The Oklahoma power of attorney allows one person, the principal, to authorize another person, the agent, to represent the principal in legal, financial, medical, or other matters.
The Oklahoma power of attorney includes the following elements:
Name, address, and ID number of the principal and agent
Scope of authority of the agent
List of the third parties with whom the agent is allowed to interact
Limitations to the authority of the agent
Term of the power of attorney
When the document becomes effective
Date and signature section
Based on the factors above, the agent chooses a different type of Oklahoma power of attorney.
Types of Power of Attorney in Oklahoma
Oklahoma Durable (Statutory) Power of Attorney Requirements
The statutory power of attorney is a document that remains effective even if the principal loses the capacity to make their own decisions. This could be due to old age, physical or mental illness, or other reasons.
Oklahoma General (Financial) Power of Attorney Requirements
If you wish to authorize your agent to represent you before all third parties and take all the necessary actions that are in your favor, you should issue a general power of attorney. Considering that you are delegating broad authorization to the agent, you should choose a trustworthy person to represent you.
Oklahoma Limited (Special) Power of Attorney Requirements
The limited power of attorney provides a limited number of authorities for the agent and a list of third parties they are allowed to interact with on behalf of the principal. The document is usually set to terminate automatically after the agent completes the actions they are authorized to take.
Oklahoma Parental (Minors) Power of Attorney Requirements
In Ohio, the parent or guardian of a child can use the parental power of attorney to authorize another person to make decisions regarding the child's education, healthcare, and more. This type of power of attorney can be effective for a maximum of 1 year and can be revoked at any time.
Oklahoma Medical Power of Attorney Requirements
The principal can use the medical power of attorney to grant authority to another person to make decisions about the principal’s healthcare. When signing the Oklahoma medical bill of sale, at least two witnesses must be present and acknowledge the signing of the document.
Oklahoma Springing Power of Attorney Requirements
This type of power of attorney becomes effective after a certain date or event that the principal determines in the document. The principal usually stipulates that a power of attorney will become effective if they become incapacitated.
Oklahoma Vehicle Power of Attorney Requirements
The Oklahoma vehicle power of attorney enables the agent to:
Scope of Authorization
Buy or sell the vehicle on behalf of the principal.
Apply for the title transfer.
Register the vehicle with the Oklahoma DPS.
Obtain or renew the vehicle insurance.
Apply for a loan or refinancing.
Sign all the documents related to the vehicle.
Oklahoma Revocation Power of Attorney Requirements
If you want to revoke a previously issued power of attorney, you should use the Oklahoma revocation power of attorney. Precisely identify the document you are revoking by providing the date of signature and the name of the person authorized as an agent.
Oklahoma Tax Power of Attorney Requirements
This type of power of attorney enables a tax professional to represent the principal before the Oklahoma tax authorities. They can collect the information, submit tax reports, and do other tax-related actions on behalf of the principal.
Oklahoma Real Estate Power of Attorney Requirements
This power of attorney enables the agent to manage the property on behalf of the principal. It can also be issued for a specific real estate transaction and automatically terminates after the transaction is completed.
Legal Requirements for a Power of Attorney in Oklahoma
Every Oklahoma power of attorney should fulfill the following requirements to be valid.
Signature. The power of attorney must be signed by the principal or by another person in their conscious presence. (OK ST T. 58 § 3005)
Witnesses. The Oklahoma medical power of attorney requires two adult witnesses to acknowledge the principal’s signature on the document.
Mental capacity. Oklahoma law requires the principal to have the same level of mental capacity when signing the power of attorney as it is required for signing the contract. This means that the principal must be able to understand the nature of their transactions. (Robertson v. Robertson, 654 P.2d 600 (1982))
Notarization. The Oklahoma statute stipulates that a notarized power of attorney will be considered authentic. Therefore, it is highly advisable to notarize your power of attorney in order to prevent any disputes regarding the authenticity of the document.
Who Can Be an Agent for a Power of Attorney in Oklahoma
The agent can be any person over the age of 18 with the legal capacity to make decisions.
However, when choosing the agent, you should also consider:
Whether the person is trustworthy
The capabilities of the person you plan to name your agent
Their willingness to represent you
Their geographical location
Additionally, you can name two or more people to act as co-agents. Lastly, you can name the successor agent who will act in case the primary agent is unable to do so.
How to Create an Oklahoma Power of Attorney
Power of Attorney in Oklahoma
#1. Decide on Which Type of Document to Use
You should choose the appropriate Oklahoma power of attorney according to the matter you want the agent to represent you in and the scope of authority you want to delegate to the agent.
#2. Select an Agent
Choose a person over 18, capable, willing to represent you, and trustworthy. Additionally, name the co-agent or successor agent for the additional security.
#3. Define the Agent’s Powers
You can use the general power of attorney to enable the agent to take all the necessary actions that are in your best interest. Secondly, you can use the limited power of attorney and provide a specific list of the authorities you wish to delegate to the agent.
#4. Download & Fill in Our Form
After determining all the details about your power of attorney, simply download the Ohio power of attorney template from our website and fill it out.
#5. Get It Signed & Notarized
Regardless of the type of your Oklahoma power of attorney, you should notarize it to prevent any fraudulent activities that might call into question the authenticity of the document.
#6. Safely Store the Original Copy
The original copy of the Ohio power of attorney should be in the possession of the principal.
#7. Provide Copies to Relevant Parties
You should provide the agent with a copy of the power of attorney so they can prove their capacity to every third party they are interacting with on behalf of the principal. Additionally, you should provide every third party with a copy of the document.
#8. Update the Document as Needed
Every time some of the details in the power of attorney change, you must issue a new document with the updated information.
How Long Does a Power of Attorney Last in Oklahoma?
An Oklahoma power of attorney becomes effective when executed, at a future date, or upon the occurrence of a future event. If the principal specifies that the power of attorney becomes effective if they become incapacitated, they should also name the person who should determine if such incapacity occurs.
The Oklahoma power of attorney terminates when:
Reasons for Termination
The principal dies
The principal becomes incapacitated (if the document is not durable)
The principal revokes the document
The document expires or its purpose is accomplished
The agent dies or becomes incapacitated, and there is no other agent that can act under the power of attorney.
Oklahoma Power of Attorney FAQ
You shall use the power of attorney in any situation where you need another person to act on your behalf. This can be due to old age, illness, moving to another country, military deployment, and more.
A power of attorney acts as an official authorization for another person to act on behalf of the person who issued the power of attorney.
By notarizing a power of attorney, you are confirming its authenticity and preventing any disputes or fraudulent activities regarding the document’s authenticity. Moreover, many institutions, like banks, won’t accept a power of attorney that’s not notarized.
Yes, even if you have already created the will, you should also have the power of attorney. The will allocates your property after you pass away, while a power of attorney serves you during your lifetime.