Power of Attorney – General – Delaware
A durable power of attorney is a power of attorney by which a principal designates another attorney-in-fact in writing, and the writing contains the words: “This power of attorney shall not be affected by subsequent disability or incapacity of the principal,” or “This power of attorney shall become effective upon the disability or incapacity of the principal,” or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity.
All acts done by an attorney-in-fact pursuant to a durable power of attorney during any period of disability or incapacity of the principal have the same effect and inure to the benefit of and by the principal, and the principal’s successors in interest, as if the principal were competent and not disabled.
The appointment of a guardian or other fiduciary charged with the management of the principal’s property or the care of the principal’s person terminates all powers of attorney the extent that the powers held by the attorney-in-fact prior to the appointment of a guardian or other fiduciary are granted to the guardian or other fiduciary. A person or entity serving as attorney-in-fact may, upon request and absent cause to the contrary, be appointed the guardian or other fiduciary of the principal.
After the appointment of a guardian or other fiduciary charged with the management of the principal’s property or the care of the principal’s person, an attorney-in-fact is accountable to the guardian or other fiduciary as well as to principal as to any powers which the attorney-in-fact continues to hold. A guardian or other fiduciary has the power to revoke or amend the powers of the attorney-in-fact as given to such guardian or other fiduciary by the court.
The death, disability or incapacity of a principal who has executed a written power of attorney, durable or otherwise, does not revoke nor terminate the agency as to the attorney-in-fact, or other person who, without actual knowledge of the death, disability, or incapacity of a principal, acts in good faith under the power. Any action so taken, unless otherwise invalid or unenforceable, binds the successors in interest of the principal.