When it comes to preparing for the future, few estate planning tools are more important than a durable power of attorney. This legal document gives someone you trust the authority to make decisions on your behalf if you become unable to act for yourself. Whether you're concerned about illness, injury, or aging, a durable power of attorney ensures your financial and legal matters are handled according to your wishes.

As a Colorado Springs estate planning lawyer, we regularly help clients draft and understand durable powers of attorney to protect their interests and give their families peace of mind. This guide explains how they work, what makes them "durable," and how Colorado law applies.

What Is a Durable Power of Attorney?

A power of attorney (POA) is a legal document that lets you (the "principal") name someone else (called your "agent" or "attorney-in-fact") to act on your behalf. The scope of authority can vary widely. Some POAs are limited to a single transaction, while others are broad enough to cover a wide range of financial, legal, and property matters.

A durable power of attorney remains in effect even if you become incapacitated. That’s what makes it different from a regular POA, which would otherwise end if you're no longer mentally competent.

Durability is especially important in estate planning. It allows your agent to step in and manage your affairs—pay bills, access accounts, handle investments, or even sell property—without needing court approval through a conservatorship proceeding.

Key Features of a Durable Power of Attorney

Under Colorado law, for a power of attorney to be durable, it must contain specific language stating that the agent’s authority continues after the principal’s incapacity. This is typically included as:

"This power of attorney shall not be affected by the subsequent disability or incapacity of the principal."

Without this language, the POA automatically terminates if the principal becomes incapacitated.

A durable power of attorney can take effect in one of two ways:

1. Immediately Upon Signing

In this format, your agent can use the power of attorney right away. This can be convenient if you're often unavailable, travel frequently, or already want help managing finances.

1. Springing Power of Attorney

This version only becomes effective after a specific event—usually a doctor certifying that you are incapacitated. Springing POAs offer more privacy and control but can create delays if your agent needs to prove your incapacity before acting.

Legal Requirements in Colorado

To be valid in Colorado, a durable power of attorney must meet these requirements:

The principal must be at least 18 years old and of sound mind.

The POA must be in writing.

The document must be signed by the principal (or someone acting at their direction).

Although notarization is not required under Colorado law, it is highly recommended. Many banks and institutions require a notarized copy to accept the POA.

You do not need witnesses for a financial POA in Colorado, but including a notary ensures smoother use and less chance of a challenge later.

Colorado follows the Uniform Power of Attorney Act, which standardizes POAs across the state. This means if you move to Colorado from another state, your existing POA may still be valid—but it’s best to have it reviewed by a Colorado Springs estate planning lawyer to avoid problems.

What Can a Durable Power of Attorney Cover?

Durable powers of attorney can be very broad or very specific. Most estate plans include a general durable financial power of attorney, which covers:

Managing bank accounts

Paying bills and taxes

Buying or selling real estate

Handling investments and retirement accounts

Signing contracts

Applying for public benefits

Managing business interests

Hiring legal and financial professionals

You can also include limitations or specific instructions. For example, you might allow your agent to manage real estate but not sell it without court approval. Or, you can prohibit gifts or loans unless they benefit a specific person.

It’s important to tailor the POA to your situation and goals. A Colorado Springs estate planning lawyer can help customize the document to reflect your wishes and avoid future confusion.

Choosing the Right Agent

Choosing the right person to act as your agent is one of the most important decisions in your estate plan. This person will have access to your financial life and could make major decisions on your behalf.

Here are a few qualities to consider:

Trustworthiness: Choose someone who will act in your best interests.

Financial savvy: Your agent doesn’t need to be an accountant or lawyer, but they should understand basic finances and know when to seek help.

Availability: Make sure they’re willing and able to take on the responsibility.

Location: While not legally required, it can be helpful if your agent lives nearby.

You can also name a successor agent in case your first choice is unwilling or unable to act.

Revoking or Changing a Power of Attorney

You can revoke or amend a durable power of attorney at any time—as long as you are still mentally competent. Revocation must be:

In writing

Signed and dated by you

Ideally notarized

Given to all relevant institutions and the named agent

If you create a new power of attorney, it’s a good idea to state clearly that it revokes all prior powers of attorney.

Keep in mind that divorce does not automatically revoke your former spouse’s authority unless your POA explicitly states this. For this reason, you should update your estate planning documents after major life changes.

Why It Matters for Colorado Springs Residents

Incapacity can happen unexpectedly—whether due to a stroke, accident, or age-related decline. Without a durable power of attorney, your loved ones may need to go to probate court to request a conservatorship just to manage your finances. This process can be time-consuming, expensive, and emotionally difficult.

Having a properly drafted durable power of attorney in place gives you and your family peace of mind. It ensures that someone you trust can act quickly and effectively to protect your interests if you're unable to manage them yourself.

As a Colorado Springs estate planning lawyer, we often see families struggle when no power of attorney exists or when it's outdated. A well-prepared POA can avoid court battles and protect your financial future.

Work with a Colorado Springs Estate Planning Lawyer

Every estate plan should include a durable power of attorney. But it’s not a one-size-fits-all document. The language, scope, and structure should reflect your goals and circumstances.

At Baker Law Group, PLLC, our team can help you:

Draft a customized durable power of attorney

Review and update existing documents

Coordinate your POA with your overall estate plan

Make sure your wishes are clearly understood and legally enforceable

If you're ready to protect your future, contact a Colorado Springs estate planning lawyer today to get started. Durable powers of attorney are a simple step with lasting impact—don’t leave it to chance.