DURABLE FINANCIAL POWER OF ATTORNEY

(Ohio Uniform Power of Attorney Act – O.R.C. §§ 1337.21 et seq.)

[// GUIDANCE: This template is drafted to satisfy the Ohio Uniform Power of Attorney Act (“Act”).
Customize each bracketed term, delete all guidance before execution, and review final form with Ohio counsel prior to use.]

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 Block

I. DOCUMENT HEADER

1. Parties.
This Durable Financial Power of Attorney (“Power” or “Agreement”) is executed by [PRINCIPAL LEGAL NAME], residing at [ADDRESS] (“Principal”), in favor of [AGENT LEGAL NAME], residing at [ADDRESS] (“Agent”).

2. Appointment & Consideration.
In consideration of the mutual covenants herein and for other good and valuable consideration, Principal appoints Agent to act for Principal with respect to the matters and authorities granted below.

3. Effective Date.
This Power becomes effective on [EFFECTIVE DATE OR EVENT, e.g., “the date of Principal’s signature” OR “the date on which Principal’s incapacity is certified by two licensed physicians”].

4. Governing Law & Venue.
This Power is governed by and construed in accordance with the Ohio Uniform Power of Attorney Act, O.R.C. §§ 1337.21 et seq., and other applicable Ohio law (“Governing Law”). Any probate matters shall be brought exclusively in the [COUNTY] Probate Court, State of Ohio (“Forum Court”).

II. DEFINITIONS

For purposes of this Power, capitalized terms have the meanings set forth below:

“Act” – The Ohio Uniform Power of Attorney Act, O.R.C. §§ 1337.21 et seq.
“Agent” – The individual(s) appointed in Section 1, including any Successor Agent appointed under § III(6).
“Assets Under Management” – All assets, accounts, or interests subject to Agent’s authority at the time a claim arises.
“Durable” – Having the meaning set forth in O.R.C. § 1337.24; i.e., not terminated by Principal’s incapacity.
“Effective Date” – The date or condition stated in Section 1.3.
“Fiduciary Duties” – Duties imposed on an Agent under O.R.C. § 1337.34 and this Agreement, including loyalty, care, record-keeping, and cooperation with health-care fiduciaries.
“Forum Court” – The court identified in Section 1.4.
“Principal” – The individual granting authority herein.
“Record” – Information inscribed on a tangible medium or stored in an electronic or other medium retrievable in perceivable form.

[// GUIDANCE: Add additional defined terms as needed for bespoke transactions, e.g., “Digital Assets.”]

III. OPERATIVE PROVISIONS

1. Grant of Authority.
   a. Incorporation by Reference. Subject to the limitations herein, Principal grants Agent all powers described in O.R.C. §§ 1337.31–1337.60.
   b. Specific Powers. Without limiting the foregoing, Agent may:
   i. Real Property – Buy, sell, lease, encumber, manage, or convey any interest in real property.
   ii. Tangible Personal Property – Purchase, sell, pledge, or lease personal property.
   iii. Banks & Financial Institutions – Open, close, and manage accounts; sign checks; draft; endorse instruments.
   iv. Securities – Trade, transfer, pledge, or manage securities and investment accounts.
   v. Digital Assets – Access, control, and transfer digital assets and electronic communications.
   vi. Taxes – Prepare, sign, and file federal, state, and local tax returns; receive confidential information.
   vii. Business Interests – Operate, buy, sell, or wind up business entities or interests.
   viii. Trusts & Estates – Exercise powers vested in Principal as trustee, personal representative, or beneficiary.
   ix. Claims & Litigation – Commence, defend, settle, or otherwise resolve claims; hire counsel.
   x. Gifts – [OPTIONAL – default limited to annual federal exclusion amount unless otherwise stated].
   xi. All Other Acts – Perform any lawful act in Principal’s best interest consistent with Fiduciary Duties.

[// GUIDANCE: Strike or modify any authority the Principal wishes to withhold.]

