DURABLE FINANCIAL POWER OF ATTORNEY

(South Carolina – S.C. Code Ann. Title 62, Art. 5, Pt. 5)

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 (this “Instrument”) is made effective as of [EFFECTIVE DATE] (the “Effective Date”) by and between:
a. [PRINCIPAL NAME], residing at [PRINCIPAL ADDRESS] (the “Principal”); and
b. [PRIMARY AGENT NAME], residing at [AGENT ADDRESS] (the “Agent”).

2. Recitals
A. Principal desires to appoint Agent to manage Principal’s financial and property affairs in accordance with the South Carolina Uniform Power of Attorney Act, S.C. Code Ann. §§ 62-8-101 et seq. (2023) (the “Act”).
B. Principal intends this Instrument to be durable and to remain effective notwithstanding Principal’s subsequent incapacity or disability.

II. DEFINITIONS

For ease of reference, capitalized terms used herein have the meanings set forth below:

“Act” – the South Carolina Uniform Power of Attorney Act, S.C. Code Ann. §§ 62-8-101 et seq. (2023).

“Agent” – the individual or entity designated in Section 1(b), including any Successor Agent appointed under Section 3.

“Assets Under Management” – all property, accounts, and assets subject to Agent’s authority at the time a claim giving rise to liability accrues.

“Durable” – having the meaning assigned under S.C. Code Ann. § 62-8-104; namely, not terminated by the Principal’s incapacity.

“Hot Powers” – those authorities requiring express grant under S.C. Code Ann. § 62-8-201(a).

“Person” – an individual, corporation, trust, estate, partnership, limited liability company, association, joint venture, government, or governmental subdivision, agency, or instrumentality.

“State Probate Court” – the court of competent jurisdiction in [COUNTY, SC] designated for probate matters.

III. OPERATIVE PROVISIONS

3. Appointment of Agent & Successor Agents
3.1 Principal hereby appoints Agent as the Principal’s true and lawful attorney-in-fact to act for the Principal as provided herein.
3.2 If the Agent is unable or unwilling to serve, the following Successor Agents shall serve in the order named: [SUCCESSOR AGENT #1], followed by [SUCCESSOR AGENT #2] (each a “Successor Agent”).

4. Durable Nature
This Instrument is intended to be—and shall be deemed—Durable pursuant to S.C. Code Ann. § 62-8-104.

5. Grant of General Authority
5.1 Incorporation by Reference. Subject to the limitations herein, Principal grants Agent general authority to act with respect to all subjects listed in S.C. Code Ann. §§ 62-8-204 through 62-8-217, inclusive, as though each subject were specifically enumerated herein.
5.2 Modifications. The following subjects are excluded or limited (mark “N/A” if none):
• [EXCLUSIONS OR LIMITATIONS]

6. Grant of Specific (“Hot”) Authority
Pursuant to S.C. Code Ann. § 62-8-201(a), Principal expressly grants Agent the following Hot Powers (select all that apply):
a. ☐ Create, amend, revoke, or terminate an inter vivos trust
b. ☐ Make a gift [ANNUAL LIMIT/CRUMMEY/OTHER]
c. ☐ Create or change rights of survivorship
d. ☐ Create or change a beneficiary designation
e. ☐ Delegate authority granted under this Instrument
f. ☐ Waive the Principal’s right to be a beneficiary of a joint and survivor annuity
g. ☐ Exercise fiduciary powers the Principal has authority to delegate
h. ☐ Disclaim property, including a power of appointment

// GUIDANCE: Advise the Principal to initial each selected Hot Power to demonstrate an affirmative, knowing grant of authority.

7. Special Instructions (Optional)
[INSERT ANY ADDITIONAL POWERS, LIMITATIONS, OR DIRECTIONS]

8. Nomination of Conservator and Guardian (Optional)
If a court decides that appointment of a conservator or guardian becomes necessary, Principal nominates [NOMINEE NAME] of [ADDRESS] to serve.

IV. REPRESENTATIONS & WARRANTIES

9. Principal’s Representations
   9.1 Capacity. Principal represents that Principal is at least eighteen (18) years of age and of sound mind.
   9.2 Ownership. Principal represents that any property subject to this Instrument is lawfully owned by Principal or subject to Principal’s power of disposition.

10. Agent’s Warranties (Acceptance in Section 28)
    Agent warrants that Agent will:
    a. Act in good faith and in the Principal’s best interest;
    b. Act loyally, avoiding conflicts of interest;
    c. Keep adequate records; and
    d. Preserve the Principal’s estate plan to the extent actually known.

V. COVENANTS & RESTRICTIONS

11. Accounting and Record-Keeping
    Agent shall maintain contemporaneous, complete, and accurate records of all receipts, disbursements, and transactions, and shall provide an accounting to the Principal or court-appointed fiduciary upon request within thirty (30) days.

12. Notice Obligations
    Agent shall promptly notify:
    a. Principal of any action taken on Principal’s behalf when feasible; and
    b. Successor Agent upon Agent’s resignation, death, incapacity, or inability to serve.

VI. DEFAULT & REMEDIES

13. Events of Default
    The following constitute an “Event of Default”:
    a. Agent’s breach of fiduciary duty under the Act;
    b. Misappropriation or wrongful transfer of Principal’s property;
    c. Failure to provide required accountings within stated time.

