Colo. Rev. Stat. § 15-14-704

Current through Chapter 67 of the 2024 Legislative Session

Section 15-14-704 - Power of attorney is durable

(1) A power of attorney created on and after January 1, 2010, is durable unless it expressly provides that it is terminated by the incapacity of the principal.

(2) A power of attorney existing on December 31, 2009, is durable only if on that day the power of attorney is durable under section 15-14-501 or 15-14-745(2).

C.R.S. § 15-14-704

L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 386, §1, effective April 9.

OFFICIAL COMMENT

Section 15-14-704 establishes that a power of attorney created under the Act is durable unless it expressly states otherwise. This default rule is the reverse of the approach under the Uniform Durable Power of Attorney Act and based on the assumption that most principals prefer durability as a hedge against the need for guardianship. See also Section 15-14-707 Comment (noting that the default rules of the jurisdiction's law under which a power of attorney is created, including the default rule for durability, govern the meaning and effect of a power of attorney).