The Uniform Power of Attorney Act: New Solutions to Old Problems

Abstract

This article examines some of the provisions in the 2006 Uniform Power of Attorney Act and how they attempt to meet some of the challenges that durable powers face with a focus on formalities in drafting, standards of conduct for an agent, an agent's powers and authority, and overcoming the dishonoring of the document.

The UPOAA does an admirable job of modernizing power of attorney law to reflect legislative trends and collective best practices. The enhancements should facilitate the acceptance of durable powers and make it more difficult for devious individuals to abuse the powers. The Act, however, is not the "end all" of power of attorney practice, and thus the practitioner must be vigilant to ascertain the principal's desires, consider the applicable law and facts, and then customize the power to meet the client's needs.

Keywords: power of attorney, agent, principal, Uniform Power of Attorney Act, disability planning

JEL Classification: K11, K30