A power of attorney is a legal document that lets you (the principal) name another person (the agent or attorney-in-fact) to make decisions on your behalf. When your agent uses your power of attorney, their actions and decisions will be legally binding on you.

In Oklahoma, powers of attorney can be used to manage financial affairs, real estate, and personal matters. You can use a power of attorney for health care, but you also can use a different document called an advance directive or health care directive to appoint a proxy to make health care decisions for you.

If you want your agent to act while you are incapacitated, you need what is called a durable power of attorney. A durable power of attorney must include one of the following phrases, or similar language:

• • This power of attorney shall not be affected by subsequent disability, incapacity, or extended absence of the principal, or lapse of time.

• • This power of attorney shall become effective upon the disability, incapacity, or extended absence of the principal.

If you use the second phrase, you will have a springing power of attorney. Unlike most powers of attorney, a springing power of attorney does not become effective until a future or date or event, such as your incapacity.

An agent should be someone you trust because they will have access to your bank accounts and property. An agent also should understand your wishes and instructions and be willing to follow them. They should be comfortable filling out forms and speaking with financial institutions and legal professionals.

If you want your power of attorney to remain effective when your first choice is unable or unwilling to serve, you also should choose one or more successor agents to take over as agent.

You can create a general power of attorney to give your agent broad powers to do almost every act you could do for yourself. You also can make a limited power of attorney to give them specific authority to handle one transaction or type of transaction.

An agent who will act when you are incapacitated should have the flexibility to handle unexpected situations. If you limit their power too much, they might not be able to act, and a court might need to get involved.

In Oklahoma, you should sign your financial power of attorney with two adult witnesses present and have it notarized by a notary public. The witnesses cannot be your agent, your family member, or your agent’s family member.

You should give your financial power of attorney to your agent, so they can prove they have the authority to act on your behalf. You also should keep a copy of your power of attorney in a safe place where you can easily access it.

If you desire, you can give copies to trusted friends and family and to businesses your agent will deal with.