DURABLE FINANCIAL POWER OF ATTORNEY
(State of Kansas)
[// GUIDANCE: This is a court-ready template drafted for use by Kansas-licensed practitioners. Customize all bracketed items, review for client-specific facts, and confirm current statutory requirements before execution.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
3.1 Appointment and Grant of Authority
3.2 Scope of Agent Powers
3.3 Durability; Effectiveness; Termination
3.4 Acceptance and Acknowledgment by Agent - Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block
1. DOCUMENT HEADER
This Durable Financial Power of Attorney (this “Power of Attorney”) is made effective as of [EFFECTIVE DATE] (the “Effective Date”) by and between:
• [PRINCIPAL NAME], residing at [PRINCIPAL ADDRESS] (“Principal”); and
• [AGENT NAME], residing at [AGENT ADDRESS] (“Agent” or “Attorney-in-Fact”).
Recitals
A. Principal desires to designate Agent to act on Principal’s behalf with respect to financial matters, in accordance with Kansas law governing powers of attorney.
B. Principal intends that this Power of Attorney be durable and remain in effect notwithstanding Principal’s subsequent incapacity or disability.
2. DEFINITIONS
“Assets Under Management” means the aggregate fair-market value of all assets over which Agent then exercises authority pursuant to Section 3.2.
“Durable” or “Durability” refers to continuation of Agent’s authority notwithstanding Principal’s incapacity.
“Incapacity” means the inability of the Principal to manage property or business affairs, as determined under applicable Kansas law.
“Record” means information that is inscribed on a tangible medium or stored in an electronic or other medium and is retrievable in perceivable form.
“Third Party” means any person or entity other than Principal and Agent that reasonably relies on this Power of Attorney.
[// GUIDANCE: Add additional defined terms as needed for special powers (e.g., digital assets, trusts, LLC interests).]
3. OPERATIVE PROVISIONS
3.1 Appointment and Grant of Authority
(a) 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 extent authorized herein.
(b) Co-Agents or Successor Agents. If [CO-AGENT/SUCCESSOR AGENT DETAILS], each such individual shall have authority only as expressly provided in Appendix A.
[// GUIDANCE: Insert co-agent “joint,” “several,” or “joint and several” authority language if applicable.]
3.2 Scope of Agent Powers
Subject to the limitations in Section 5, Agent may exercise the following powers (collectively, the “Powers”):
- Real Property
- Tangible Personal Property
- Stocks and Bonds
- Banking and Other Financial Institutions
- Business Operations/Entity Transactions
- Insurance and Annuities
- Estates, Trusts, and Beneficiary Rights
- Claims and Litigation
- Personal and Family Maintenance
- Government Benefits
- Retirement Plans
- Taxes
- Digital Assets
- [OTHER POWER CATEGORIES AS ELECTED]
[PLACEHOLDER: Check the box or initial next to each numbered power elected by Principal. Unelected powers are withheld.]
3.3 Durability; Effectiveness; Termination
(a) Durability. Pursuant to Kansas law, this Power of Attorney is durable and shall not be affected by Principal’s subsequent incapacity.
(b) Effective Date. This Power of Attorney becomes effective (choose one):
☐ immediately upon execution;
☐ upon the determination of Incapacity;
☐ on [SPECIFIED DATE/EVENT].
(c) Revocation by Principal. Principal may revoke this Power of Attorney at any time by delivering a signed, written instrument of revocation to Agent and to any Third Party known to be relying hereon.
(d) Automatic Termination. This Power of Attorney terminates upon: (i) Principal’s death; (ii) complete revocation per subsection (c); (iii) Agent’s resignation, death, or adjudicated incapacity without a qualified Successor Agent; or (iv) entry of judicial order terminating authority.
3.4 Acceptance and Acknowledgment by Agent
Agent accepts appointment under this Power of Attorney and agrees to act in accordance with the fiduciary duties set forth in Section 5 and applicable Kansas law.
4. REPRESENTATIONS & WARRANTIES
4.1 By Principal
(a) Principal is of sound mind and is executing this Power of Attorney voluntarily.
(b) No other power of attorney inconsistent with this document is in force, or if one exists, it is hereby revoked.
4.2 By Agent
Agent represents and warrants that:
(a) Agent is not disqualified from serving due to felony conviction or other legal disability;
(b) Agent has and shall maintain sufficient financial sophistication to perform the Powers granted; and
(c) Agent will promptly disclose to Principal any conflict of interest that may materially impair Agent’s ability to act in Principal’s best interest.
The representations and warranties in this Section 4 shall survive termination of this Power of Attorney to the fullest extent allowed by law.
5. COVENANTS & RESTRICTIONS
5.1 Fiduciary Standard. Agent shall:
(a) act loyally for the Principal’s benefit;
(b) avoid self-dealing, conflicts of interest, or commingling of funds except as expressly authorized herein;
(c) act with reasonable care, competence, and diligence;
(d) keep a complete, contemporaneous record of all receipts, disbursements, and actions taken; and
(e) provide an accounting to Principal (or Principal’s legal representative) at least annually or upon written request.
5.2 Gifting & Self-Dealing. Agent may make gifts of Principal’s property only to the extent:
(a) expressly authorized in Appendix B; and
(b) consistent with Principal’s known estate plan and best interests.
5.3 Delegation. Agent may delegate authority to professionals (e.g., attorneys, accountants, investment advisors) provided Agent exercises reasonable care in selecting and monitoring delegates.
