LOUISIANA DURABLE (FINANCIAL) POWER OF ATTORNEY

[Comprehensive Form – Court-Ready Draft]

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Grant of Authority
4. Fiduciary Duties & Standards of Care
5. Agent Acceptance; Representations & Warranties
6. Limitations, Conditions, and Reserved Powers
7. Compensation; Reimbursement
8. Records, Accounting, and Reporting
9. Default; Notice; Remedies
10. Risk Allocation
11. Dispute Resolution
12. Revocation; Termination
13. General Provisions
14. Execution Block & Notarial Acknowledgment

1. DOCUMENT HEADER

1.1 Parties.
This Durable (Financial) Power of Attorney (this “Instrument”) is made effective as of [EFFECTIVE DATE] (the “Effective Date”) by [PRINCIPAL NAME], [marital status], residing at [PRINCIPAL ADDRESS] (the “Principal”), in favor of [AGENT NAME], [relationship], residing at [AGENT ADDRESS] (the “Agent”).

1.2 Recitals.
A. Principal desires to designate Agent to manage Principal’s property and financial affairs, including during any period of incapacity.
B. Principal intends this Instrument to remain effective notwithstanding Principal’s subsequent incapacity or disability.
C. This Instrument is executed in compliance with the laws of the State of Louisiana governing mandates and powers of attorney (collectively, the “Governing Law”).

1.3 Durability Statement.
This Power of Attorney shall not be affected by Principal’s subsequent incapacity or disability and shall remain in full force and effect until revoked or terminated pursuant to Section 12.

2. DEFINITIONS

Unless the context requires otherwise, capitalized terms have the meanings set forth below. Defined terms appear alphabetically for ease of reference.

“Accounting Period” – Each twelve-month period ending on the anniversary of the Effective Date, or such shorter period ending upon termination or revocation.

“Agent” – The individual appointed in Section 1.1, together with any Successor Agent acting pursuant to Section 3.9.

“Assets Under Management” – All property, funds, securities, contract rights, and other interests of the Principal that are subject to the Agent’s authority at any given time.

“Durable” – Continuing in effect notwithstanding the Principal’s incapacity or disability.

“Governing Law” – The laws of the State of Louisiana applicable to powers of attorney, mandates, and fiduciary relationships, without regard to conflict-of-law principles.

“Incapacity” – A judicial determination of interdiction, or a written opinion of two licensed physicians that the Principal is unable to manage property or financial affairs.

“Instrument” – This Louisiana Durable (Financial) Power of Attorney, including all exhibits, schedules, and notarized acknowledgments.

“Successor Agent” – Any person designated in Section 3.9 who may act if the original Agent resigns, dies, becomes incapacitated, or is otherwise unable or unwilling to serve.

[// GUIDANCE: Add or remove defined terms as needed when customizing.]

3. GRANT OF AUTHORITY

3.1 General Authority.
Principal hereby grants to Agent full power and authority to act for Principal with respect to Principal’s property and financial interests, subject to the limitations set forth herein.

3.2 Enumerated Powers.
Agent may, without limitation, and to the fullest extent permitted by Governing Law:

(a) Banking – Open, close, or modify deposit, checking, savings, money-market, and similar accounts; draw, endorse, or deposit funds; obtain treasury and cash management services.

(b) Real Property – Buy, sell, lease, exchange, grant servitudes, or otherwise manage real estate; execute, deliver, and record instruments affecting title; satisfy mortgages.

(c) Personal Property – Buy, sell, pledge, or otherwise deal with tangible and intangible personal property, including vehicles, equipment, securities, and digital assets.

(d) Business Interests – Vote stock, exercise partnership or LLC rights, enter buy-sell agreements, manage or dissolve business entities, and collect distributions.

(e) Taxes – Prepare, sign, and file federal, state, and local tax returns; receive confidential information; negotiate and settle tax liabilities.

(f) Government Benefits – Prepare and prosecute claims for Social Security, Medicare, veterans’ benefits, and similar programs; receive payments.

(g) Insurance & Annuities – Purchase, surrender, assign, or manage policies; file claims and receive proceeds.

(h) Retirement Accounts – Contribute to, withdraw from, rollover, or recharacterize IRAs, 401(k)s, pensions, and similar plans; select investment options.

(i) Gifts & Gratuitous Transfers – Make gifts not exceeding [ANNUAL GIFT LIMIT] per beneficiary per calendar year, provided such gifts are consistent with Principal’s established pattern and do not compromise Principal’s support.

(j) Legal & Litigation Matters – Initiate, defend, settle, or arbitrate claims relating to Principal’s property or financial affairs.

(k) Safe Deposit Boxes – Access, open, and remove contents; execute rental or surrender agreements.

(l) Digital Assets – Access, manage, and transfer digital assets and electronic communications to the extent permitted by applicable law.

(m) Delegation – Delegate discretionary authority to professionals (e.g., investment managers) while retaining overall responsibility.

3.3 Hot Powers Requiring Express Authorization.
With Principal’s initials next to each subsection, Agent may:

• _ Create, amend, or revoke trusts affecting Principal’s property.
• _ Make or change beneficiary designations.
• ____ Disclaim or renounce property interests.

