Durable Power of Attorney Alabama Form – PDF – Word
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Loading...In the State of Alabama, one can choose to have the financial power of attorney take effect immediately upon signing, in which case, the principal must specify that the agreement is “durable.” Otherwise, it ends immediately when a physician certifies that the individual has become incapacitated.
The durable power of attorney ends when the individual dies or, if competent, when he or she revokes the document. It also can end on divorce if the spouse is the Attorney-In-Fact. In rare cases, a court of law can invalidate the agreement.
All decisions made on behalf of the assigned agent must be to the sole benefit of the Principal in regards to:
- Filing taxes
- Buying and selling real estate
- Loans created
- Payment of bills
In order for the form to be considered legal it must be signed by all parties in front of a notary public.
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