5.4 Notice Obligations. Agent shall provide written notice to [NOTICE RECIPIENT] within ten (10) days of:
(a) any change of Agent’s address;
(b) any event triggering termination under Section 3.3(d); or
(c) receipt of written allegation of breach of fiduciary duty.
6. DEFAULT & REMEDIES
6.1 Events of Default. Each of the following constitutes an “Event of Default”:
(a) Agent’s breach of fiduciary duty;
(b) failure to provide requested accounting within thirty (30) days;
(c) misappropriation, conversion, or commingling of Principal’s property; or
(d) false certification or representation under this Power of Attorney.
6.2 Cure Period. For Events of Default under subsections (a) or (b), Agent shall have ten (10) business days after receipt of written notice to cure. No cure period applies to subsections (c) or (d).
6.3 Remedies. Upon an uncured Event of Default, Principal (or Principal’s legal representative) may:
(a) revoke this Power of Attorney;
(b) demand full accounting and restitution;
(c) seek injunctive relief, specific performance, or appointment of a guardian/conservator;
(d) recover reasonable attorneys’ fees and costs incurred in enforcement.
7. RISK ALLOCATION
7.1 Indemnification of Agent. Principal shall indemnify and hold Agent harmless from all claims, liabilities, and expenses arising from lawful acts undertaken in good faith under this Power of Attorney, except to the extent resulting from Agent’s gross negligence, willful misconduct, or breach of fiduciary duty.
7.2 Limitation of Agent Liability. Agent’s aggregate monetary liability to Principal for ordinary negligence shall be capped at the lesser of (i) the diminution in value of Assets Under Management directly attributable to such negligence or (ii) the sum of Assets Under Management at the time the negligence occurred.
7.3 Insurance. Agent is authorized to obtain and maintain liability insurance covering acts or omissions under this Power of Attorney, the premiums for which may be paid from Principal’s assets.
7.4 Force Majeure. Agent shall not be liable for failure to perform if performance is rendered impossible by events beyond Agent’s reasonable control, including but not limited to natural disasters, war, acts of terrorism, or governmental action.
8. DISPUTE RESOLUTION
8.1 Governing Law. This Power of Attorney and all acts of the Agent hereunder are governed by the laws of the State of Kansas, without regard to conflict-of-laws principles.
8.2 Forum Selection. The parties designate the probate division of the [COUNTY] District Court of Kansas as the exclusive forum for all proceedings arising out of or relating to this Power of Attorney, except as provided in Section 8.3.
8.3 Limited Arbitration. Monetary claims not exceeding $[ARBITRATION LIMIT] shall be resolved by binding arbitration administered by [ARBITRATION ADMINISTRATOR] under its expedited rules. Injunctive or fiduciary relief claims are expressly excluded and shall be filed in the forum designated in Section 8.2.
8.4 Jury Waiver. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES KNOWINGLY AND VOLUNTARILY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING ARISING FROM THIS POWER OF ATTORNEY.
8.5 Preservation of Injunctive Relief. Nothing herein limits the court’s power to grant temporary, preliminary, or permanent injunctive relief to protect Principal’s assets or enforce Agent’s fiduciary duties.
9. GENERAL PROVISIONS
9.1 Amendments; Waiver. This Power of Attorney may be amended only by a written instrument signed by Principal (or a court of competent jurisdiction) and acknowledged before a notary public. No waiver of any provision is effective unless in writing and signed by the waiving party.
9.2 Assignment; Delegation. Agent may not assign rights or delegate duties except as expressly permitted in Section 5.3 without prior written consent of Principal.
9.3 Successors and Assigns. This Power of Attorney is binding upon and inures to the benefit of the parties and their respective heirs, executors, administrators, successors, and permitted assigns.
9.4 Severability. If any provision is held unenforceable, the remaining provisions shall be given full force and effect to the maximum extent possible.
9.5 Entire Agreement. This Power of Attorney constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous understandings.
9.6 Counterparts; Electronic Signatures. This Power of Attorney may be executed in counterparts, each of which is deemed an original, and all of which together constitute one instrument. Signatures delivered via facsimile, PDF, or compliant e-signature platform are effective for all purposes.
10. EXECUTION BLOCK
IN WITNESS WHEREOF, the undersigned Principal and Agent have executed this Durable Financial Power of Attorney as of the Effective Date.
10.1 Principal
[PRINCIPAL NAME], Principal
STATE OF KANSAS )
COUNTY OF ____) ss:
On this _ day of _, 20__, before me, the undersigned Notary Public, 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/they) executed the same for the purposes therein contained.
Notary Public
My Commission Expires: ____
10.2 Agent Acknowledgment
I, [AGENT NAME], accept appointment as Agent and agree to act in accordance with the terms of this Power of Attorney and Kansas law.
[AGENT NAME], Agent
Date: ____
APPENDICES
Appendix A – Co-Agent / Successor Agent Schedule
[// GUIDANCE: List ordering of authority, whether joint or several, and any special limitations.]
Appendix B – Gift Authority Authorization
[// GUIDANCE: Insert specific annual limits, permissible donees, educational/medical exclusions, and any tax planning parameters.]
[// GUIDANCE: Filing & Notice. While Kansas does not require recording, best practice is to provide certified copies to major financial institutions and record with Register of Deeds if real property transactions are anticipated. Retain proof of delivery of any revocation instrument.]
END OF DOCUMENT