Free Colorado Durable Power of Attorney Forms
In Colorado, durable power of attorney (POA) is an important legal document that allows a person, known as the agent, to make decisions on behalf of another, known as the principal. But unlike most POAs, the durable document allows the agent to continue exercising their authority even when the principal becomes incapacitated.
Colorado Durable Power of Attorney Laws
Colorado Revised Statutes 2017 Title 15, Part 7: Uniform Power of Attorney Act - The law dictates how powers of attorney are created, signed, and implemented in Colorado. The law defines the document as follows: “Durable, with respect to a power of attorney, means not terminated by the principal's incapacity” (Colorado Revised Statutes §15-14-702).
Signing Requirements in Colorado
The principal must sign the form in front of a notary public to make it legal in Colorado. “A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments” (Colorado Revised Statutes § 15-14-705).
How To Write a Durable POA in Colorado
A person who has personal, business, legal, and financial affairs that would be at risk when interrupted needs to sign a durable POA in Colorado. Here are the steps to writing a durable POA:
1. Appoint an Agent
The agent acts as your proxy in various business, legal, and financial dealings when armed with a durable POA. So, it is important that you appoint someone you trust with your business, finances, and properties. Many would choose a family member as an agent. It could be the spouse, child, or sibling. But choosing a child or sibling over other children or siblings may cause a rift among family members, which is why many also choose someone who is not related by blood.
The choice is yours to make, but it’s best to weigh your options before making the final pick. It could help ensure that business and other financial affairs will not be disrupted if the time comes when the principal becomes mentally incompetent.
2. Discuss Responsibilities and Compensation
You can make the responsibilities of an agent as broad or as specific as you want them to be. Among their potential responsibilities are keeping records, signing documents, managing assets and properties, and filing tax returns, among many others. However, an agent cannot make healthcare decisions as there is a separate document for it.
Agents who are family members don’t usually get compensation, but it can be included in a durable POA. An agent is also allowed to be refunded for expenses incurred (such as transportation and food) while doing their duty.
3. Download a Printable Colorado Power of Attorney Form
You can get a Colorado attorney to make the POA for you, but you can also download a printable form online. The latter is more convenient as you only need to fill the template with the details relevant to your situation. You can enumerate the responsibilities of the agent to ensure all your wishes are followed.
4. Sign the Document
You must sign the document in front of a notary public so it will be legal in Colorado. If a notary public is not available, it must be signed before someone who is legally recognized to make such acknowledgments. If you cannot sign the POA physically, you can ask someone to do it on your behalf as long as consent is shown in front of the notary public.
5. Use the Durable Power of Attorney in Colorado
The POA serves as written permission for the agent to make decisions on your behalf. They need to present the document every time a major business or financial transaction is made.