The Colorado durable power of attorney is a document one person, called the principal, uses to authorize another person, called the attorney-in-fact or the agent, to represent their interests and act on their behalf.
The main feature of a durable power of attorney (DPOA) is that it remains valid (durable) even if the principal loses the capacity to make decisions.
The principal uses the power of attorney in any situation where they are not able to represent themselves. This can be due to their disability, physical or mental illness, like dementia or Alzheimer’s disease, or simply because they are not located in the place where they need to take a certain action.
Durable Power of Attorney Laws & Requirements in Colorado
Laws & Requirements
Signing requirements: In Colorado, the durable power of attorney must be acknowledged by the notary public. (§ 15-14-705)
Statutory form: Colorado Revised Statutes, § 15-14-741 provides the statutory form of the power of attorney.
“Durable” definition: According to the Colorado Revised Statute, § 15-14-702(2), “Durable” with respect to a power of attorney means not terminated by the principal’s incapacity.
How to Fill out a Durable Power of Attorney in Colorado
#1. Designate an Agent
Firstly, you should provide the basic details about you as the principal and the person you wish to authorize as your agent. This includes the first and last name and mailing address.
If necessary, you can also provide the agent’s ID or professional license number.
You should also name the successor agent in your durable power of attorney. The successor agent is the person who will represent you if the primary agent is no longer capable or willing to represent your interests.
#2. Grant Authority
After providing the details about the principal and the agent, you should determine the scope of authority the agent will have. You can also provide a list of third parties the agent is authorized to interact with on behalf of the principal.
You can set the agent’s scope of authority in three different ways:
Scope of Authority
General authority. This option enables the agent to take any necessary action on behalf of the principal and interact with all third parties. In this way, the agent has the same scope of authority as the principal.
Partial authority. Here, you can explicitly provide what activities the agent can take (making financial decisions, signing contracts, making purchases, etc.). You can do so by signing your initials before the authority provided in the durable power of attorney form you want your agent to have.
Special authority. With this option, you define the scope of authority by stating what specific actions the agent can take on your behalf. Here, you can also write the names of all the third parties the agent can interact with.
#3. Ensure the Form is Durable
In Colorado, every power of attorney created after 2010 is considered durable. If you wish your power of attorney to be non-durable, you have to explicitly state so in your power of attorney.
#4. Sign the Form
The principal must sign the finalized power of attorney after all the sections in the durable power of attorney form are filled out.
#5. Notarize the Form
Finally, the notary public must acknowledge the principal's signature and confirm the authenticity of the document.
#6. Store Your Durable Power of Attorney Form
After completing and notarizing your power of attorney, you should keep it in your possession and store it safely. You can issue one copy of the document to the agent and any third parties the agent will be interacting with on your behalf.
How to Revoke a Durable Power of Attorney in Colorado
The best way to revoke a durable power of attorney is to issue a revocation letter. In this letter, you will state the name of the agent and details about the power of attorney you wish to revoke.
After completing and signing the revocation letter, you should send a copy to the agent and any third party they are interacting with as your agent so all the stakeholders will be familiar with this fact.
A power of attorney revocation usually happens due to bad family relations, divorce, or if the purpose for which the durable power of attorney was issued no longer exists.