A Colorado Power of Attorney is a legal document that allows a person the authority to make decisions on behalf of another.
These decisions can be financial, medical, family-based, or legal. There are much different power of attorney forms and can vary in circumstances and duration.
The principal may choose to complete a power of attorney for a short, temporary situation. For example, if they need a financial task to be taken care of, they can appoint another individual (the agent). However, the duration of the Colorado POA can also be long-term. Suppose if they foresee a medical necessity, they can appoint an agent to make medical decisions if they are incapacitated.
In short, this document is used to ensure that an agent can carry out thoughtful actions on behalf of someone (principal) who is unable to do so. This article will discuss all the different kinds of power of attorneys available and relevant laws and proceedings in the State of Colorado.
Free POA Forms
If you’re in Colorado and in need of a Power of Attorney document, look no further than our collection of free templates. A Power of Attorney grants someone the authority to act on your behalf in legal, financial, or medical matters, making it a crucial document to have in place. Our free templates for Colorado Power of Attorney offer a convenient and accessible solution, allowing you to easily customize the document to meet your specific needs.
Types of Power of Attorney
A Colorado power of attorney is a generalized term. Many different kinds are specific to the named agent’s decisions. This is for the protection of all parties involved. This way, the agent cannot assume responsibility for all important life decisions but rather only those explicitly mentioned in the specific power of attorney.
This article will discuss 10 of the most common power of attorneys in Colorado. Here are the different power of attorney form types and their respective supporting laws:
Real Estate Power of Attorney
A real estate power of attorney is a valuable document that gives an agent the power to conduct any real estate proceedings on behalf of the individual in Colorado. This can involve the sale or purchase of a piece of real estate, but the agent must be qualified to handle such transactions. The statutes regarding this specific power of attorney can be found in the Uniform Power of Attorney Act (§§ 15-14-701 — 15-14-745.
The proceedings to validate this power of attorney require special instructions that specify the power that the agent is authorized to. For example, the specific address of a real estate sale should be included and any information relevant to that address.
This power of attorney should be notarized when the witnesses sign the document. The signing requirements can be found at CRSA § 38-30-124; CRSA § 15-14-705.
Advance Directive
The advance directive is a type of power of attorney used to cover an individual’s wishes in the case of a medical emergency in Colorado. If the person cannot speak for themselves or make a conscious decision, this legal document will outline how they would like to be medically treated. All of the statutory information can be found at § 25.5-4-413.
This document will cover many specific medical treatment procedures and grant an agent authority to sign off on specific decisions. For example, if a person with a chronic illness stops breathing, they may choose to refuse resuscitation or breathing tubes. This specific information would be included in section 10 under Cardiopulmonary resuscitation.
In addition to making medical decisions, the agent can obtain medical records and authorize or deny specific measures meant to manage pain levels. These advance directives can be personalized according to the individual’s situation and preferences.
It is a legal document, so it must also be notarized upon signing. Alternatively, it can be signed by two witnesses. However, the witnesses cannot be a physician, a healthcare employee, or anyone who is entitled to a portion of the individual’s estate under their will. The laws regarding the signing requirements can be located at (§§ 15-18-106(1), 15-18-105(1)
Download: Microsoft Word (.docx)
Durable (Statutory) Power of Attorney
Colorado’s durable power of attorney means that the legal authority to make financial decisions is valid even when the individual is incapacitated. This type of power of attorney is a legal document signed before any events occur that cause the individual to become unable to make their own decisions. The Colorado Durable Power of Attorney laws can be found here: Title 15, Article 14, Part 7 (Uniform Power of Attorney Act).
In Colorado, durable means that a power of attorney is not ended by the individual becoming incapacitated § 15-14-702(2). This is a beneficial document that allows an agent to immediately take over financial decisions to avoid conservatorship proceedings and ultimately save time and money for the individual. The statutory form for a power of attorney is located at § 15-14-741.
The signing requirements for this type of power of attorney stipulate a notary to be present. When signing, the agent can have their signature acknowledged officially via an Agent’s Certification to facilitate further proceedings using a power of attorney.
Download: Microsoft Word (.docx)
General (financial) Power of Attorney
A Colorado general power of attorney, also known as the financial power of attorney, assigns an agent to make financial decisions for an individual. This allows the agent to take critical financial actions on behalf of the individual. However, this power of attorney differs from the durable power of attorney in that it automatically becomes invalid if the individual becomes incapacitated. The primary statute regarding the general power of attorney can be found at Uniform Power of Attorney Act (§§ 15-14-701 — 15-14-745)
This means that the agent can access the individual’s central finances and banking powers, but usually for a limited time. In general, these types of power of attorneys specify a beginning and end date of authority.
