14-5501

14-5501. Durable power of attorney; creation;
validity

A. A durable power of attorney is a written instrument by which a principal
designates another person as the principal's agent. The instrument shall contain words
that demonstrate the principal's intent that the authority conferred in the durable power
of attorney may be exercised:

1. If the principal is subsequently disabled or incapacitated.

2. Regardless of how much time has elapsed, unless the instrument states a definite
termination time.

B. The written instrument may demonstrate the principal's intent required by
subsection A of this section using either of the following statements or similar
language:

1. "This power of attorney is not affected by subsequent disability or incapacity
of the principal or lapse of time."

2. "This power of attorney is effective on the disability or incapacity of the
principal."

C. A power of attorney executed in another jurisdiction of the United States is
valid in this state if the power of attorney was validly executed in the jurisdiction in
which it was created.

D. Except as provided in section 28-370, an adult, known as the principal, may
designate another adult, known as the agent, to make financial decisions on the
principal's behalf by executing a written power of attorney that satisfies all of the
following requirements:

1. Contains language that clearly indicates that the principal intends to create a
power of attorney and clearly identifies the agent.

2. Is signed or marked by the principal or signed in the principal's name by some
other individual in the principal's conscious presence and at the principal's direction.

3. Is witnessed by a person other than the agent, the agent's spouse, the agent's
children or the notary public.

4. Is executed and attested by its acknowledgment by the principal and by an
affidavit of the witness before a notary public and evidenced by the notary public's
certificate, under official seal, in substantially the following form:

I, __________, the principal, sign my name to this power of attorney
this _____ day of __________ and, being first duly sworn, do declare to the
undersigned authority that I sign and execute this instrument as my power of
attorney and that I sign it willingly, or willingly direct another to sign for
me, that I execute it as my free and voluntary act for the purposes expressed
in the power of attorney and that I am eighteen years of age or older, of
sound mind and under no constraint or undue influence.

______________________

Principal

I, __________, the witness, sign my name to the foregoing power of
attorney being first duly sworn and do declare to the undersigned authority
that the principal signs and executes this instrument as the principal's power
of attorney and that the principal signs it willingly, or willingly directs
another to sign for the principal, and that I, in the presence and hearing of
the principal, sign this power of attorney as witness to the principal's
signing and that to the best of my knowledge the principal is eighteen years
of age or older, of sound mind and under no constraint or undue influence.

____________________

Witness

The state of ______________

County of _________________

Subscribed, sworn to and acknowledged before me by __________, the
principal, and subscribed and sworn to before me by __________, witness, this
_____ day of ____________.

(seal)

(signed) _____________________

______________________________

(notary public)

E. The execution requirements for the creation of a power of attorney provided in
subsection D of this section do not apply if the principal creating the power of attorney
is:

1. A person other than a natural person.

2. Any person, if the power of attorney to be created is a power coupled with an
interest. For the purposes of this paragraph, "power coupled with an interest" means a
power that forms a part of a contract and is security for money or for the performance of
a valuable act.

F. A person whose license as a fiduciary has been suspended or revoked pursuant to
section 14-5651 may not serve as an agent under a power of attorney in any capacity
unless the person is related to the principal by blood, adoption or marriage. This
prohibition does not apply if the person's license has been reinstated and is in good
standing.