Oregon Financial Power of Attorney Form
People often think of wills, trusts, and retirement plans when planning for their future and their loved ones’ well-being. A power of attorney is an afterthought for many people, but it is one of the most important estate planning tools you can use. FindLaw provides low-cost power of attorney forms that can be completed at your convenience. Use our guided process to customize, print, and sign your legally-valid document, fast!
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Do I Really Need a Financial Power of Attorney in Oregon?
A financial power of attorney lets you choose a person to manage your financial affairs, pay your bills, and care for your property. If you do not have one when you become incapacitated, an Oregon court likely will intervene and appoint a guardian and conservator for you.
A court may appoint someone who does not understand your beliefs or how you want your finances managed. The court process can be expensive and time-consuming. It also can cause additional stress for your loved ones and potential arguments between family members.
You also might need a power of attorney when you are healthy. For example, you might want to give a financial advisor the legal authority to manage your investments, or you might need someone to handle a transaction for you if you are out of state.
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Oregon Financial Power of Attorney Options
Financial Power of Attorney
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How It Works
The process takes less than an hour, and you can complete it from the comfort of your home.
Answer Some Questions
Decide who your agent will be and what authority you want them to have. Then, simply answer a few questions.
Create an Account
Creating an account is easy, quick, and secure. Save your information as you go and return when you have time.
Complete Your Document
Once you answer the relevant questions, we do the hard part and create your unique document.
Print, Sign & Make It Legal
Print and sign your document following the instructions. This may include signing in front of witnesses or a notary.
How To Get an Oregon Power of Attorney
Understand how a POA works in Oregon
A power of attorney is a legal document. It allows one person (the principal) to give another person (the agent or attorney-in-fact) the legal authority to make decisions and act on the principal’s behalf. When your agent uses your power of attorney, their actions and decisions will be legally binding on you. Learn the different types of powers of attorney in our FAQ below.
Powers of attorney in Oregon are limited to finances, property, and personal affairs. If you want someone to make health care decisions for you, you will need to create an advance directive to name a health care representative.
Select an agent
When choosing an agent, you must choose someone you trust because your agent’s actions will be legally binding on you. If you use a general power of attorney, your agent will have broad authority to access your bank accounts and property. They should be responsible with money and property and comfortable interacting with financial institutions.
If you want your power of attorney to be effective when you are incapacitated, you should designate one or more successor agents. A successor agent will take over if the previous agent cannot serve.
Give authority to your agent
When filling out your form, you need to decide how much power to give your agent. Be careful not to limit you agent’s powers too much if you want them to act when you are incapacitated. Giving your agent broad and flexible authority will help them deal with unexpected circumstances.
Sign your power of attorney document
Unlike many states, Oregon does not require you to use witnesses or use a notary public. However, you should sign and date your power of attorney and ask a notary public to notarize it. A notarized document carries more weight with banks and other businesses, so your agent will have an easier time proving they have authority to act on your behalf if it is notarized.
Store it in a safe place and give copies to necessary parties
After you sign your power of attorney, give it to your agent and store a copy in safe place. You can give copies to businesses and banks that will deal with your agent. However, if you later revoke your power of attorney, you should let them know that your agent no longer has authority to act for you.
You May Want to Speak With a Lawyer if:
- You don’t know who to choose as your agent
- You want to use a POA for Medicaid planning
- You want to discuss which powers you should give your agent
- You want legal review of your completed power of attorney
Ready to get started on your financial power of attorney? It’s free to start.
Create My FormOregon Financial Power of Attorney FAQ
In Oregon, there are different types of powers of attorney you should know about:
- General power of attorney: Gives your agent broad authority
- Limited power of attorney: Gives your agent limited authority to do a specific act or handle one type of transaction
- Durable power of attorney: Stays in effect when you are incapacitated
- Nondurable power of attorney: Terminates when you are incapacitated
- Springing power of attorney: Only becomes effective on a specific date or when a future event, such as incapacity, happens
Oregon estate planning attorneys often charge a flat fee per document, but some may charge an hourly rate. Attorneys rarely list their rates online, so you will have to shop around if you want to use an attorney.
A lower-cost option is to use a power of attorney form from a reputable source like FindLaw. FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney; if you have questions after you complete your form, you can hire an attorney to review it. Attorneys often will charge less to review a document.
You can find free power of attorney forms online, but many of these are not tailored to a specific state’s laws. Even if it says it is an Oregon power of attorney, it might not comply with current Oregon law. It is safer to use a form from a reliable site that updates its forms when laws change.
You do not need a lawyer to make a power of attorney in Oregon. You can use an easy-to-complete form like the one FindLaw offers if you know who your agent will be and what powers you want to give them.
However, if you have a complicated family situation or have legal questions, you can ask an Oregon estate planning attorney for legal advice. An attorney can review your form or draft a power of attorney for you.
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