Pennsylvania Durable Financial Power of Attorney Form

The Pennsylvania durable financial power of attorney form is a legal document that whereas a Principal is allowed someone of their choice to serve as their Agent in the event of illness or absence. The powers with this document may be what is considered “broad and sweeping,” meaning that unless the document is carefully constructed by  the Principal, the Agent, with no permission from the Principal, may spend their money, sell their property, both personal and real property. This situation can significantly reduce the Principal’s estate.

It’s recommended that the Principal, while of sound mind, read the document carefully. If the language for any reason, is unclear to the Principal, may choose to arrange a consultation with a knowledgeable attorney, to ensure that they are clear as to how to protect themselves and their estate. Understanding of the contents of this document will be vital. With this document, the Agent will not have the ability to ever make any health care decisions on behalf of the Principal.

This document will require signatures of two witnesses and must be acknowledged by a Notary Public. All signatories must be present prior to application of signatures. The Principal must be aware that they may revoke this document at any time, by placing notice in writing, having it notarized and having it delivered or served to the Agent and any others who may hold a copy of the document, to ensure that any financial institutions, merchants, Doctors or anyone else, so that  they will know, not to any longer honor the document, should it be revoked.

How to Write

Step 1 – Notice – The Principal must carefully review the first page of this document. Once it’s been reviewed and the Principal feels they understand the contents:

  • Date the signature in mm/dd/yyyy format
  • Enter the Principal’s Signature
  • Enter the Printed name of the Principal

Step 2 – Delegation of Agent – The Principal enter the following:

  • The Principal’s name and complete address
  • The Principal must enter the name and address of their selected Agent

Step 3 – Granting of Powers – Each of the powers in this document provide a more extensive explanation of their definitions. Read them carefully, especially if the Principal has elected not to contact an attorney prior to completion. Read each of the following titles, initial those that you wish to grant to your Agent. If you wish to grant all powers, simply initial “N” and you need not initial any other lines. Otherwise, initial any of the powers you would like to grant, in the powers you will not grant, place an “X” in those lines.

  • (A) Real property transactions
  • (B) Tangible personal property transactions
  • (C) Stock and bond transactions
  • (D) Commodity and option transactions
  • (E) Banking and other financial institution transactions
  • (F) Business operating transactions
  • (G) Insurance and annuity transactions
  • (H) Estate, trust, and other beneficiary transactions
  • (I) Claims and litigation
  • (J) Personal and family maintenance
  • (K) Benefits from Social Security, Medicare, Medicaid, or other governmental programs, or military service
  • (L) Retirement plan transactions
  • (M) Tax matters
  • (N) All of the Powers listed above –

Special Instructions – The Principal may provide special instructions in the lines provided, that would limit, restrict or expand the powers allowed to the Agent by the Principal – 

The Principal must carefully read the statements in this section also review:

  • Authority to Delegate
  • Right to Compensation
  • Successor Agent (Optional -In the event the initial agent is unable or unwilling to act on behalf of the Principal – they may choose to name Successor/Alternate Agents)
  • Choice of Law
  • After reading the titled areas – Date the information in dd/mm/yyyy format
  • Provide the Principal’s Signature

Step 4 – Statement of Witnesses – The witnesses must read the statement. If in agreement, each respective witness must provide the following:

  • Signatures of Witnesses
  • Printed or typed names of witnesses
  • Complete addresses of witnesses

Notarization –

Once the notary has reviewed the document and witnessed all signatures, the notary will then enter all of their required information acknowledging the validity of the document

Step 5 – Acknowledgement of Agent Acceptance – The Agent must read the information in this section –

  • Print the name of the Agent
  • Submit Agent’s Signature
  • Agent’s Printed Name
  • Date the signature in mm/dd/yyyy format

Step 6 – Preparation Statement – The person who has prepared this document, Principal or otherwise, must provide the following:

  • Printed or Typed Name
  • Signature