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Q.Does a Power Of Attorney Expire?
A.A Specific Power of Attorney if limited in time expires when the time period set forth in the document passes. Non-Durable powers of attorney also expire when the principal becomes incapacitated and in some instances sooner as their main purpose is to enable the performance of a specific task. Different states and different financial institutions will require a non-durable power of attorney to have been executed in the near past (anywhere from 6 months to 5 years).
General durable powers of attorney, on the other hand, are meant to remain valid, until the principal dies or revokes the document. Despite that fact, many financial institutions won't outright refuse to accept a durable power of attorney executed more than five years in the past, but will take extra steps to ensure their validity (e.g., demand the attorney-in-fact sign an affidavit, contact the principal or the attorney who prepared the power of attorney, request a personal appearance from the principal, etc.).
Personal circumstances and the law change. We strongly suggest you periodically revisit any Power of Attorney documents you have executed at least every five years to: (1) ensure that your choice of agent still meets your needs, and to (2) confirm that there have not been any changes in the law in your state that may affect the continuing validity of your Power of Attorney.
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