[// GUIDANCE: Insert additional powers as needed; blank lines may be lined out if unused.]

3.4 Restrictions.
Agent shall not:
(a) Make or amend a will on Principal’s behalf;
(b) Perform acts that constitute a conflict of interest not expressly authorized herein;
(c) Make gifts to self except reasonable compensation or reimbursement per Section 7.

3.5 Durability Confirmation.
All authority granted herein is intended to be durable and shall survive Principal’s incapacity.

3.6 Effective Time.
This Instrument is [choose one]:
☐ Immediately effective upon execution;
☐ Springing, and becomes effective only upon a written determination of Incapacity.

3.7 Multiple Agents.
[Select one]
☐ Sole Agent;
☐ Co-Agents acting jointly;
☐ Co-Agents acting independently.

3.8 Nomination of Curator.
If a court deems the appointment of a curator necessary, Principal nominates Agent as curator and [SUCCESSOR AGENT NAME] as successor curator.

3.9 Successor Agents.
If the Agent cannot serve, [SUCCESSOR AGENT NAME] shall serve as first successor, followed by [SECOND SUCCESSOR NAME]. Successor Agents shall have the same powers and duties, subject to any specific limitations stated herein.

4. FIDUCIARY DUTIES & STANDARDS OF CARE

4.1 Duties Owed.
Agent is a fiduciary and shall:
(a) Act loyally for the Principal’s exclusive benefit;
(b) Act in good faith and within the scope of authority;
(c) Avoid self-dealing unless expressly authorized;
(d) Keep separate and distinct records and assets;
(e) Exercise reasonable care, competence, and diligence.

4.2 Prudent Investor Rule.
When investing or managing Assets Under Management, Agent shall apply a prudent investor standard, taking into account Principal’s financial objectives and risk tolerance.

4.3 Delegation to Professionals.
Agent may employ attorneys, accountants, investment advisors, and other professionals and shall not be liable for their acts or omissions if selected with reasonable care.

5. AGENT ACCEPTANCE; REPRESENTATIONS & WARRANTIES

By signing in the Execution Block, Agent:

(a) Accepts the appointment and acknowledges fiduciary duties;
(b) Represents that Agent is not currently suspended or barred from the practice of any profession relevant to duties hereunder;
(c) Warrants possessing the capacity and willingness to serve;
(d) Consents to personal jurisdiction of Louisiana state probate courts for matters arising under this Instrument.

6. LIMITATIONS, CONDITIONS, AND RESERVED POWERS

6.1 Principal’s Reserved Powers.
Principal retains the right to:
(a) Direct Agent regarding any act;
(b) Revoke or amend this Instrument pursuant to Section 12;
(c) Deal directly with any property or account.

6.2 Third-Party Reliance.
Third parties may rely on the authority of the Agent without further inquiry. A certified copy or affidavit of Agent concerning any factual matter shall be conclusive in favor of such third party.

6.3 Nominee Title.
Agent may take title to property as “[AGENT NAME], Agent for [PRINCIPAL NAME],” or similar designation.

7. COMPENSATION; REIMBURSEMENT

(a) Agent shall be entitled to [insert formula / hourly rate / statutory fee] for services rendered.
(b) Agent shall be reimbursed for reasonable expenses incurred in good faith.
(c) Compensation and reimbursements are subordinate to Principal’s personal maintenance and support needs.

8. RECORDS, ACCOUNTING, AND REPORTING

8.1 Recordkeeping.
Agent shall keep contemporaneous records of all receipts, disbursements, and transactions.

8.2 Report to Principal or Legal Representative.
Upon written request by Principal, Successor Agent, court, or court-appointed curator, Agent shall provide an accounting within thirty (30) days.

8.3 Annual Accounting.
Within sixty (60) days after each Accounting Period, Agent shall deliver a written accounting to [ACCOUNTING RECIPIENT] unless waived in writing by Principal.

9. DEFAULT; NOTICE; REMEDIES

9.1 Events of Default.
The following constitute defaults:
(a) Breach of fiduciary duty;
(b) Failure to provide required accounting;
(c) Misappropriation or self-dealing not authorized herein;
(d) Conviction of a felony or offense involving dishonesty.

9.2 Notice & Cure.
Before seeking judicial relief, an interested party shall provide written notice specifying the default and allow a fifteen (15) day cure period, except where immediate relief is necessary to prevent irreparable harm.

9.3 Remedies.
(a) Suspension or removal of Agent;
(b) Appointment of Successor Agent or curator;
(c) Restitution, surcharge, and disgorgement of compensation;
(d) Equitable relief, including injunctions per Section 11.4;
(e) Award of reasonable attorney’s fees and costs to prevailing party.

10. RISK ALLOCATION

10.1 Indemnification.
(a) Agent shall indemnify and hold harmless Principal for losses caused by Agent’s breach of fiduciary duty, gross negligence, willful misconduct, or fraud.
(b) Principal shall indemnify Agent against claims, liabilities, and expenses arising from acts performed in good faith and within the scope of authority, except to the extent caused by Agent’s wrongful conduct.

