Texas Durable Power of Attorney Form

Sometimes people face specific situations full of grief and sadness where they get into a severe accident or have an illness that leads to the incapability of making decisions. In such cases, a person cannot provide decisions regarding their finances and various operations, and it would be best if the person appoints their representative, or an agent, who can be responsible for dealing with monetary issues.

The Durable Power of Attorney Form, or DPOA, in Texas and other American states, is a document that helps to appoint such agents. The form should contain the principal’s name, the agent’s name, the agent’s powers, and, in some states, the notary verification.

The form is called “durable” for a reason: it is effective until a principal either dies or revokes the document. It is vital to mention that there are various “power of attorney” forms, and every signatory shall pay attention to the form’s purpose when creating and signing it. DPOA is all about financial matters, while other papers (like medical power of attorney forms) allow one to designate someone who takes care of medical decisions, for example.

Each state normally has its own regulations, not only for DPOA but for other legal templates. In this review, we will outline the basics of the above-mentioned document in the state of Texas.

Texas DPOA Signing Requirements and Laws

As you already know, usually, there are specific requirements and laws applicable to legal forms in each state.

Here are certain rules one shall follow when making a DPOA in Texas so that the form is correct.

• Before you start creating your form, remember to check the laws written in Texas Statutes, sections from 751.001 to 751.251 and from 752.001 to 752.115. There, you will find all you need to know about the document in the state.
• Please note the importance of section 751.0021 of the Statutes, where you will get all the requirements for the DPOA in Texas. If you do not follow these, your paper will be invalid. In section 751.0021(3), you will see the phrases you should use in the template: it is mandatory, according to the law. Do not omit these sections and requirements.
• To make it easier for signatories, the Texas Statutes offer a template you can use to create your own document. It is included in section 752.051. As is written in this template, you should sign the form by yourself; no witnesses are needed to make the document effective.
• However, do not forget to ask a notary to sign your form; it is obligatory in Texas. The form must be dated, too.

What Powers Can an Agent Obtain Under a DPOA in Texas?

There is a standard list of powers that a principal can transfer to their agent by signing a DPOA in Texas or other states. Typically, the list includes the following issues:

• Transactions related to stocks and bonds
• Various business operations
• Tax issues
• Real estate matters
• Banking operations
• Transactions tied to other financial institutions (besides banks)
• Operations related to insurance and annuity
• Litigation and claims
• Commodity and option operations
• Transactions regarding retirement plans
• Maintenance (family and personal)
• Operations with the tangible personal property
• Governmental benefits (from social security or programs like Medicaid or Medicare, and so on)
• Transactions with estate or trust (or other beneficiary operations)
• All possible digital assets-related operations.

Normally, the list’s last point lets a signatory opt for all the points above. This can be done only if you fully trust your agent and do not mind them dealing with all the matters.

You can also avoid the risks of abusing all the powers you grant. In the form, you will see the empty lines where you can specify what your agent can or cannot do and set some limitations regarding each matter chosen.

Remember to include all special instructions you want to include so that your agent follows your will thoroughly. If they violate the rules set by you, they will be punished in accordance with the local and federal laws of the United States and the state of Texas.

When a Texas DPOA Can Lose Its Power

As we have mentioned above, the form is valid until the principal’s death or their decision to cancel the document. If a principal decides to revoke the form, they should create a revocation form together with a notary and sign it.

The form shall include the previous agent’s name, the principal’s name, and the date when revocation becomes effective. The form is valid only if signed by both the principal and the notary.

However, there are cases when the principal is incapable of decision-making anymore. Still, the selected agent conducts fraudulent actions with the principal’s estate or business (or any other matter stated in the form). If such fraud occurs, the third party who suspects problems may speak to the principal (if they are awake and in sound mind), appeal to the agent, and then apply to the court to revoke the form.