New DPOA requirements now in effect

A reminder: The new requirements for durable powers of attorney that we wrote about here went into effect for all POAs executed after October 1, 2012. Although a POA executed before that date is not subject to the requirement, it would be a good idea to update the forms, since it can be predicted that banks, financial institutions, and other custodians of funds will insist on having that language in place before they will accept a form.