DURABLE FINANCIAL POWER OF ATTORNEY
(State of Utah)
(Comprehensive Form – Utah Uniform [Durable] Power of Attorney Act Compliant)

[// GUIDANCE: Replace all bracketed, bold-capped text (“[LIKE THIS]”) with deal-specific facts. Delete guidance comments prior to finalization.]

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties of Agent
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block
Annex A – Specific Powers Checklist
Annex B – Statutory Notice to Principal
Annex C – Acknowledgment by Agent
Annex D – Revocation Form

I. DOCUMENT HEADER

1. Title; Parties; Date
   1.1 This Durable Financial Power of Attorney (this “Power of Attorney”) is executed as of [EFFECTIVE DATE] (the “Effective Date”) by [FULL LEGAL NAME OF PRINCIPAL], whose mailing address is [ADDRESS] (the “Principal”).
   1.2 The Principal designates [FULL LEGAL NAME OF PRIMARY AGENT], whose mailing address is [ADDRESS], as attorney-in-fact/agent (the “Agent”).
   1.3 If the Agent is unwilling or unable to act, the Principal designates [FULL LEGAL NAME OF SUCCESSOR AGENT] as successor agent (the “Successor Agent”).

2. Recitals
   a. The Principal desires to empower the Agent to act with respect to the Principal’s property and financial affairs in accordance with the Utah Uniform [Durable] Power of Attorney Act (the “Utah POA Statute”) and other applicable law.
   b. The Principal intends this Power of Attorney to be durable, meaning it shall not be affected by the Principal’s subsequent incapacity, except as provided herein or by law.

3. Governing Law & Jurisdiction
   This Power of Attorney shall be governed by and construed in accordance with the laws of the State of Utah (“Governing Law”).

II. DEFINITIONS

For purposes of this Power of Attorney, the following capitalized terms have the meanings set forth below. References to statutes include any successor provisions.

“Assets Under Management” means all property subject to the Agent’s authority at any given time.
“Disability” or “Incapacity” means the Principal’s inability to manage property or business affairs as determined under Governing Law.
“Durable” has the meaning assigned by the Utah POA Statute.
“Include,” “Includes,” and “Including” are deemed followed by “without limitation.”
“Limited Arbitration” has the meaning provided in Section VIII.3.
“State Probate Court” means the district court sitting in probate for the county in Utah where venue is proper under Governing Law.

[// GUIDANCE: Add additional defined terms as needed for bespoke transactions.]

III. OPERATIVE PROVISIONS

1. Appointment & Acceptance
   a. The Principal hereby appoints the Agent to act for the Principal with respect to all matters described in this Power of Attorney.
   b. By executing the Acknowledgment in Annex C, the Agent accepts such appointment and agrees to act in accordance with the Utah POA Statute and this instrument.

2. Grant of General Authority
   Subject to Section 3 (Specific Powers) and any limitations in Annex A, the Agent is granted authority co-extensive with the Principal to act in all matters relating to:
   i. Real property;
   ii. Tangible personal property;
   iii. Banks and other financial institutions;
   iv. Securities and commodities;
   v. Insurance and annuities;
   vi. Retirement plans;
   vii. Taxes;
   viii. Personal and family maintenance; and
   ix. Any other matters permitted under the Utah POA Statute.

3. Grant of Specific Powers (Opt-In Required)
   The Principal must affirmatively initial each power in Annex A to confer such power. Any power not initialed is withheld.

4. Effective Date
   This Power of Attorney shall become effective (check one):
   ☐ Upon execution.
   ☐ Upon the Principal’s incapacity, as certified in writing by [ONE/TWO] licensed physicians.
   ☐ On [SPECIFIC DATE OR EVENT].

5. Durability
   Pursuant to the Utah POA Statute, this Power of Attorney shall not terminate upon the Principal’s subsequent incapacity or disability.

6. Limitations on Agent
   a. Hot Powers. The Agent may not create, amend, revoke, or terminate any trust; make a gift; create or change rights of survivorship; or change beneficiary designations unless specifically authorized in Annex A.
   b. Fiduciary Standards. The Agent shall act loyally, in good faith, and within the scope of authority granted herein; keep records; and disclose receipts, disbursements, or transactions upon reasonable request by the Principal, a guardian, or another person authorized under law.

7. Compensation & Reimbursement
   a. The Agent shall be entitled to reasonable compensation consistent with Utah law unless the Principal selects “No Compensation” below:
   ☐ Agent may receive reasonable compensation.
   ☐ Agent shall serve without compensation.
   b. The Agent is entitled to reimbursement for reasonable expenses properly incurred.

IV. REPRESENTATIONS & WARRANTIES OF AGENT

1. Authority & Capacity. The Agent represents that the Agent is at least 18 years old and has full legal capacity to serve.
2. No Conflict. The Agent represents that acceptance of this appointment does not violate any other fiduciary obligation or court order to which the Agent is subject.
3. Knowledge & Skills. The Agent possesses, or will obtain, the skill and prudence reasonably necessary to perform the duties herein.
4. Survival. The representations in this Article IV shall survive acceptance and any termination of the Agent’s service.

V. COVENANTS & RESTRICTIONS

1. Recordkeeping. The Agent shall maintain contemporaneous, complete records of all acts performed and retain such records for at least seven (7) years after termination of the Agent’s authority.
2. Separate Assets. The Agent shall not commingle the Principal’s property with the Agent’s own, except as otherwise permitted by law (e.g., common-fund investments).
3. Notice of Incapacity or Death. The Agent shall promptly notify any interested third parties upon actual knowledge of (i) the Principal’s death or (ii) any adjudication that terminates this Power of Attorney.
4. Cooperation with Court. The Agent shall submit to jurisdiction of the State Probate Court for any accounting or review.

