A power of attorney is a legal document that allows you to designate a trusted person to manage your financial and legal affairs. This tool provides a clear framework for decision-making if you are unable to act for yourself. By creating a power of attorney, you authorize another individual to handle specific responsibilities on your behalf.
What is a Power of Attorney in Connecticut
A power of attorney in Connecticut is a legal instrument governed by state law, specifically the Connecticut Uniform Power of Attorney Act.1General Assembly of Connecticut. Chapter 15c – Connecticut Uniform Power of Attorney Act This document establishes a legal relationship between two parties: the “principal,” who is the person granting the authority, and the “agent” or “attorney-in-fact,” who is the person receiving the authority to act. The agent steps into the principal’s shoes for the purposes outlined in the document.
Connecticut residents often use a power of attorney to ensure their financial affairs can be managed if they are traveling, become ill, or face potential future incapacity. It provides a private, flexible way to delegate authority for tasks like banking, real estate transactions, and paying bills without court intervention.
Common Types of Power of Attorney in Connecticut
Connecticut law recognizes several types of power of attorney documents. A durable power of attorney is one of the most common, as it remains effective even if the principal becomes incapacitated. Under state law, any power of attorney created after October 1, 2016, is automatically durable unless the document explicitly states otherwise.
In contrast, a non-durable power of attorney terminates automatically if the principal loses mental capacity. A “springing” power of attorney becomes effective only upon the occurrence of a specific event detailed in the document, such as a physician certifying the principal’s incapacity. You can also create a general power of attorney, which grants the agent broad authority, or a limited power of attorney, which restricts the agent’s powers to a specific task for a defined period.
Information and Decisions Needed to Prepare a Power of Attorney
You will need the full legal names and addresses for yourself, your chosen agent, and at least one successor agent who can serve if your primary choice is unavailable. You must also decide the scope of the powers you wish to grant.
Connecticut’s statutory forms list various powers, such as managing bank accounts, handling real estate, or dealing with investments, which you can approve or withhold by initialing each one.2Justia. Connecticut General Statutes § 1-352 (2024) – Power of Attorney Short Form, Long Form and Optional Information Form Further decisions include when the document becomes effective—either immediately or upon a future event—and whether your agent will receive compensation for their services.3Justia. Connecticut General Statutes § 1-350k (2024) – Reimbursement and Compensation of Agent Using the state’s statutory form helps ensure compliance with legal requirements.
Executing Your Connecticut Power of Attorney
The principal is required to sign the document, and this signature must be attested to by two witnesses.4Justia. Connecticut General Statutes § 1-350d (2024) – Execution of Power of Attorney These witnesses must be mentally competent and cannot be the person named as the agent.
While not strictly required for the document to be valid, it is highly recommended that the principal’s signature be acknowledged by a notary public. Under Connecticut law, a notarized signature is presumed to be genuine, and many financial institutions will not accept a power of attorney that has not been notarized.
After this formal execution, you should provide copies to your agent and relevant financial institutions, and store the original document in a safe yet accessible location. For transactions involving real estate, the power of attorney must be recorded with the local land records office.5Justia. Connecticut General Statutes § 47-5 (2024) – Requirements re Conveyances of Land
Agent’s Duties Under Connecticut Law
An agent acting under a power of attorney in Connecticut has legal responsibilities, known as fiduciary duties. The agent must act in the principal’s best interest, with loyalty, care, competence, and diligence.
Specific duties include acting only within the scope of authority granted in the document, keeping the principal’s property separate from their own, and maintaining detailed records of all transactions made on the principal’s behalf.6Justia. Connecticut General Statutes § 1-350m (2022) – Agent’s Duties The agent is also required to cooperate with anyone authorized to make healthcare decisions for the principal. Breaching these duties can lead to liability for any mismanagement or harm caused to the principal’s assets.
Changing or Ending a Power of Attorney in Connecticut
A principal who is legally competent can change or end a power of attorney at any time. The standard method is to create a formal written document called a “Revocation of Power of Attorney.” This revocation document should be executed with the same formalities as the original power of attorney. It is important to provide written notice of the revocation to the former agent and any third parties, like banks, who may have a copy.
Executing a new power of attorney does not automatically revoke a previous one unless the new document explicitly states so. A power of attorney also terminates automatically upon certain events, such as the principal’s death, if the purpose of the document is accomplished, or by a court order.7Justia. Connecticut General Statutes § 1-350i (2018) – Termination of Power of Attorney or Agent’s Authority Connecticut law also notes that a power of attorney may be affected if the agent is the principal’s spouse and they divorce.