Oklahoma power of attorney forms allow the designation of an individual (the “agent”) to make financial or medical decisions on someone else’s behalf. Each form serves a different purpose and comes with its own restrictions and obligations. What the forms have in common is the fact that they allow the principal to transfer power to a trusted representative to act on their behalf. In some cases, these powers will continue even if the principal becomes incapacitated. This durable type of form can protect the principal’s personal assets and business affairs from falling into the wrong hands. Whether the principal chooses a durable power of attorney or not, they should carefully consider who they name as their attorney-in-fact.
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An Oklahoma durable power of attorney directs an attorney-in-fact to represent the principal indefinitely in all personal and/or business-related financial matters. The form provided will come into effect immediately upon execution and will remain valid until the principal chooses to revoke it, as long as they are competent. If the principal becomes incapacitated, the form continues to be binding. For the purposes of security and…
