Nebraska Durable Financial Power of Attorney Form

A Nebraska-based individual can appoint a friend, family member, or attorney as her/his representative in any financial or legal matter/situation through the execution of this form.Download

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134 South 13	th Street, Suite 600  •  Lincoln, Nebraska  68508	 	
402	-474	-3183  •  TDD Available  •  1	-800	-422	-6691  •  fax:  402	-474	-3274  •  www.nebraskaadvocacyservices.org	 	
                                                       	The Protection and Advocacy System in Nebraska	                                             	  	 	
    	
 
 	
 
 
 
What is substituted judgment?	 	
Substituted judgment can be used if you need help making decisions about your care or 	
property.  There are several types of substituted judgment you can choose.  The best type of 
substituted judgment is one that allows you to be as independent as possible.	 	
 
 
What are the types of substituted judgment?	 	
There are many types of substituted 	judgment you can choose.  The different types 	
include: health care power of attorney, representative payee, power of attorney, durable power 
of attorney, conservatorship, and guardianship.  The types are listed in order from allowing you 
the most independe	nce (health care power of attorney) to the least independence 	
(guardianship).	 	
   
 
 
 
 	
What is a durable power of attorney?	 	
A durable power of attorney is a paper that creates a relationship between a	 “principal	” and an 	
“attorney in fact	.”  The principal is the person who needs help in making decisions about 	
finances or property.  The principal chooses an attorney in fact to make decisions for the 
principal.  The attorney in fact makes sure that the pr	incipal’s needs are met.  For example, 	
Jane (the 	principal	) may appoint Joe (the 	attorney in fact	) to make decisions about her finances 	
or property if she cannot make those decisions herself.  Neb. Rev. Stat. §30	-3402 (2006).  	 	
 
 
When is a durable power of	 attorney used?	 	
A durable power of attorney is used when you cannot make decisions regarding your 	
finances or property.  The attorney in fact will make those decisions for you.  The attorney in fact 
can begin to make decisions for you when you become disab	led or incapacitated.  This is called 	
a Present Durable Power of Attorney. If you already have a durable power of attorney, the 
attorney in fact can continue to make decisions for you even if you become disabled or 
incapacitated.  This is called a Continge	nt Durable Power of Attorney. The type of durable 	
 	 	
This is basic information and	 	
does not constitute legal advice.	 	
Substituted Judgment 	- Durable Power of Attorney	 	
Durable Power of Attorney

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power of attorney will depend on how you write it. (See “Power of Attorney” form (attached)).  
Neb. Rev. Stat. §§30	-2665; 30	-2666 (2006).	 	
 
 	
How is a durable power of attorney created?	 	
To create a durable 	power of attorney, you must choose a person to be your attorney in 	
fact.  You must state the person’s name in writing and you must also have 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	  	
 	
 	Other words that show you want the attorney in fact to make decisions for you if you 
become disabled or incapacitated.  	 	
 	
Using these words will m	ake sure that the durable power of attorney will be effective even 	
if you are disabled.  Neb. Rev. Stat. §30	-2665 (2006).	 	
 
 
How does a durable power of attorney work?	 	
A durable power of attorney works much like a power of attorney (see “Power of 	
Attorney” 	material), except that it will be in effect even if you are disabled or incapacitated.  Neb. 	
Rev. Stat. §30	-2666 (2006).	 	
 
 
What are the duties of a durable power of attorney?	 	
The attorney in fact may sometimes be appointed as a 	fiduciary	.  A 	fiduciary	 is s	omeone 	
who is supposed to make decisions in your best interests	.  Examples of a fiduciary are a 	
conservator, guardian, or other person you choose who is in charge of managing your finances 
or property.  	 	
 
 
How does a durable power of attorney end?	 	
A durabl	e power of attorney can end in one of two ways:	 	
 	When you die; 	 	
 	If you cancel it and you are competent.  When you cancel it, it becomes a matter of public 
record and the durable power of attorney ends.  Neb. Rev. Stat. §§49	-1523; 49	-1560 	
(2006).	 	
 	
If the attorney in fact makes decisions for you without knowing that you have died, the 	
decision will still be in effect.  Neb. Rev. Stat. §30	-2668 (2006).

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POWER OF ATTORNEY	 	
 
_______________________________, a domiciliary of _______________________ Count	y, 	
Nebraska, Principal desiring and intending to establish a Power of Attorney operative under the 
Nebraska Short Form Act, does hereby appoint, constitute, and designate 
___________________, a __________________________________ of or with an office in 
___	_________________________ County, Nebraska, Agent, the lawful and true Agent and 	
attorney in fact for Principal; and Principal does hereby further provide and stipulate in 
connection therewith as follows:	 	
 	
1. This Power of Attorney is, as marked, a	 	
(     )	 	Du	rable Power of Attorney and a 	 	
 	 	(     )	 	Contingent Durable Power of Attorney, upon the contingency of,	 	
 	 	 	(     )	 	Incompetence of Principal, or	 	
 	 	 	(     )	 	Other 	 	
Contingency:________________________________, or	 	
 	 	(     )	 	Present Durable Power of Attorney	 	
(     )	 	Nondurable Power of Attorney	 	
2. By this Power of Attorney, Principal confers upon and grants to Agent plenary power, plenary 
power subject to limitations, or all and each of the listed general powers as individually marked:	 	
(     )	 	Plenary Power; or	 	
(     	) 	Plenary Power Subject to Limitations, exclusive of General Powers for 	 	
Domestic and Personal Concerns and for Fiduciary Relationships and 	 	
 	 	(     )	 	No Other Restrictions, or	 	
 	 	(     )	 	Other Restrictions:______________________________________; or	 	
(     	) 	General Power for Bank and Financial Transactions.	 	
(     )	 	General Power for Business Interests.	 	
(     )	 	General Power for Chattels and Goods.	 	
(     )	 	General Power for Disputes and Litigation.	 	
(     )	 	General Power for Domestic and Personal Concerns	. 	
(     )	 	General Power for Fiduciary Relationships.	 	
(     ) 	 General Power for Governmental and Other Benefits.	 	
(     )	 	General Power for Insurance Coverages and Policies.	 	
(     )	 	General Power for Proprietary Interests and Materials.	 	
(     )	 	General Powe	r for Real Estate.	 	
(     )	 	General Power for Securities.	 	
(     )	 	General Power for Records, Reports, and Statements.	 	
3. By this Power of Attorney, Principal makes the following additional provision or provisions:	 	
______________________________________________	______________________________	
____________________________________________________________________________
____________________________________________________________________________
__________________________________________________________________________	__	
___________________________________	___________________________________	______

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4. This Power of Attorney revokes and supersedes all prior executed instruments of like import and 
remains operative until revoked.	 	
EXECUTED AT ____________________________________	_, ____________________ 	
County, Nebraska, on _______________________________ ______, 20___.	 	
 
 	 	 	 	 	 	 	___________________________	 	
 	 	 	 	 	 	 	 	 	 	     	Principal	 	
 
STATE OF NEBRASKA	 	 	 	) 	
 	 	 	 	 	 	) SS.	 	
COUNTY OF _____________________)	 	
 	The foregoing instrument was ackno	wledged before me on _____________________ 	
______, 20___, by the Principal _____________________________________________.	 	
 
 	 	 	 	 	 	 	___________________________	 	
 	 	 	 	 	 	 	 	           	 	Notary Public