Oregon Durable (Financial) Power of Attorney Form

The Oregon Durable (Financial) Power of Attorney requires a written assignment to permit another person to handle designated areas of the principal party’s property, tax, and/or legal matters. A “durable” contract provides additional coverage of the arrangement to extend beyond the potential incapacitation of the declarant.

Last updated September 21st, 2024

Laws

Statute – Oregon Revised Statutes Title 13, Chapter 127 – Powers of Attorney (127.002 – 127.045)

Definitions – “When a principal designates another person as an agent by a power of attorney in writing, and the power of attorney does not contain words that otherwise delay or limit the period of time of its effectiveness:

(a) The power of attorney becomes effective when executed and remains in effect until the power is revoked by the principal;

(b) The powers of the agent are unaffected by the passage of time; and

(c) The powers of the agent are exercisable by the agent on behalf of the principal even though the principal becomes financially incapable”

(§ 127.005(1)).

Signing Requirements – Acknowledgement not specified within state legislation, although it is suggested to have a commissioned notary on-site to witness the event.