Financial Power of Attorney - Utah

UTAH STATUTORY FORM POWER OF ATTORNEY

IMPORTANT INFORMATION

This power of attorney authorizes another person (your Agent) to make decisions concerning your property for you (the Principal). Your Agent will be able to make decisions and act with respect to your property, including your money, whether or not you are able to act for yourself. The meaning of authority over subjects listed on this form is explained in Utah Code Title 75A, Chapter 2, Uniform Power of Attorney Act.

This power of attorney does not authorize the Agent to make health-care decisions for you.

Select someone you trust to serve as your Agent. Unless you specify otherwise, generally the Agent's authority will continue until you die or revoke the power of attorney, or the Agent resigns or is unable to act for you.

Your Agent is entitled to reasonable compensation unless you state otherwise in the Special Instructions.

This form provides for one Agent. If you name a Co-Agent in the Special Instructions, Co-Agents are not required to act together unless you include that requirement in the Special Instructions.

If your Agent is unable or unwilling to act, this power will end unless you name a Successor Agent. You may also name a Second Successor Agent.

This power of attorney becomes effective immediately unless you state otherwise in the Special Instructions.

If you have questions about this power of attorney or the authority you are granting, seek legal advice before signing.

DESIGNATION OF AGENT

I, [PRINCIPAL FULL LEGAL NAME], name the following person as my Agent:

Name of Agent: [AGENT FULL LEGAL NAME]

Agent's Address: [ADDRESS]

Agent's Telephone Number: [TELEPHONE]

Agent's Email: [EMAIL]

DESIGNATION OF SUCCESSOR AGENTS

If my Agent is unable or unwilling to act for me, I name:

Name of Successor Agent: [NAME]

Address: [ADDRESS]

Telephone Number: [TELEPHONE]

If my Successor Agent is unable or unwilling to act for me, I name:

Name of Second Successor Agent: [NAME]

Address: [ADDRESS]

Telephone Number: [TELEPHONE]

GRANT OF GENERAL AUTHORITY

I grant my Agent and any Successor Agent general authority to act for me with respect to each subject that I initial below, as defined in Utah Code Title 75A, Chapter 2.

INITIAL each subject you want to include. If you want every subject, initial “All Preceding Subjects” instead of initialing each line. A blank line does not grant that subject.

GRANT OF SPECIFIC AUTHORITY

My Agent MAY NOT do any act listed below unless I initial that specific authority.

CAUTION: Granting one of these authorities may significantly reduce your property or change how your property is distributed at death. Initial only an authority you deliberately want to grant after legal review.

Unless a Utah attorney has advised otherwise, leave every specific-authority line blank.

LIMITATION ON AGENT'S AUTHORITY

An Agent who is not my ancestor, spouse, or descendant may not use my property to benefit the Agent or a person to whom the Agent owes an obligation of support unless I have included that authority in the Special Instructions.

The Agent may not make health-care decisions or execute, amend, or revoke my will.

SPECIAL INSTRUCTIONS

Choose one compensation instruction:

☐ The Agent may receive reimbursement and reasonable compensation.

☐ The Agent may receive reimbursement but no compensation.

☐ Compensation and reimbursement will be determined as follows: [DESCRIBE].

Additional instructions or limitations:

[____________________________________________________________]

[____________________________________________________________]

[____________________________________________________________]

EFFECTIVE DATE

This power of attorney is effective immediately unless I state otherwise in the Special Instructions.

Utah Code § 75A-2-109 permits effectiveness on a future date, event, or contingency. This form uses immediate effectiveness. Obtain Utah legal advice before adding a springing condition or an incapacity-determination procedure.

NOMINATION OF CONSERVATOR OR GUARDIAN

If a conservator of my estate or guardian of my person must be appointed, I nominate:

Nominee for Conservator: [NAME AND ADDRESS]

Nominee for Guardian: [NAME AND ADDRESS]

RELIANCE ON THIS POWER OF ATTORNEY

Any person, including my Agent, may rely upon the validity of this power of attorney or a copy unless that person knows it has terminated or is invalid.

