In Colorado, lawmakers have a list of requirements for the state to recognize and accept a power of attorney document. Thus, if you have elected an agent to act on your behalf, you must ensure that these legal requirements are all complied with. If not, it is highly possible that another party (who is not your duly elected agent) may end up making decisions for you, including critical ones about your health and finances.
The state imposes that a notary public is present while you execute the power of attorney. After execution, the notary will affix his signature on the document. Consequently, he will affix his seal to the document.
Another requisite is that you are mentally competent as of the date you signed the document. If not, Colorado’s state courts could declare that the document is not binding at all. This may complicate matters especially when a dispute arises regarding the authority granted to your agent.
Creating the document
You have the liberty to choose the nature and extent of authority given to an agent. But do remember that there are specific laws the state of Colorado imposes when it comes to the effectivity of power of attorneys.
For instance, starting 2010, Colorado declared that generally, power of attorneys are treated as durable documents. This means that you, the assignor, are allowing your agent to continue acting on your behalf even in situations when you’ve become mentally or physically incapable. Durability also applies in situations where the assignor has passed away. This durability feature gives you some assurance that somebody you trust will act on your behalf and protect your interest (or your family’s) even if you are long gone.
The only exception to this durability feature is that when the power of attorney clearly expresses that such was not intended when such power was assigned to the agent.