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It is generally perceived that a power of attorney prepared in accordance with Chapter 752 of the Texas Estates Code as a “durable power of attorney” will be legally sufficient. However, a recent Texas Bar Journal article calls into question such perception. The proposition of the article is that it is not uncommon for a bank not to recognize the authority of an attorney in fact under a durable power of attorney for a variety of reasons.

As I have granted powers of attorney using durable powers of attorney forms in case of my own physical or mental disability, I decided to contact my banks in order to determine their respective policies regarding the recognition of a durable power of attorney. Both banks requested changes to the forms I had used. In one case the requested changes were unacceptable to me. Based upon my experience, it is a good idea to make certain that your power of attorney will be accepted by your bank, brokerage firm and other businesses and service providers with whom you may conduct business.

Summary
Durable Power of Attorney
Article Name
Durable Power of Attorney
Description
It is not uncommon for a bank not to recognize the authority of an attorney in fact under a durable power of attorney for a variety of reasons.
Author
Publisher Name
Law Offices of Marc P. Gordon