Utah Code §§ 75A-2-119 and 75A-2-120 govern good-faith reliance on an acknowledged power, requests for an Agent certification, translation, or opinion of counsel, permitted refusals, and remedies for wrongful refusal. Subject to the statutory exceptions, a person must accept the power or request permitted supporting material within seven business days and, after receiving requested material, accept within five business days.

TERMINATION AND EARLIER POWERS

This power and an Agent's authority terminate as provided in Utah Code § 75A-2-110. A later power of attorney does not revoke an earlier power unless the later power expressly revokes the earlier power or all other powers. Choose one if revocation is intended:

☐ I revoke every earlier financial power of attorney that I executed.

☐ I revoke only the following earlier power or powers: [IDENTIFY BY DATE AND AGENT].

☐ I preserve the following earlier power or powers: [IDENTIFY BY DATE AND AGENT].

SIGNATURE AND ACKNOWLEDGMENT

Utah Code § 75A-2-105 requires the Principal's signature, or a signature made in the Principal's conscious presence at the Principal's direction, before a notary public or other person authorized to take acknowledgments. The Principal must have sufficient capacity to understand that the Principal is appointing an Agent to handle financial affairs. An acknowledged signature is presumed genuine and supports the statutory acceptance and reliance protections.

Residential-care warning: If the Principal resides or is about to reside in a hospital, assisted-living facility, skilled-nursing facility, or similar residential-care facility, § 75A-2-105 generally bars naming an owner, operator, health-care provider, or employee of that facility as Agent unless the person is the Principal's spouse, legal guardian, or next of kin, or the authority is strictly limited to assisting with Medicaid eligibility.

Principal's Signature: ____________________________________

Printed Name: [PRINCIPAL FULL LEGAL NAME]

Date: [__/__/____]

Address: [PRINCIPAL ADDRESS]

Notarial Acknowledgment

STATE OF UTAH

COUNTY OF [COUNTY]

This record was acknowledged before me on [__/__/____] by [PRINCIPAL FULL LEGAL NAME].

Signature of Notarial Officer: ____________________________________

My Commission Expires: [__/__/____]

Official Seal:

IMPORTANT INFORMATION FOR AGENT

Agent's Duties

When you accept authority under this power, you become the Principal's fiduciary. Under Utah Code §§ 75A-2-113 and 75A-2-114, acceptance may occur through exercising authority, performing duties, or other conduct indicating acceptance.

You must act in accordance with the Principal's reasonable expectations to the extent actually known and otherwise in the Principal's best interest, act in good faith, and act only within the authority granted. Unless the power provides otherwise, you must also act loyally, avoid conflicts that impair impartial action, act with care, competence, and diligence, keep records, cooperate with a health-care decision maker, and attempt to preserve the Principal's known estate plan when consistent with the Principal's best interest.

Termination of Agent's Authority

Stop acting if you learn that this power or your authority has terminated.

Liability of Agent

An Agent who violates Utah Code Title 75A, Chapter 2 or acts outside the authority granted may be liable. If any authority or duty is unclear, obtain legal advice before acting.

Agent's Acknowledgment

I, [AGENT FULL LEGAL NAME], acknowledge that I have read this power and the Important Information for Agent and accept appointment subject to its authority, limitations, and duties.

Agent's Signature: ____________________________________

Date: [__/__/____]

Each Successor Agent should sign a separate acknowledgment before acting.

Sources and References

• Utah Legislature, Utah Code Title 75A, Chapter 2: https://le.utah.gov/xcode/Title75A/Chapter2/75A-2.html
• Utah Legislature, Utah Code § 75A-2-301 statutory form: https://le.utah.gov/xcode/Title75A/Chapter2/75A-2-S301.html
• Utah Legislature, Utah Code §§ 75A-2-119 and 75A-2-120: https://le.utah.gov/xcode/Title75A/Chapter2/75A-2-S119.html and https://le.utah.gov/xcode/Title75A/Chapter2/75A-2-S120.html
• Utah Legislature, S.B. 79 (2024), Chapter 364, recodifying former Title 75, Chapter 9: https://le.utah.gov/~2024/bills/sbillenr/SB0079.pdf