 | Colorado General Financial Power of Attorney Form |
The Colorado general financial power of attorney form is a document also known as a General Power of Attorney or a General Power of Attorney for Property. This document, when provided by the Principal gives an agent authority to manage your finances and property, and to transact business on your behalf. The agent has the obligation to make decisions based upon your preferences and the authority granted in the document. An agent may not override your wishes. In general, the agent has authority to do whatever you would do, for example, withdraw funds from bank accounts, trade stock, pay bills, cash checks as expressly limited in the power of attorney. When transacting business on your behalf, the agent must use your finances as you would use them. As of January 1, 2010 all Colorado powers of attorney are durable. They may also be revoked at any time as long as the Principal is competent to do so. (See C.R.S. §§. 15-14-701)
Step 1 – Download the document and begin by reviewing all of the information and definition of terms on page one to better educate yourself as Principal of this document with regard to what you and your agent(s) should expect.
Step 2 – Appointment of Attorney in Fact/Agent – The Principal must begin by providing the following information for the record –
- Principal –
- Name of Principal
- Physical Street Address of Principal
- City
- State
- Attorney in Fact –
- Name of Attorney-in-Fact
- Physical Street Address of Attorney-in-Fact
- City
- State
- Enter the name of the state the power of attorney will be created in
Step 3 – (Optional) Naming Successor Attorney In Fact/Agent, in the event the original Attorney In Fact becomes unwilling or unable to serve –
- Name of Successor Attorney-in-Fact
- Physical Street Address of Successor Attorney-in-Fact
- City
- State
- Enter the name of the state the power of attorney will be created in
Step 4 – The Principal and their Attorney(s) In Fact, should read the information at the end of page two and the beginning of page 3 before retaining a notary public and signing the document – Once you’ve read the information, provide the following information –
- Printed name of the Principal
- Date the document is being signed dd/mm
- Principal’s signature
- AND
- Print Name of Attorney In Fact
- Signature for Attorney In Fact
- Date of signature
- AND
- Print Name of Successor Attorney In Fact
- Signature of Successor Attorney In Fact
- Date of signature
Step 5 – Notarization – The next section will be completed by the notary public. They will then affix their state seal.
Step 6 – Acceptance of appointment of Attorney In Fact and Successor – Each must read their respective paragraphs and complete the lines within as follows:
- Print Name of Attorney In Fact
- Signature for Attorney In Fact
- Date of signature
- AND
- Print Name of Successor Attorney In Fact
- Signature of Successor Attorney In Fact
- Date of signature
Step 7 – Once the notary has returned the document to the Principal, make copies for the records of all named on this document.
- Provide copies also, to any financial institution that may require this information.
- This form may be revoked at any time as long as the principal is competent to do so.
