404.705. Durable power of attorney, procedure to create, requirements, effect, recording not required, exception--person appointed has no duty to exercise authority conferred, exception.

MISSOURI STATUTES AND CODES

404.705. Durable power of attorney, procedure to create, requirements, effect, recording not required, exception--person appointed has no duty to exercise authority conferred, exception.

Durable power of attorney, procedure to create, requirements, effect,recording not required, exception--person appointed has no duty toexercise authority conferred, exception.

404.705. 1. The authority granted by a principal to an attorney infact in a written power of attorney is not terminated in the event theprincipal becomes wholly or partially disabled or incapacitated or in theevent of later uncertainty as to whether the principal is dead or alive if:

(1) The power of attorney is denominated a "Durable Power ofAttorney";

(2) The power of attorney includes a provision that states insubstance one of the following:

(a) "THIS IS A DURABLE POWER OF ATTORNEY AND THE AUTHORITY OF MYATTORNEY IN FACT SHALL NOT TERMINATE IF I BECOME DISABLED OR INCAPACITATEDOR IN THE EVENT OF LATER UNCERTAINTY AS TO WHETHER I AM DEAD OR ALIVE"; or

(b) "THIS IS A DURABLE POWER OF ATTORNEY AND THE AUTHORITY OF MYATTORNEY IN FACT, WHEN EFFECTIVE, SHALL NOT TERMINATE OR BE VOID ORVOIDABLE IF I AM OR BECOME DISABLED OR INCAPACITATED OR IN THE EVENT OFLATER UNCERTAINTY AS TO WHETHER I AM DEAD OR ALIVE"; and

(3) The power of attorney is subscribed by the principal, and datedand acknowledged in the manner prescribed by law for conveyances of realestate.

2. All acts done by an attorney in fact pursuant to a durable powerof attorney shall inure to the benefit of and bind the principal and theprincipal's successors in interest, notwithstanding any disability orincapacity of the principal or any uncertainty as to whether the principalis dead or alive.

3. A durable power of attorney does not have to be recorded to bevalid and binding between the principal and attorney in fact or between theprincipal and third persons, except to the extent that recording may berequired for transactions affecting real estate under sections 442.360 and442.370, RSMo.

4. A person who is appointed an attorney in fact under a durablepower of attorney has no duty to exercise the authority conferred in thepower of attorney, whether or not the principal has become disabled orincapacitated, is missing or is held in a foreign country, unless theattorney in fact has agreed expressly in writing to act for the principalin such circumstances. An agreement to act on behalf of the principal isenforceable against the attorney in fact as a fiduciary without regard towhether there is any consideration to support a contractual obligation todo so. Acting for the principal in one or more transactions does notobligate an attorney in fact to act for the principal in subsequenttransactions.