Like many power of attorney documents, this one requires a notary public to be present during the signing (see: CRSA § 15-14-705).
Download: Microsoft Word (.docx)
Limited Power of Attorney
A limited power of attorney is a particular legal document that allows an agent to act on behalf of an individual in Colorado. In this case, however, the agent does not have nearly as broad of capacity as in other power of attorneys. Instead, the agent is only given the power to take specific actions. The statutes outlining this document can be found in the Uniform Power of Attorney Act (§§ 15-14-701 — 15-14-745).
While this document is more limited, it is recommended to be written with exact language to avoid misinterpretation. For example, an individual may choose to grant this power of attorney to a real estate agent so that they may sell their property on their behalf. In this case, all of the specifics regarding that sale should be outlined within the document.
As with many legal documents, this specific power of attorney must have a notary public present during the signing. These proceedings are outlined in CRSA § 15-14-705.
Download: Microsoft Word (.docx)
Medical Durable Power of Attorney
A Colorado medical durable power of attorney is a form that gives an agent the power to carry out your best wishes regarding your healthcare. This power of attorney is most relevant when an individual is incapacitated and cannot make those decisions for themselves. The laws regarding this form can be found here.
While the durable power of attorney remains in effect the entire time an individual is incapacitated, it expires upon death or explicit expiration date. This means it is essential to write up the form carefully.
Just as with the other power of attorneys, it is also necessary to have a notary public present upon signing. Otherwise, it could be invalid, resulting in family members needing to go to a costly conservatorship court proceeding.
Download: Microsoft Word (.docx)
Minor (Child) Power of Attorney
A Colorado minor power of attorney is also referred to as a parental POA. These documents will give an agent the power to make parental decisions on behalf of a child if the individual(s) cannot do so. In most cases, this specific power of attorney is granted to a relative, but sometimes also to a close friend. The laws regarding a minor power of attorney can be found at § 15-14-105.
This form has more specific limitations regarding the time constraints. It is only valid for a maximum of 12 months. The law also specifies that the agent will have the power to make decisions any guardian can make, except any actions regarding marriage and adoption.
This document is one of the simpler forms compared to other POAs and should list the chosen guardian and the children to be taken care of. However, just like the others, it should also be notarized upon signing.
Download: Microsoft Word (.docx)
Revocation of Power of Attorney
The Colorado revocation of power of attorney is a legal document that allows an individual to end any previous POAs. As long as the individual is capacitated, they can terminate any power of attorney and regain full power over their finances and medical decisions. The laws regarding the revocation process can be found at § 15-14-710.
The key to the revocation document is that the individual must inform all relevant parties of the termination of the original power of attorney. This includes the agent involved and any financial or medical institutions connected to the document’s powers. To guarantee smooth proceedings, this document should also be notarized upon signing.
Download: Microsoft Word (.docx)
Tax Power of Attorney (DR 0145)
The tax power of attorney is a specialized financial POA that allows an agent to handle all the tax responsibilities within the state of Colorado. Unlike other power of attorney, this specific document must be submitted to the Colorado Department of Revenue to take effect.
The agent can file taxes, receive tax information, and speak on behalf of the individual. This is usually done by a qualified tax attorney or professional. The document itself should specify the level of authority that is granted. For example, it should mark whether or not the agent is allowed to receive and disclose confidential tax information. For this reason, the Colorado tax power of attorney can be customized to fit the individual’s needs.
Download: Microsoft Word (.docx)
Vehicle Power of Attorney (DR 2175)
The Colorado vehicle power of attorney is a simple form that designates an agent to take care of any vehicle paperwork. This includes transferring titles, registration and fees, and any liens placed on the vehicle. The Colorado vehicle power of attorney laws is CRS 15-14-701 and CRS 15-14-705.
This form can be completed through a checklist-style and will mark the specific powers given to the agent upon signing. The form should also identify the vehicle(s) held under this document’s competencies.
The vehicle power of attorney should be signed before a Colorado notary public for it to become legally binding.
Download: Microsoft Word (.docx)
Springing Power of Attorney
A springing power of attorney is a unique type of form in that the effects are not immediately granted upon signing. Instead, the powers specified within the document will only be transferred over when a pre-determined event occurs. In most cases, this pre-determined event would be medically-induced incapacitation.
This means that a Colorado springing power of attorney can be applied to any previously listed POAs. This springing quality of the form is conducive to transferring essential powers to a trusted individual in the case of any unfortunate events.
