DURABLE FINANCIAL POWER OF ATTORNEY

(MISSISSIPPI)

[// GUIDANCE: This template is drafted to comply with the Mississippi Uniform Power of Attorney Act (the “Act”). It intentionally tracks the Act’s structure while expanding on fiduciary duties, dispute-resolution mechanics, and risk-allocation terms. Practitioners should tailor bracketed text, confirm county-specific recording requirements if the instrument will be recorded, and review any recent statutory amendments prior to 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 & Acknowledgment Blocks
 Exhibit A – Statutory Notice to Principal
 Exhibit B – Agent’s Certification

I. DOCUMENT HEADER

1. Title. Durable Financial Power of Attorney (the “Power”).
2. Principal. [PRINCIPAL NAME], a natural person of legal age and domicile at [PRINCIPAL ADDRESS] (the “Principal”).
3. Agent. [PRIMARY AGENT NAME], whose mailing address is [PRIMARY AGENT ADDRESS] (the “Agent”).
   a. Successor Agent(s) (optional):
   i. [FIRST SUCCESSOR AGENT];
   ii. [SECOND SUCCESSOR AGENT].
4. Effective Date. This Power is (check one):
   ☐ Immediate ☐ Springing upon a written determination of incapacity by [ONE PHYSICIAN | TWO LICENSED PHYSICIANS | OTHER].
5. Durability. This Power shall not terminate upon the Principal’s incapacity, thereby constituting a “durable” power of attorney under the Act.
6. Governing Law. This Power is governed by the laws of the State of Mississippi, without regard to conflict-of-laws principles.

II. DEFINITIONS

The following terms, appearing in initial capital letters, have the meanings set forth below:

“Act” – The Mississippi Uniform Power of Attorney Act, as amended.
“Agent” – The person(s) designated in Section I.3, including any duly acting Successor Agent.
“Assets” – All property, real and personal, tangible and intangible, in which the Principal holds any interest.
“Durable” – A power that is not terminated by the Principal’s subsequent incapacity.
“Incapacity” – Inability to receive and evaluate information or make or communicate decisions, as certified pursuant to Section I.4.
“Liability Cap” – The aggregate value of Assets under the Agent’s management at the time liability is determined (see § VII.2).
“Notice” – Written notice delivered in person, by certified U.S. Mail (return receipt requested), or by nationally recognized overnight courier.
“Record” – Information that is inscribed on a tangible medium or stored in an electronic or other medium and retrievable in perceivable form.
“Successor Agent” – Any substitute Agent identified in Section I.3.a who has accepted appointment pursuant to § VI.3.

[// GUIDANCE: Add or delete definitions to match bespoke drafting.]

III. OPERATIVE PROVISIONS

3.1 Grant of General Authority

The Principal hereby appoints the Agent, with full power of substitution, to act for the Principal in all matters relating to the Principal’s property, financial, and legal affairs, to the fullest extent permitted by the Act, subject to the limitations herein.

3.2 Enumerated Subject Matters

Except as limited in § 3.3, the Agent may exercise authority over the following categories of matters:

a. Real Property Transactions
b. Tangible Personal Property
c. Banking & Safe-Deposit Transactions
d. Securities & Investment Instruments
e. Digital Assets & Electronic Communications
f. Retirement Plans & IRAs
g. Insurance & Annuities
h. Claims & Litigation
i. Personal & Family Maintenance
j. Governmental Benefits
k. Tax Matters
l. Estate & Trust Matters (including disclaimers, renunciations, and beneficiary designations)
m. Business Operations

3.3 Special Powers Requiring Express Authority

Pursuant to the Act, the Agent may not perform the following acts unless expressly authorized below (check all that apply):

☐ Make gifts in excess of the annual federal gift-tax exclusion.
☐ Create, amend, revoke, or terminate a trust.
☐ Create or change beneficiary designations.
☐ Exercise fiduciary powers the Principal may hold.
☐ Delegate authority granted herein.

[// GUIDANCE: Statute requires explicit consent for the above. Tailor as necessary.]

3.4 Durability; Continuity of Power

All acts performed by the Agent before actual receipt of Notice of revocation, termination, or death of the Principal shall be valid and binding.

3.5 Compensation & Reimbursement

a. Compensation. ☐ None ☐ Reasonable compensation consistent with the Principal’s customary professional rate / [INSERT].
b. Reimbursement. The Agent is entitled to prompt reimbursement for reasonable expenses properly incurred.

IV. REPRESENTATIONS & WARRANTIES

4.1 Principal’s Representations
a. Capacity. The Principal is of sound mind, acting voluntarily, and not under duress or undue influence.
b. Ownership. The Principal has legal authority over the Assets subject to this Power.

4.2 Agent’s Representations
a. Acceptance. By signing Exhibit B, the Agent accepts the appointment and agrees to act as fiduciary.
b. Qualifications. The Agent is at least eighteen (18) years of age and not disqualified under applicable law.
c. Fiduciary Focus. The Agent shall act in good faith, within the scope of authority, and in the Principal’s best interest.

V. COVENANTS & RESTRICTIONS

5.1 Standard of Care
The Agent shall exercise the care, competence, and diligence ordinarily exercised by agents in similar circumstances and shall comply with the fiduciary duties enumerated in the Act.

5.2 Record-Keeping & Accountings
a. Records. Maintain contemporaneous records of all receipts, disbursements, and transactions.
b. Accountings. Provide a written accounting to the Principal (or the Principal’s legal representative) upon (i) written request; (ii) annually; and (iii) upon resignation or removal.

