The Alaska durable financial power of attorney form, also known as the Statutory Power of Attorney Form (Text version found in AS 13.26.332) allows for a person who lives in the State, known as the ‘Principal’, to choose someone else to act in their benefit for any type of financial purpose, this individual is known as the ‘Agent’. The agent must always be looking in the best interest of the principal and, although not required, should have an idea of the principal’s business arrangements and strategies.
Durable vs Non-Durable
The durable form, under AS 13.26.350, allows for the agent to remain acting for the principal even in the event where the principal may become incapacitated or incompetent in making decisions on their own. This label will usually be provided by a medical physician and from that point on all decisions made on behalf of the principal’s financial affairs shall only be made by the selected agent.
How to Write
Step 1 – Download the Form:
Step 2 – Open the document or print to begin filling-in the required information. The first part of the document should contain the following:
- Name and Address of Principal
- Name and Address of Agent(s)
- Review Powers being handed over; If the principal does not agree he/she should strike a line through the power and initial
- Select the best durable power of attorney option that fits
- Select if you have written an Alaska Advance Health Care Directive
- Fill-in any alternate agents
Step 3 – As the State treats this document very seriously it must be signed in the presence of a notary public. This can be found using a notary public directory or by going into any branch bank in the United States.
After the form has been completed and signed it should be kept in a safe and accessible place by the agent in the chance it needs to be shown when preforming acts on behalf of the principal.