Download: Microsoft Word (.docx)
Real Estate Power of Attorney
A real estate power of attorney is a valuable document that gives an agent the power to conduct any real estate proceedings on behalf of the individual in Colorado. This can involve the sale or purchase of a piece of real estate, but the agent must be qualified to handle such transactions. The statutes regarding this specific power of attorney can be found in the Uniform Power of Attorney Act (§§ 15-14-701 — 15-14-745.
The proceedings to validate this power of attorney require special instructions that specify the power that the agent is authorized to. For example, the specific address of a real estate sale should be included and any information relevant to that address.
This power of attorney should be notarized when the witnesses sign the document. The signing requirements can be found at CRSA § 38-30-124; CRSA § 15-14-705.
Download: Microsoft Word (.docx)
Governing Laws
In Colorado, the primary law that outlines the capacity and procedures of a power of attorney is Title 15, Article 14, Part 7 (Uniform Power of Attorney Act). It involves four subparts.
The first subpart is the general provisions section which includes the definition, applicability, and procedures involved for a Colorado power of attorney. For example, the first subpart will define several important terms used throughout, such as “agent”, “durable”, “good faith”, and “incapacity”. This section also mentions that all powers of attorney are implicitly durable unless expressly stated otherwise.
Subpart two is the authority section and outlines all of the powers granted under a POA form. In this section, all of the information regarding the effects relevant to significant institutions can be found. For example, all of the governing statutes referring to banks, real estate, trusts, taxes, and retirement plans are outlined in this section.
Subpart three is a shorter section of the statutory form that gives examples of the power of an attorney and a certification form. The agent certification form is fundamental because it describes all of the signing requirements. Here, it states that the presence of a notary public is necessary for a power of attorney to be legally binding. This section is handy for anyone looking to draft up their power of attorney in the State of Colorado.
Finally, subpart four is the miscellaneous provisions section that includes statutes relevant to other matters that may affect power of attorney. For example, § 15-14-744. In addition, the “Electronic Signatures in Global and National Commerce Act” specifies that electronic signatures are valid for a power of attorney, but only if they meet specific requirements.
There are statutory forms available at § 15-14-741, including a standardized version and a Colorado BAR version.
Colorado POA Requirements
While a Colorado power of attorney is a valuable document, several requirements must be upheld to be legally binding. If these requirements are not met, a conservatorship court proceeding must take place, which can be both time-consuming and expensive.
The State of Colorado requires that all power of attorneys be in writing and signed by an individual who is at least 18 years old. This legal document should be highly specific, mentioning all parties involved and the actual powers granted. Finally, a notary public should validate the document after signing.
Every power of attorney should be personalized to grant specific powers to the agent. For example, even though a financial power of attorney is signed, that does not automatically grant authority over every type of financial transaction. If an individual wants the agent to have the authority to make changes to beneficiaries or any trusts, then those must be specified within the form.
Additionally, the names and signatures of all parties should be included along with the date. The date should refer to the date of the agreement being signed and the date acknowledging the time in which the powers are in effect.
Factors to Consider While Drafting a POA
When drafting the POA, it’s essential to think carefully about who you appoint and what powers you will be granting them. For instance, the principal may not want their agent to have universal authority over all financial decisions but instead only want them to have limited powers regarding a specific decision.
Likewise, it’s essential to choose the agent very carefully. The power of authority is an immense responsibility, so the agent must be able to act dutifully. A professional often should be chosen for specific types of POAs, such as a real estate power of attorney. But in other cases, a close friend or family member would be more appropriate.
It’s also possible to choose subsequent successors to act on behalf of the agent in case of death or incapacitation. This may be important in cases of medical power of attorneys, but the people chosen should be those who would serve in a way that aligns with your values.
How to Get Power of Attorney in Colorado?
To obtain a Colorado power of attorney, both the individual and the agent must be present and sign the relevant form before a notary public. In many cases, it is wise to have a lawyer or legal professional handle the specifics of the form to make sure that the document is sufficiently completed.
If an individual is incapacitated, a court proceeding must take place to decide over a conservatorship regarding their finances. A court will then decide who receives a Colorado power of attorney during these situations.
Frequently Asked Questions
In Colorado, an agent is defined as a fiduciary (CO Rev Stat § 15-14-702 (2016)). This means that the agent must act in good faith, based on what they believe to benefit the individual and align with their values.
Additionally, the agent should keep measurable records of all of their actions while acting under the power of attorney if any of their actions need to be reviewed.
According to Colorado law, a general power of attorney does not need to be notarized, according to their revised statute § 15-14-705. However, in some circumstances, it is required.
Likewise, most professionals agree that it is more appropriate to notarize a power of attorney and have it witnessed by two people. This guarantees that the POA will be considered genuine and prevents any possible future disruptions.
