An Oregon power of attorney document is a legal instrument that grants individuals the powers to appoint someone to stand in for them when they are unavailable or incapacitated to make certain decisions for themselves. Regardless of the type, this power of attorney is usually revoked immediately upon the demise of the principal.
The agent is bound by the dictates of this legal document to represent the principal’s best interests. This article reveals a lot more about an Oregon power of attorney.
What Is an Oregon Power of Attorney?
The laws governing the power of attorney Oregon are contained in Chapter 127 of the Oregon Revised Statutes. In some cases, the principal may stipulate that the proxy, or attorney-in-fact assumes control over the principal’s financial, legal or medical matters beyond the point where he’s incapacitated or disabled in any way (durable power of attorney).
Some other times, the powers of the agent are revoked as soon as the principal no longer has a sound sense of judgment or becomes physically incapacitated (durable power of attorney). Other types of power of attorney Oregon are medical power of attorney and springing power of attorney.
Unless given an ending date, the laws of the state assume that the Oregon power of attorney is durable. Most often than not, the powers of the agent become effective immediately the power of attorney form Oregon is signed in accordance with the provisions of the law.
What to Include in an Oregon Power of Attorney?
All Oregon power of attorney forms must contain the following:
- Title of form
- Date when the form was signed
- Contact information of all signatories to the form
- Signatures of principal and agent(s)
- Special instructions highlighting specific powers granted to the agent, as well as limitations of such powers
- Name and contact information of alternate agents, if any.
Why It Is Important to Use The Oregon Power of Attorney?
People should consider signing an Oregon power of attorney document if they:
- wish to give someone broad authorization to act in their name on several matters whenever they are absent or are incapable.
- need someone to represent them on particular matters they have no professional knowledge about, say tax-related or real estate transactions
- work in a high-risk environment
- are travelling out of the country for a while and need someone to make medical decisions for a dependent who is a minor
- are prone to medical illnesses like dementia or Alzheimer’s.
Oregon Power of Attorney Requirements
There are no particular laws about signing in Oregon other than that the signing be acknowledged by a notary public. According to the dictates of the law, an Oregon power of attorney form does not become valid unless signed in the presence of a notary public or signed by at least two witnesses. These witnesses must also have attained the legal age of 18 years old.
In the case of a durable power of attorney, a principal is not regarded as incapacitated unless otherwise proven by a certified physician. This medical professional should state verbally that the principal can no longer make decisions on his/her own.
Chapter 127 of Oregon Laws explicitly states that:
- The power of attorney becomes effective upon signing and remains valid till it is revoked by the principal
- The agent’s powers remain valid even after the principal is declared financially incapable; and
- The agent’s powers remain unaffected by the passage of time.
By being unaffected by the passage of time, the law recognizes the validity of the agent’s powers regardless of how long ago the document was created. In other words, a bank, for example, cannot refuse an agent the rights to act in the name of the principal because the document was created some forty years ago.
How to revoke power of attorney in Oregon?
A principal can revoke a power of attorney anytime deemed fit. This revocation becomes effective once the principals:
- Authorize a new durable power of attorney form; or
- Authorize a power of attorney revocation form
How to obtain a power of attorney?
A principal may obtain a power of attorney from an Oregon Bar or from an online website. A reputable platform like CocoSign for example offers several power of attorney forms for Oregon one can choose from.
Regardless of the source, once the form reflects all the thoughts of the principal and is executed according to the provisions of the law, it is considered effective.
There are so many power of attorney forms online these days. But how many of them are in correspondence with Oregon Revised Statutes. On CocoSign, you not only find forms created in accordance with the laws of the state, but those with provisions for the peculiar needs of the principal.
CocoSign represents a wide collection of legal templates covering all types of leases, contracts and agreements for personal and commercial use. All legal templates available on CocoSign shall not be considered as attorney-client advice. Meanwhile, CocoSign shall not be responsible for the examination or evaluation of reviews, recommendations, services, etc. posted by parties other than CocoSign itself on its platform.