10.2 Limitation of Liability.
Unless arising from gross negligence or willful misconduct, Agent’s aggregate liability shall not exceed the value of the Assets Under Management at the time of the act or omission giving rise to liability.

10.3 Insurance.
Agent may secure fiduciary liability insurance and pay premiums from Principal’s funds.

10.4 Force Majeure.
Agent shall not be liable for failure to perform due to events beyond reasonable control, including natural disasters, war, acts of terrorism, governmental actions, or widespread systemic financial failures.

11. DISPUTE RESOLUTION

11.1 Governing Law.
This Instrument shall be governed by and construed in accordance with the laws of the State of Louisiana.

11.2 Forum Selection.
Exclusive venue for judicial proceedings shall lie in the [PARISH] District Court, Probate Division (or its successor), unless such court lacks subject-matter jurisdiction.

11.3 Limited Arbitration.
(a) Scope – Disputes concerning accountings, compensation, or reimbursement shall be submitted to binding arbitration administered by [ARBITRATION ADMINISTRATOR] in [PARISH], except claims seeking injunctive or other equitable relief per Section 11.4.
(b) Procedure – The arbitrator shall be a Louisiana-licensed attorney with five (5)+ years’ fiduciary-law experience. Discovery shall be limited to documents reasonably necessary for resolution.
(c) Award – The arbitrator may award monetary relief and fees but shall have no authority to award punitive damages.

11.4 Injunctive Relief.
Nothing herein limits the right of any interested party to seek temporary, preliminary, or permanent injunctive relief to prevent dissipation of assets or breach of fiduciary duty.

11.5 Jury Waiver.
To the extent permitted by Governing Law, the parties waive trial by jury in any judicial proceeding arising out of this Instrument, except where such waiver is expressly prohibited or ineffective.

12. REVOCATION; TERMINATION

12.1 Revocation by Principal.
Principal may revoke this Instrument in whole or in part by:
(a) Executing a written revocation delivered to Agent; or
(b) Executing a subsequent power of attorney expressly revoking prior instruments.

12.2 Automatic Termination.
This Instrument terminates upon the earliest of:
(a) Principal’s death;
(b) Revocation under Section 12.1;
(c) Agent’s resignation, death, incapacity, or removal and failure of any Successor Agent to accept within thirty (30) days;
(d) Judicial determination that the Principal is interdicted and that this mandate should be terminated.

12.3 Partial Revocation of Specific Powers.
Principal may revoke any specific power granted herein without affecting remaining powers by initialing the specific power and executing a dated notation of revocation in the margin or by separate instrument.

12.4 Notice of Revocation.
Agent shall promptly provide written notice of revocation or termination to all known third parties relying on this Instrument.

13. GENERAL PROVISIONS

13.1 Amendments & Waivers.
No amendment or waiver is effective unless in writing signed by Principal (or by judicial order, if Principal lacks capacity). A waiver is effective only for the specific instance and purpose given.

13.2 Assignment; Delegation.
Agent may not assign rights or delegate duties, except as expressly permitted in Section 3.2(m).

13.3 Successors & Assigns.
This Instrument binds and benefits the Principal, the Agent, Successor Agents, and their respective heirs, legal representatives, and permitted assigns.

13.4 Severability.
If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force and effect, and the Instrument shall be reformed to effectuate the original intent as nearly as possible.

13.5 Integration.
This Instrument constitutes the entire statement of the authority granted and supersedes all prior powers of attorney concerning financial matters, except as expressly preserved herein.

13.6 Counterparts; Electronic Signatures.
This Instrument may be executed in counterparts, each of which is deemed an original and all of which together constitute one document. Signatures delivered electronically or by facsimile shall be deemed originals for all purposes.

14. EXECUTION BLOCK & NOTARIAL ACKNOWLEDGMENT

14.1 Signatures

[Add signature blocks for Co-Agents or Successor Agents if they wish to acknowledge appointment.]

14.2 Witness Attestation

We, the undersigned witnesses, declare that the Principal appeared to be of sound mind, free from duress, and signed this Instrument in our presence.

14.3 Notarial Acknowledgment

State of Louisiana
Parish of [PARISH]

BEFORE ME, the undersigned authority, personally came and appeared [PRINCIPAL NAME], known to me or satisfactorily proven, who executed the foregoing Instrument as Principal, and [AGENT NAME], who executed same as Agent, and [WITNESS NAME #1] and [WITNESS NAME #2] as witnesses, all in my presence, on this [DATE].

IN WITNESS WHEREOF, I hereunto set my hand and affix my official seal.

[Seal]

[// GUIDANCE:
1. Review all bracketed placeholders and insert transaction-specific details.
2. Confirm execution formalities under latest Louisiana law (authentic act before notary + two witnesses).
3. Remove or tailor powers, compensation clauses, and arbitration parameters to client needs.
4. Advise clients to deliver copies to financial institutions and record in parish land records if real property powers will be exercised.]