2. Hot Powers – Required Express Grant.
   Pursuant to O.R.C. § 1337.40, Agent is specifically authorized to:
   a. Create or change beneficiary designations;
   b. Create, amend, or revoke trusts (other than a revocable living trust) [LIMIT AS DESIRED];
   c. Make gifts up to [$ AMOUNT or “no limit”] per calendar year;
   d. Delegate authority under this Power;
   e. Exercise fiduciary powers that Principal may delegate.

3. Durability.
   This Power is DURABLE and shall not be affected by Principal’s subsequent incapacity.

4. Record-Keeping & Reports.
   Agent shall maintain contemporaneous records of all receipts, disbursements, and transactions and provide an accounting to Principal, a court-appointed guardian, or other legally authorized party upon written request within thirty (30) days.

5. Co-Agents. [YES/NO]
   If two or more Agents are named, they shall act [JOINTLY / SEVERALLY]. A dissenting Agent must promptly provide written notice to Principal and all Co-Agents.

6. Successor Agent.
   If the initial Agent is unable or unwilling to serve, [SUCCESSOR AGENT NAME] is appointed as Successor Agent with identical powers and duties.

7. Nomination of Guardian.
   Should guardianship proceedings become necessary, Principal nominates Agent to serve as guardian of the estate, and [OPTIONAL] of the person.

8. Compensation & Expenses.
   Agent is entitled to reasonable compensation consistent with O.R.C. § 1337.34(F) and reimbursement of reasonable expenses properly incurred.

IV. REPRESENTATIONS & WARRANTIES

1. Principal’s Capacity.
   Principal affirms that at the time of execution Principal is at least eighteen (18) years old, of sound mind, and under no constraint or undue influence.

2. Authority of Agent.
   Each Agent represents that:
   a. Agent is not disqualified from serving by any court order;
   b. Agent will accept the appointment and perform Fiduciary Duties in good faith; and
   c. Agent has reviewed and understands the Act and this Agreement.

3. Survival.
   The representations, warranties, and Fiduciary Duties herein survive revocation or termination with respect to actions taken during the term of the Power.

V. COVENANTS & RESTRICTIONS

1. Fiduciary Standards.
   Agent shall:
   a. Act in good faith, within the scope of authority, and in Principal’s best interest;
   b. Avoid conflicts of interest;
   c. Keep Principal’s property separate from Agent’s own except as permitted by O.R.C. § 1337.34(B)(4);
   d. Preserve Principal’s estate plan to the extent actually known.

2. Compliance.
   Agent shall comply with all applicable federal and state statutes, regulations, and court orders, including but not limited to anti-money-laundering laws and tax withholding obligations.

3. Notice Obligations.
   Agent must give prompt written notice to Principal (or Principal’s guardian or spouse, if incapacitated) of:
   a. Any change in Agent’s name, address, or capacity to serve;
   b. Any actual or threatened litigation involving the Principal’s assets.

4. Prohibited Acts.
   Agent may not:
   a. Make gifts to self except as expressly authorized;
   b. Create joint tenancy with right of survivorship in Agent’s favor;
   c. Create or modify beneficiary designations naming Agent or Agent’s dependents unless expressly permitted.

VI. DEFAULT & REMEDIES

1. Events of Default.
   The following constitute default by Agent:
   a. Breach of Fiduciary Duties;
   b. Self-dealing not expressly authorized;
   c. Failure to provide records within thirty (30) days of a proper request;
   d. Incapacity, resignation without notice, or death of Agent.

2. Notice & Cure.
   a. Principal (or an interested person under O.R.C. § 1337.09) shall deliver written notice of default to Agent.
   b. Agent shall have ten (10) business days to cure, except for willful misconduct, which is not curable.

3. Remedies.
   a. Temporary Restraining Order or Injunction from Forum Court;
   b. Removal of Agent and appointment of Successor Agent;
   c. Restitution and surcharge;
   d. Recovery of reasonable attorneys’ fees and costs incurred enforcing this Power.