VI. DEFAULT & REMEDIES

1. Events of Default
   The following constitute defaults (“Defaults”):
   a. Breach of fiduciary duty under Governing Law;
   b. Unauthorized self-dealing or misappropriation;
   c. Failure to comply with a demand for records within thirty (30) days;
   d. Any act or omission that would justify removal of a fiduciary under Utah law.

2. Notice & Cure
   a. Any person having standing under the Utah POA Statute may deliver written notice of Default to the Agent.
   b. The Agent shall have fifteen (15) days to cure, if curable, after deemed receipt.

3. Remedies
   a. Suspension or termination of authority;
   b. Accounting, surcharge, restitution, or disgorgement;
   c. Injunctive relief under Section VIII.4;
   d. Recovery of reasonable attorneys’ fees and costs.

VII. RISK ALLOCATION

1. Indemnification by Agent
   The Agent shall indemnify, defend, and hold harmless the Principal and the Principal’s estate from all losses, liabilities, or expenses arising from the Agent’s breach of fiduciary duty, willful misconduct, or gross negligence.

2. Limitation of Agent Liability
   The Agent’s aggregate liability under this Power of Attorney shall not exceed the fair market value of the Assets Under Management at the time the liability arises, except for liability arising from willful misconduct or fraud, for which no cap applies.

3. Force Majeure
   The Agent shall not be liable for failure to act during any period in which performance is prevented by events beyond the Agent’s reasonable control, provided the Agent exercises reasonable diligence to resume performance.

VIII. DISPUTE RESOLUTION

1. Governing Law
   This instrument is governed by the laws of the State of Utah, without regard to conflict-of-laws principles.

2. Forum Selection
   Exclusive jurisdiction for equitable or supervisory proceedings shall lie with the State Probate Court.

3. Limited Arbitration
   a. Monetary claims not exceeding $[ARBITRATION THRESHOLD] shall be resolved by binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules.
   b. Any party may seek provisional injunctive relief from a court of competent jurisdiction pending arbitration.

4. Jury Waiver
   To the fullest extent permitted by Utah law, the parties knowingly waive the right to trial by jury in disputes where such waiver is legally effective.

5. Injunctive Relief
   Nothing herein shall limit the right of the Principal, a Successor Agent, or any person authorized under the Utah POA Statute to seek temporary, preliminary, or permanent injunctive relief for breach of fiduciary duty.

IX. GENERAL PROVISIONS

1. Amendment & Revocation
   a. The Principal may amend or revoke this Power of Attorney at any time by written instrument executed with the same formalities as this Power of Attorney.
   b. The form in Annex D may be used but is not required.

2. Termination
   This Power of Attorney terminates upon the earliest of:
   i. The Principal’s death;
   ii. Revocation under Section IX.1;
   iii. Full resignation and lack of acceptance by any Successor Agent; or
   iv. As otherwise provided by the Utah POA Statute.

3. Assignment; Delegation
   The Agent may not delegate authority except as expressly permitted by Governing Law or this Power of Attorney.

4. Severability
   Any invalid provision shall be severed and the remainder construed to effectuate intent.

5. Integration
   This document constitutes the entire agreement respecting the subject matter and supersedes all prior powers of attorney except those expressly preserved herein.

6. Counterparts; Electronic Signatures
   This instrument may be executed in counterparts and by electronic signatures, each of which is deemed an original.

X. EXECUTION BLOCK

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

State of Utah, County of _
On this ___ day of _, 20__, before me, [NOTARY NAME], a Notary Public in and for said State, personally appeared [PRINCIPAL NAME]*, proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to this instrument, and acknowledged that he/she executed the same for the purposes therein contained.
My Commission Expires: ___
Notary Public Signature: ___
Seal:

[// GUIDANCE: Utah does not require disinterested witnesses for a durable POA, but practitioners often use one or two witnesses for additional evidentiary value. Add witness lines if desired.]

ANNEX A

SPECIFIC POWERS CHECKLIST
(Initial each desired power)

Any power not initialed is withheld.

ANNEX B

STATUTORY NOTICE TO PRINCIPAL
[Utah requires a statutory notice advising the Principal of the nature and effect of a Power of Attorney. Insert the full statutory language here.]

ANNEX C

AGENT’S ACKNOWLEDGMENT
I, [AGENT NAME], have read the Power of Attorney and the Agent’s duties under the Utah POA Statute. I understand and accept those duties.

Signature: ____
Date: ________

ANNEX D

FORM OF REVOCATION

I, [PRINCIPAL NAME], hereby revoke the Durable Financial Power of Attorney dated [DATE] appointing [AGENT NAME] as Agent.

Signature: ____
Date: ________

Deliver notice of this revocation to the Agent and to all persons or entities that rely on the original Power of Attorney.

[// GUIDANCE:
1. Filing/Recording – Utah generally does not require recording unless the POA will be used to convey real property; if so, record in the office of the county recorder where the property is located.
2. Digital Assets – Consider incorporating federal Stored Communications Act consent language if access to email or cloud accounts is required.
3. Tax-Sensitive Gifts – Coordinate with estate-planning counsel to ensure compliance with I.R.C. § 2503(b) and UT gift-tax considerations.
4. Banking Institutions – Some banks require use of their internal POA forms; obtain pre-acceptance where possible.
5. Incapacity Determinations – For “springing” POAs, specify physicians by name or specialty to reduce disputes.
]