DURABLE FINANCIAL POWER OF ATTORNEY

(Oregon – ORS Chapter 127 Compliant)

[// GUIDANCE: This template is designed for use by licensed Oregon attorneys. Customize all bracketed terms, confirm statutory citations, and review execution formalities before release to the client.]

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Operative Provisions
   3.1 Grant of Authority
   3.2 Durable Nature; Effectiveness
4. Representations & Warranties
5. Covenants & Restrictions
6. Default & Remedies
7. Risk Allocation
8. Dispute Resolution
9. General Provisions
10. Execution Block

1. DOCUMENT HEADER

DURABLE FINANCIAL POWER OF ATTORNEY

This Durable Financial Power of Attorney (this “Agreement”) is made as of [EFFECTIVE DATE] (“Effective Date”) by and between:

• [PRINCIPAL FULL LEGAL NAME], residing at [PRINCIPAL ADDRESS] (“Principal”); and
• [AGENT FULL LEGAL NAME], residing at [AGENT ADDRESS] (“Agent”).

Recitals.
A. Principal desires to appoint Agent as Principal’s lawful attorney-in-fact with authority over Principal’s property and financial affairs.
B. Principal intends that this power of attorney be durable and remain in effect notwithstanding Principal’s subsequent incapacity.

NOW, THEREFORE, in consideration of the mutual promises herein and other good and valuable consideration, the parties agree as follows.

2. DEFINITIONS

“Act” – Oregon’s statutes governing powers of attorney, currently codified in ORS Chapter 127, as amended.

“Assets Under Management” – All property and interests of Principal actually held, invested, or controlled by Agent at the time a liability arises.

“Durable” – Having continuing validity notwithstanding Principal’s incapacity.

“Incumbency Certificate” – A written certification by Agent confirming Agent’s continued authority hereunder.

“Third Party” – Any person or entity (including financial institutions) that in good faith relies upon this Agreement.

[// GUIDANCE: Add, modify, or delete defined terms as needed for the engagement.]

3. OPERATIVE PROVISIONS

3.1 Grant of Authority

Subject to the limitations herein, Principal hereby irrevocably appoints Agent as Principal’s true and lawful attorney-in-fact to act for Principal and in Principal’s name with respect to all matters concerning Principal’s property, business, and financial affairs, including the powers enumerated in Section 3.3.

3.2 Durable Nature; Effectiveness

(a) Durability. This Agreement shall not be affected by Principal’s subsequent incapacity or disability.
(b) Commencement. The authority granted herein becomes effective:
 ☐ Immediately on the Effective Date; – OR –
 ☐ Upon the occurrence of the following contingency: [SPRINGING EVENT].
(c) Termination. Authority terminates only as provided in Section 7.2 or by operation of law.

3.3 Enumerated Agent Powers

Except as otherwise provided, Agent may:
1. Banking – Open, close, and manage deposit accounts.
2. Investments – Buy, sell, and manage securities, mutual funds, and commodities.
3. Real Property – Acquire, convey, lease, or encumber real estate.
4. Personal Property – Buy, sell, or lease tangible and intangible personal property.
5. Business Operations – Operate, manage, or dispose of business interests.
6. Insurance – Acquire or cancel policies; file claims.
7. Retirement Plans – Contribute to, roll over, or withdraw from retirement plans.
8. Taxes – Prepare, sign, and file federal, state, and local tax returns; represent Principal before tax authorities.
9. Government Benefits – Apply for, receive, and manage Social Security, Medicare, and other governmental benefits.
10. Safe-Deposit Boxes – Access, remove, or replace contents.
11. Digital Assets – Access and manage electronic communications and digital accounts to the fullest extent permitted by law.
12. [OPTIONAL] Gifts & Estate Planning – Requires express authority. If selected, Agent may:
 (a) make gifts not exceeding [$ AMOUNT]/year per recipient;
 (b) create, amend, or revoke revocable trusts;
 (c) make transfers to achieve Medicaid eligibility or tax objectives.

[// GUIDANCE: Oregon law requires express, separate authorization for certain powers—e.g., gifting, beneficiary changes, self-dealing. Include sub-powers only when specifically initialed by the Principal.]

4. REPRESENTATIONS & WARRANTIES

4.1 Principal represents and warrants that:
(a) Principal is at least 18 years of age, of sound mind, and under no constraint impairing execution of this Agreement;
(b) all assets over which authority is granted are lawfully owned by Principal or subject to Principal’s control.

4.2 Agent represents and warrants that:
(a) Agent is willing and able to act in the fiduciary capacity described herein;
(b) Agent is not disqualified under any applicable law from serving as attorney-in-fact for Principal.

All representations and warranties shall survive execution and any termination of this Agreement with respect to acts or omissions occurring before termination.

5. COVENANTS & RESTRICTIONS

5.1 Fiduciary Standard. Agent shall:
(a) act in good faith, with the care an ordinarily prudent person in similar circumstances would exercise (“Prudent-Person Standard”);
(b) act loyally for the benefit of Principal and avoid conflicts of interest;
(c) keep adequate records and provide accountings on written request of Principal or [PERSON ENTITLED TO ACCOUNTING];
(d) preserve Principal’s estate plan to the extent known to Agent.