5.3 No Self-Dealing
Absent explicit written consent by the Principal or court order, the Agent shall not engage in self-dealing, commingling of funds, or transactions that create a conflict of interest.

5.4 Bond (optional)
☐ Bond is waived.
☐ Agent shall post a fiduciary bond in the amount of $[AMOUNT].

VI. DEFAULT & REMEDIES

6.1 Events of Default
a. Breach of fiduciary duty.
b. Incapacity or bankruptcy of the Agent.
c. Resignation without thirty (30) days’ prior Notice.
d. Removal by judicial order.

6.2 Remedies
Upon default, the Principal (or an interested person under the Act) may:
a. Revoke the Agent’s authority;
b. Compel an accounting;
c. Seek injunctive relief to prevent dissipation of Assets;
d. Recover damages, fees, and costs as provided herein.

6.3 Successor Agent Activation
If the Agent’s authority terminates, the next-listed Successor Agent who has signed Exhibit B automatically succeeds to all powers upon delivery of a signed acceptance to the Principal (or custodian of records).

VII. RISK ALLOCATION

7.1 Indemnification of Principal
The Agent shall indemnify and hold harmless the Principal from losses arising from the Agent’s bad faith, gross negligence, or willful misconduct.

7.2 Limitation of Agent’s Liability
Absent bad faith, gross negligence, or willful misconduct, the Agent’s aggregate personal liability shall not exceed the Liability Cap, which equals the value of Assets under the Agent’s management at the time liability is determined. The Agent shall not be liable for any decrease in Asset value due solely to market conditions.

7.3 Insurance
[OPTIONAL] The Agent shall maintain errors and omissions insurance with minimum limits of $[AMOUNT] and provide proof upon request.

7.4 Force Majeure
The Agent shall not be liable for failure to act when prevented by events outside the Agent’s reasonable control, provided commercially reasonable efforts are used to mitigate harm.

VIII. DISPUTE RESOLUTION

8.1 Governing Law
This Power and any dispute arising hereunder shall be governed by Mississippi law.

8.2 Forum Selection
Exclusive venue lies in the Chancery/Probate Court of [COUNTY], Mississippi (the “Designated Court”).

8.3 Limited Arbitration
a. Scope. Monetary disputes not exceeding $[THRESHOLD] shall be resolved by binding arbitration administered by the American Arbitration Association under its Commercial Rules.
b. Exclusions. Claims for injunctive or equitable relief, accountings, or allegations of fiduciary breach shall proceed exclusively in the Designated Court.
c. Fees. Arbitrator may award fees and costs consistent with § VI.2.d.

8.4 Jury Waiver
To the extent permitted by Mississippi law and the U.S. Constitution, the parties knowingly waive trial by jury in any action arising out of this Power.

8.5 Injunctive Relief
Nothing herein limits the Principal’s right to seek provisional or permanent injunctive relief for breach of fiduciary duties.

IX. GENERAL PROVISIONS

9.1 Amendment & Revocation
The Principal may amend or revoke this Power at any time by executing a Record clearly expressing such intent and delivering Notice to the Agent and relevant third parties. Revocation is effective upon actual receipt.

9.2 Reliance by Third Parties
A third party may rely upon the Agent’s presentation of this Power, a certificate executed by the Agent pursuant to the Act, and the absence of actual knowledge of revocation.

9.3 Assignment & Delegation
The Agent may not delegate duties or assign rights except as expressly permitted in § 3.3 or under court order.

9.4 Severability
If any provision is held unenforceable, the remaining provisions shall be given effect to the maximum extent permitted.

9.5 Entire Agreement
This Power, including Exhibits, constitutes the entire understanding between the parties regarding the subject matter.

9.6 Electronic Signatures & Counterparts
This Power may be executed in counterparts and by electronic signature, each of which is deemed an original and all of which constitute one instrument.

9.7 Headings
Section headings are for convenience only and do not affect interpretation.

X. EXECUTION & ACKNOWLEDGMENT BLOCKS

10.1 Principal’s Signature

[PRINCIPAL NAME], Principal
Date: _____

10.2 Witness Attestation (optional but recommended)

As witnesses to the Principal’s signature, we declare that the Principal is personally known to us, appears to be of sound mind, and signed this Power voluntarily.

Witness 1: ____ Date: __
Print Name: _____

Witness 2: ____ Date: __
Print Name: _____

[// GUIDANCE: Neither Mississippi law nor the Act mandates witness signatures for a financial POA; nevertheless, many practitioners include them to reduce challenges and facilitate out-of-state recognition.]

10.3 Notary Acknowledgment

State of Mississippi
County of ______

On this _ day of _, 20__, before me, the undersigned Notary Public, personally appeared [PRINCIPAL NAME], satisfactorily proven to me 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 Public
My Commission Expires: _______
Notary Seal:

10.4 Agent’s Acceptance (Exhibit B)

[See Exhibit B attached; must be signed by each Agent and Successor Agent.]

EXHIBIT A

STATUTORY NOTICE TO PRINCIPAL
[Insert statutory “Important Information for the Principal” verbatim from the Act.]

EXHIBIT B

AGENT’S CERTIFICATION & ACCEPTANCE

I, [AGENT NAME], have read the Durable Financial Power of Attorney dated ______ and accept the appointment as Agent. I understand my fiduciary duties under the Act and agree to act in the Principal’s best interest.

[AGENT NAME], Agent
Date: _____

(Repeat for each Successor Agent)

[// GUIDANCE: File or record this Power only if real-property transactions are anticipated. When recording, include a legal description of the property and comply with county formatting margins, font sizes, and any deed tax requirements.]