Oregon General (Financial) Power of Attorney Form
The Oregon General (Financial) Power of Attorney is a contract that clarifies how an Agent should act when they are representing a Principal to complete financial transaction/s on their behalf. The Principal and Agent should both recognize that due to the provisions regarding the “general” nature of this Power of Attorney, any authority and decision making powers that have been bestowed to the Agent will be stripped away if the Principal one day enters into a state of incapacity. Until such circumstances arise (that is, if they ever do), the Agent will be legally empowered to act on the Principal’s behalf insofar as the contact provides or until the Principal revokes the contract.
State Laws & Signing Requirements
State Laws – Powers of Attorney
Signing Requirements (§ 127.005) – Oregon state law does not stipulate any signing requirements for a Power of Attorney to be effective. It is therefore recommended that any Principal to a Power of Attorney:
- Signs the Power of Attorney,
- Organizes for a Notary Public to acknowledge their signature, and
- Organizes for two (2) disinterested witnesses to witness the signature.