VII. RISK ALLOCATION

1. Indemnification by Agent.
   Agent shall indemnify, defend, and hold harmless Principal and Principal’s estate from and against any loss, liability, or expense arising from Agent’s breach of Fiduciary Duties or willful misconduct.

2. Limitation of Liability.
   Except for willful misconduct, gross negligence, or breach of Fiduciary Duties, Agent’s aggregate liability shall not exceed the fair market value of the Assets Under Management at the time the actionable event occurred.

3. Insurance.
   Agent [SHALL/SHALL NOT] procure fiduciary liability insurance with minimum limits of [$ AMOUNT], naming Principal as additional insured.

4. Force Majeure.
   Agent is excused from performance to the extent rendered impossible by events beyond reasonable control (e.g., natural disasters, governmental acts, widespread system outages), provided Agent uses diligent efforts to resume performance.

VIII. DISPUTE RESOLUTION

1. Governing Law.
   The parties agree to the Governing Law specified in Section 1.4.

2. Forum Selection.
   All probate matters, accountings, and petitions relating to this Power must be filed in the Forum Court.

3. Limited Arbitration.
   a. Scope. Monetary disputes between Principal (or estate) and Agent not exceeding [$75,000] shall be resolved by confidential, binding arbitration under the Commercial Rules of the American Arbitration Association (“AAA”). Equitable relief is expressly excluded.
   b. Seat & Procedure. Seat of arbitration: [CITY, OH]. A single arbitrator with at least five (5) years’ fiduciary-law experience shall be appointed by the AAA.
   c. Injunctive Relief Preservation. Either party may seek provisional or injunctive relief from the Forum Court to preserve assets or enforce fiduciary obligations.

4. Jury Waiver.
   To the fullest extent permitted by law, each party knowingly and voluntarily waives any right to jury trial in any action or proceeding arising under or relating to this Power, except where such waiver is prohibited by statute.

IX. GENERAL PROVISIONS

1. Amendment & Revocation.
   a. Principal may amend or revoke this Power at any time by executing a written instrument signed before a notary public and delivering it to Agent and any third party reasonably relying on this Power.
   b. Revocation is effective upon delivery but shall not affect acts lawfully taken prior thereto.
   c. For interests in real property, revocation may be recorded with the [COUNTY] Recorder pursuant to O.R.C. § 1337.26(D).

2. Successors & Assigns.
   This Power inures to the benefit of and is binding on Principal, Agent, their respective successors, legal representatives, and permitted assigns.

3. Severability.
   If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force, and the invalid provision shall be reformed to the minimum extent necessary to preserve intent and enforceability.

4. Entire Agreement.
   This document constitutes the entire power of attorney between the parties concerning the subject matter and supersedes all prior powers or agency appointments, except [LIST ANY POWERS TO REMAIN IN EFFECT].

5. Counterparts & Electronic Signatures.
   This Power may be executed in counterparts, each deemed an original, and by electronic or digital signature to the fullest extent permitted by O.R.C. § 1306.01 et seq.

X. EXECUTION BLOCK

[// GUIDANCE: Ohio requires acknowledgment before a notary public. Witnesses are optional for a financial POA but may be advisable. Remove unused signature lines.]

1. PRINCIPAL

[PRINCIPAL LEGAL NAME]
Date: _____

State of Ohio )
County of ______ ) ss:

On this ___ day of ____, 20__, before me, the undersigned notary public, personally appeared [PRINCIPAL LEGAL NAME], known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that (s)he executed the same for the purposes therein contained.

Notary Public
My Commission Expires: ____

2. AGENT ACCEPTANCE (Optional but recommended – O.R.C. § 1337.25(D))

I, [AGENT LEGAL NAME], have read the attached Durable Financial Power of Attorney and accept appointment as Agent. I understand and will act in accordance with my Fiduciary Duties under the Agreement and Ohio law.

[AGENT LEGAL NAME]
Date: _____

3. SUCCESSOR AGENT ACCEPTANCE (if any)

[SUCCESSOR AGENT LEGAL NAME]
Date: _____

© [YEAR] [LAW FIRM NAME or DRAFTER]. All rights reserved.