14. Cure and Notice
    Upon written notice of default from Principal, Successor Agent, or an interested Person, Agent shall have ten (10) days to cure, failing which remedies under Section 15 become available.

15. Remedies
    In addition to remedies under the Act or other applicable law, the following graduated remedies apply:
    a. Mandatory mediation under Section 25;
    b. Interim injunctive relief in State Probate Court;
    c. Surcharge and restitution limited to Assets Under Management;
    d. Termination of Agent’s authority.

VII. RISK ALLOCATION

16. Indemnification of Principal
    Agent shall indemnify, defend, and hold harmless Principal from any loss attributable to Agent’s breach of fiduciary duty, willful misconduct, or gross negligence.

17. Limitation of Agent’s Liability
    Except as provided in Section 16, Agent’s aggregate liability is capped at the monetary value of the Assets Under Management at the time of the act or omission giving rise to liability.

18. Insurance
    Agent shall obtain and maintain fiduciary liability insurance in coverage amounts of not less than [COVERAGE AMOUNT], naming the Principal as an additional insured.

19. Force Majeure
    Agent is excused from performance to the extent prevented by events beyond Agent’s reasonable control, provided Agent acts diligently to mitigate.

VIII. DISPUTE RESOLUTION

20. Governing Law
    This Instrument and all disputes arising hereunder are governed by the laws of the State of South Carolina, without regard to conflict-of-laws principles.

21. Forum Selection
    The parties consent to exclusive jurisdiction and venue in the State Probate Court of [COUNTY, SC] for all proceedings arising under or relating to this Instrument.

22. Limited Arbitration
    Monetary disputes not exceeding [ARBITRATION THRESHOLD] shall be submitted to binding arbitration under the Commercial Rules of the American Arbitration Association. Non-monetary or equitable claims remain within the exclusive jurisdiction of the State Probate Court.

23. Jury-Trial Waiver
    To the fullest extent permitted by S.C. law, the parties knowingly waive the right to trial by jury in any action arising out of this Instrument.

24. Injunctive Relief
    Nothing herein shall impair the court’s power to grant temporary, preliminary, or permanent injunctive relief to protect the Principal’s assets or enforce fiduciary duties.

25. Mediation Condition Precedent
    Except for applications for injunctive relief, the parties shall attempt in good faith to resolve any dispute through mediation before resorting to arbitration or litigation.

IX. GENERAL PROVISIONS

26. Amendment & Revocation
    26.1 Principal may amend or revoke this Instrument at any time by:
    a. Executing a written revocation or amendment with the same formalities required for execution under Section 29; and
    b. Delivering true copies to the Agent and any third party reasonably relying on this Instrument.
    26.2 Revocation is effective upon delivery unless a later date is specified.

27. Delegation & Assignment
    Agent may not delegate or assign authority except as expressly authorized under Section 6(e).

28. Acceptance by Agent
    Agent’s signature in Section 32 constitutes (i) acceptance of the appointment; (ii) agreement to act in accordance with the Act and this Instrument; and (iii) the warranties set forth in Section 10.

29. 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 the minimum extent necessary to effectuate the Principal’s intent.

30. Integration
    This Instrument constitutes the entire understanding between the parties concerning the subject matter hereof, superseding all prior powers of attorney except those expressly preserved in writing.

31. Counterparts; Electronic Signatures
    This Instrument may be executed in counterparts, each of which is deemed an original, and signatures transmitted electronically or by facsimile are binding.

X. EXECUTION BLOCK

32. Signature & Acknowledgment

Principal:

[PRINCIPAL NAME] – Principal
Date: _______

Witness #1 (must be disinterested):

Name: ______
Address: ____
Date: _______

Witness #2 (must be disinterested):

Name: ______
Address: ____
Date: _______

State of South Carolina )
County of [______] )

On this _ day of _, 20__, before me, the undersigned Notary Public, personally appeared [PRINCIPAL NAME], known to me or satisfactorily proven to be the individual whose name is subscribed to the within Instrument, and acknowledged that he/she executed the same for the purposes therein contained.

Notary Public for South Carolina
My Commission Expires: _______

// GUIDANCE: South Carolina requires both (a) acknowledgment before a notary public AND (b) signatures of two disinterested witnesses who are present when the Principal signs or acknowledges the Instrument.

33. Agent’s Acceptance

I, [AGENT NAME], hereby accept the appointment as Agent and agree to act in accordance with the foregoing Instrument and the Act.

[AGENT NAME] – Agent
Date: _______

(Repeat acceptance lines for each Successor Agent, if desired.)

STATUTORY NOTICE TO PRINCIPAL

You are granting authority to another person (called the Agent) to make decisions concerning your property and to manage your property, which may include the power to dispose of, sell, convey, or encumber your real and personal property without advance notice or approval. The powers granted to the Agent are broad and sweeping. …
[// GUIDANCE: Insert verbatim statutory notice from S.C. Code Ann. § 62-8-103(b) to ensure compliance.]

IMPORTANT INFORMATION FOR AGENT

Agent’s duties and liabilities are set forth in S.C. Code Ann. § 62-8-114. …
[// GUIDANCE: Insert statutory Agent advisement from § 62-8-113 to § 62-8-120 as an attachment or schedule.]

END OF DOCUMENT