5.2 Co-Agents and Successor Agents.
(a) [CO-AGENT NAME] is appointed as co-agent. Each may act alone ☐ yes / ☐ no.
(b) [SUCCESSOR AGENT NAME] shall serve if the acting Agent is unwilling or unable to serve.

5.3 Self-Dealing Restriction. Agent shall not transfer Principal’s property to Agent or Agent’s relatives except as expressly permitted in Section 3.3(12).

5.4 Notice of Incapacity. If a springing power is selected, a written statement of incapacity by [LICENSED PHYSICIAN/OTHER] triggers effectiveness.

6. DEFAULT & REMEDIES

6.1 Events of Default. Any of the following constitutes default:
(a) breach of fiduciary duty;
(b) failure to provide an accounting within 30 days after written demand;
(c) misappropriation or conversion of Principal’s property.

6.2 Notice & Cure. Principal or an interested party identified under ORS Chapter 127 may deliver written notice specifying the default and demanding cure within 15 days.

6.3 Remedies. If default is uncured, Principal (or a court-appointed conservator) may:
(a) revoke Agent’s authority;
(b) pursue injunctive relief in the [COUNTY] Probate Court;
(c) obtain damages, including reasonable attorney fees and costs; and
(d) petition for an accounting or surcharge.

7. RISK ALLOCATION

7.1 Indemnification. Subject to Section 7.3, Principal shall indemnify Agent against third-party claims arising from lawful acts performed under this Agreement, except claims resulting from Agent’s breach of fiduciary duty, gross negligence, or intentional misconduct.

7.2 Termination & Revocation.
(a) Principal may revoke this Agreement at any time by written instrument delivered to Agent and all known Third Parties.
(b) Revocation is effective upon receipt by Agent or, as to Third Parties, upon actual notice.
(c) This Agreement automatically terminates on the first to occur of: (i) Principal’s death; (ii) complete revocation; (iii) judicial appointment of a conservator with express authority that supersedes Agent’s powers.

7.3 Limitation of Liability. To the fullest extent permitted by law, Agent’s aggregate personal liability hereunder shall not exceed the fair-market value of the Assets Under Management at the time the liability arises. This cap does not apply to losses caused by Agent’s fraud or intentional misconduct.

7.4 Insurance. Agent shall obtain and maintain fiduciary liability insurance in an amount not less than [$ AMOUNT] naming Principal as an additional insured.

8. DISPUTE RESOLUTION

8.1 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Oregon without regard to its conflict-of-laws rules.

8.2 Forum Selection. The parties consent to exclusive jurisdiction and venue in the [COUNTY] Probate Court for all proceedings seeking equitable relief, accountings, or interpretation of this Agreement.

8.3 Limited Arbitration. Except for (a) petitions for injunctive relief, (b) fiduciary accountings, and (c) matters subject to probate jurisdiction, any controversy arising out of this Agreement shall be resolved by confidential, binding arbitration administered by [ARBITRATION PROVIDER] in accordance with its commercial rules. The arbitrator shall issue a reasoned award.

8.4 Jury Waiver (Conditional). To the extent arbitration is unavailable or unenforceable, the parties knowingly and voluntarily waive any right to trial by jury, except where such waiver is prohibited by applicable law.

8.5 Preservation of Injunctive Relief. Nothing in this Section limits the right of any party to seek temporary, preliminary, or permanent injunctive relief from a court of competent jurisdiction.

9. GENERAL PROVISIONS

9.1 Amendments & Waivers. Any amendment or waiver must be in a writing signed by Principal. No waiver shall be deemed a waiver of any subsequent breach.

9.2 Assignment. Agent’s authority is personal and may not be assigned or delegated except to a duly appointed successor agent under Section 5.2.

9.3 Severability. If any provision is held invalid, the remaining provisions shall remain in full force, and the invalid provision shall be reformed to the minimum extent necessary to fulfill its purpose.

9.4 Integration. This Agreement constitutes the entire understanding between the parties regarding the subject matter and supersedes all prior powers of attorney executed by Principal, except those expressly preserved in [SCHEDULE OF OTHER POAS].

9.5 Counterparts; Electronic Signatures. This Agreement may be executed in counterparts, each of which is deemed an original, and all of which together constitute one instrument. Signatures transmitted electronically (e.g., via PDF or recognized e-signature platform) shall be deemed originals.

10. EXECUTION BLOCK

IN WITNESS WHEREOF, the parties have executed this Durable Financial Power of Attorney as of the Effective Date.

NOTARIZATION

State of Oregon )
County of [COUNTY] )

On this _ day of _, 20__, before me, [NOTARY NAME], a Notary Public in and for said State, personally appeared [PRINCIPAL NAME], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to this instrument, and acknowledged that such person executed the same for the purposes therein contained.

Notary Public Signature: ____
My Commission Expires: _______

[// GUIDANCE: Oregon does not require witness attestation for a financial power of attorney, but notarization is strongly recommended for real-property transactions and to facilitate acceptance by third parties.]

AGENT’S ACKNOWLEDGMENT

I, [AGENT NAME], have read the foregoing Durable Financial Power of Attorney and accept appointment as Agent. I understand and will act in accordance with my fiduciary duties under Oregon law.

Agent Signature: _____
Date: _____

[// GUIDANCE:
1. Deliver copies to financial institutions and any successor agents.
2. Record in county real-property records if Agent will convey real property.
3. Maintain originals in a secure, fire-resistant location.]