual promises and the fiduciary undertaking of Agent.
1.3 Effective Date. This power of attorney (“POA”) becomes effective on [EFFECTIVE DATE OR SPRINGING EVENT] (“Effective Date”).
1.4 Governing Law. This POA is governed by the laws of the State of Idaho, including Idaho Code § 15-12-101 et seq. (“Governing Law”).
2. DEFINITIONS
Unless the context requires otherwise, the following terms have the meanings set forth below:
“Accounting” – A written record of all receipts, disbursements, and significant actions taken by the Agent on behalf of the Principal, prepared in accordance with Section 7.2.
“Assets Under Management” – All property, accounts, and rights subject to the Agent’s authority at the time the relevant cause of action accrues.
“Durable” – Having the effect described in Idaho Code § 15-12-104 such that the Agent’s authority is not terminated by the Principal’s incapacity.
“Fiduciary Duty” – The duties set forth in Section 5.1.
“Incapacity” – The inability of the Principal to manage property or business affairs, as determined under Idaho Code § 15-12-102(5).
“Limited Arbitration” – The arbitration procedure described in Section 10.3.
“Probate Court” – The District Court of the State of Idaho, [COUNTY] County, Probate Department, or any successor court having jurisdiction over matters arising under this POA.
“Special Authority” – Any power enumerated in Section 4.3 requiring express grant.
[// GUIDANCE: Add additional defined terms as needed; maintain alphabetical order.]
3. GRANT OF AUTHORITY & DURABILITY
3.1 Appointment. Principal hereby appoints Agent to act for Principal as attorney-in-fact with respect to all matters authorized in this POA.
3.2 Durability. Pursuant to Idaho Code § 15-12-104, Agent’s authority shall continue notwithstanding Principal’s incapacity.
3.3 Successor Agents. Each Successor Agent shall serve (a) upon written resignation, removal, death, or legal incapacity of the prior Agent, or (b) upon a written determination by a licensed physician that the prior Agent is unwilling or unable to act.
3.4 Co-Agents. If more than one Agent is serving concurrently, any [INSERT: “one may act independently” OR “unanimous action is required”] unless otherwise stated herein.
4. SCOPE OF AGENT’S POWERS
4.1 Incorporated General Authority. Subject to the limitations in this POA, Agent is granted each power enumerated in Idaho Code §§ 15-12-204 through 15-12-217, inclusive, as if fully set forth herein.
4.2 Modifications to General Authority.
(a) Excluded Powers. Agent shall NOT have authority to:
(i) create, modify, or revoke a will;
(ii) vote in public elections;
(iii) perform duties as trustee of any trust unless separately appointed.
(b) Additions. [INSERT ADDITIONAL POWERS OR “None.”]
4.3 Special Authority (Express Grants Required). By initialing the corresponding line, Principal expressly grants Agent the following powers:
| Initial | Special Authority | Statutory Reference |
|---|---|---|
| ___ | Make or revoke gifts up to the federal annual exclusion | I.C. § 15-12-217 |
| ___ | Change beneficiary designations on life insurance, retirement plans, or payable-on-death accounts | I.C. § 15-12-217(2) |
| ___ | Create, amend, or revoke a revocable trust | I.C. § 15-12-217(1) |
| ___ | Disclaim property interests | I.C. § 15-12-217(5) |
| ___ | Access and manage digital assets | I.C. § 15-12-204 & Idaho Fiduciary Access to Digital Assets Act |
[// GUIDANCE: The principal must place initials to activate each Special Authority.]
4.4 Delegation. Agent may delegate authority to third parties only as permitted under Idaho Code § 15-12-115 and remains liable for due care in selection and supervision.
5. FIDUCIARY DUTIES, REPRESENTATIONS & ACCEPTANCE
5.1 Agent’s Fiduciary Duties. Agent shall:
(a) act in good faith, loyally for the benefit of Principal, and within the scope of authority;
(b) avoid conflicts of interest;
(c) keep a record of all transactions;
(d) act with care, competence, and diligence ordinarily exercised by agents in similar circumstances;
(e) cooperate with persons who have authority to make health-care decisions for Principal; and
(f) preserve the Principal’s estate plan to the extent the Agent knows of such plan and preservation is consistent with Principal’s best interests.
5.2 Indemnification of Principal. Agent shall indemnify and hold Principal harmless from losses caused by Agent’s breach of Fiduciary Duty, bad faith, gross negligence, or willful misconduct.
5.3 Indemnification of Agent. Principal shall indemnify Agent from any third-party claims arising out of actions taken in good faith and within the scope of authority, provided such indemnity shall not exceed the then-existing Assets Under Management and shall not apply to breaches described in Section 5.2.
5.4 Agent’s Acceptance. Agent accepts the appointment and the Fiduciary Duties by:
(a) signing the acknowledgment in Section 12, or
(b) otherwise exercising authority under this POA.
5.5 Insurance. Agent may, at Principal’s expense, obtain fiduciary liability insurance in commercially reasonable amounts.
6. COVENANTS & RESTRICTIONS
6.1 Record-Keeping. Agent shall maintain contemporaneous accounting records and supporting documentation for no less than five (5) years after termination of this POA.
6.2 Information Rights of Interested Persons. Upon written request by Principal, a court-appointed conservator, or any person named in Section 1.1, Agent shall provide an Accounting within thirty (30) days.
6.3 Notice of Material Events. Agent shall give written notice to Principal (or, if incapacitated, to Successor Agent) of:
(a) initiation of any litigation involving Principal’s assets;
(b) any uninsured loss exceeding [$ AMOUNT]; or
(c) the Agent’s resignation, not less than fifteen (15) days prior to effective date.
6.4 Compensation & Reimbursement. [SELECT ONE]
(a) ___ The Agent shall serve without compensation but with reimbursement of reasonable expenses.
(b) ___ The Agent shall be compensated at [$ RATE / FORMULA] plus reimbursement of reasonable expenses.
7. REVOCATION, TERMINATION & ACCOUNTINGS
7.1 Revocation by Principal. Principal may revoke this POA at any time by (a) delivering a written, dated, and signed revocation to Agent and to any third party known to be relying on this POA, and (b) recording such revocation where this POA has been recorded.
7.2 Automatic Termination. This POA terminates:
(a) upon Principal’s death;
(b) upon complete revocation under Section 7.1;
(c) upon divorce or annulment of marriage between Principal and Agent, unless expressly preserved herein; or
(d) as otherwise provided by Governing Law.
7.3 Accountings Upon Termination. Within sixty (60) days after termination, Agent shall deliver a final Accounting to Principal’s personal representative or as ordered by the Probate Court.
8. RISK ALLOCATION
8.1 Limitation of Liability. Except for breaches described in Section 5.2, the aggregate liability of Agent to Principal and Principal’s estate shall not exceed the Assets Under Management at the time the cause of action accrues.
8.2 Force Majeure. Agent is not liable for failure to perform caused by events beyond reasonable control, including acts of God, war, terrorism, cyber-attacks, or governmental actions.
9. DEFAULT & REMEDIES
9.1 Events of Default. Any of the following constitute default:
(a) material breach of Fiduciary Duty;
(b) misappropriation or commingling of assets;
(c) failure to provide a timely Accounting;
(d) felony conviction involving dishonesty.
9.2 Notice & Cure. An Interested Person may provide written notice of default to Agent. Agent shall have fifteen (15) days to cure the default unless the default is incapable of cure or constitutes misappropriation.
9.3 Remedies. Upon uncured default, any Interested Person may petition the Probate Court for:
(a) suspension or removal of Agent;
(b) injunctive relief to protect assets;
(c) surcharge, damages, and restitution;
(d) recovery of reasonable attorney fees and costs.
10. DISPUTE RESOLUTION
10.1 Governing Law. This POA shall be construed in accordance with the Governing Law.
10.2 Forum Selection. The parties submit to exclusive jurisdiction of the Probate Court for all proceedings not subject to Limited Arbitration or mandatory statutory venue.
10.3 Limited Arbitration.
(a) Scope. Monetary disputes not exceeding [$250,000] and not seeking injunctive relief shall be submitted to binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules.
(b) Location. [CITY], Idaho.
(c) Fees. The prevailing party is entitled to recover arbitration fees and costs.
10.4 Jury Waiver. To the extent permitted by Governing Law, the parties waive the right to a jury trial in any court proceeding arising under this POA. If such waiver is unenforceable, the dispute shall be tried to the court without a jury.
10.5 Preservation of Injunctive Relief. Nothing in this Article limits the Probate Court’s power to issue equitable or fiduciary remedies.
11. GENERAL PROVISIONS
11.1 Amendment & Waiver. This POA may be amended only by a writing signed by Principal and notarized. No waiver of any provision shall be effective unless in writing and shall apply only to the specific instance waived.
11.2 Assignment. Agent may not assign rights or delegate duties except as expressly permitted in Section 4.4.
11.3 Successors & Assigns. This POA is binding upon and inures to the benefit of the Principal, Agent, and their respective heirs, representatives, successors, and permitted assigns.
11.4 Severability. If any provision is held invalid, the remaining provisions shall remain in full force to the maximum extent permitted.
11.5 Integration. This instrument constitutes the entire POA and supersedes all prior powers of attorney concerning the subject matter, except those expressly preserved.
11.6 Counterparts & Electronic Signatures. This POA may be executed in counterparts, each of which is deemed an original. Signatures transmitted by facsimile, PDF, or electronic means are deemed original for all purposes.
11.7 Recording. [OPTIONAL] This POA may be recorded with the [COUNTY] County Recorder to facilitate acceptance by third parties.
12. EXECUTION & ACKNOWLEDGMENT
12.1 Signature of Principal.
[PRINCIPAL NAME] – Principal
Date: ____
State of Idaho )
County of ____ ) ss.
On this _ day of _, 20__, before me, the undersigned, a Notary Public in and for said state, personally appeared [PRINCIPAL NAME], known to me (or proven on the basis of satisfactory evidence) to be the person whose name is subscribed to this instrument, and acknowledged that he/she executed the same for the purposes therein contained.
(Notary Seal)
Notary Public
My Commission Expires: ____
12.2 Agent’s Acknowledgment & Acceptance.
I, [AGENT NAME], have read the foregoing Durable Financial Power of Attorney. I understand my Fiduciary Duties under Idaho law and agree to act in accordance with the terms herein.
[AGENT NAME] – Agent
Date: ____
12.3 Successor Agent(s)’ Acknowledgment.
[// GUIDANCE: Replicate the acknowledgment block for each Successor Agent.]
OPTIONAL WITNESS ATTESTATION
[// GUIDANCE: Idaho does not mandate witnesses, but some institutions prefer them.]
The undersigned witnesses declare that the Principal signatory is personally known to us, appeared to be of sound mind, and signed or acknowledged this POA in our presence.
Witness 1: _____ Date: __
Witness 2: ____ Date: _____
[// GUIDANCE: Before use, counsel should confirm citation accuracy, complete all placeholders, and consider recording the POA where significant real property is involved.]