Financial power of attorney in Utah: what powers can an agent exercise?

Short answer: A properly drafted Utah financial power of attorney (POA) can give your agent broad authority to manage bank accounts, pay bills, buy and sell real estate, handle taxes, manage retirement and investment accounts, and more — including continuing to act if you become incapacitated — but only to the extent you grant those powers in the document and consistent with Utah law. This article explains the typical powers, legal limits, and practical steps to protect your finances and your agent.

Disclaimer

This is general information, not legal advice. I am not a lawyer. For advice about your situation, consult a licensed Utah attorney.

Detailed Answer — what a Utah financial POA can and cannot do

Overview

Under Utah law, a financial power of attorney is a written document in which you (the principal) name an agent to act on your behalf for financial matters. You decide what powers to give, whether the agent’s authority is broad or limited, whether it starts immediately or only if you become incapacitated, and whether it continues after incapacity (a “durable” power of attorney). For Utah resources that introduce these rules, see the Utah Courts guidance and state code resources:

Common powers agents can have (if you grant them)

Most Utah financial POAs include many or all of the following authorities. The agent can only exercise powers that the POA actually grants.

Banking and cash management: deposit and withdraw funds, write checks, manage checking and savings accounts, and endorse checks payable to you.
Pay bills and manage routine affairs: pay rent or mortgage, utilities, insurance premiums, and other ongoing obligations.
Investments and retirement accounts: buy, sell, and manage stocks, bonds, mutual funds, and other investments; manage IRAs or brokerage accounts if institution rules and the document allow it. Note that some custodians want their own POA form or additional documentation.
Tax matters: file tax returns, sign tax forms, receive tax information, and negotiate with tax authorities.
Real estate transactions: buy, sell, lease, mortgage, or manage real property on your behalf (often requires recording the POA for title companies or county recorders).
Insurance and benefits: apply for, maintain, and make claims on insurance policies, Social Security, or veterans benefits related to finances.
Business interests: operate or sell a business, sign contracts, and hire professionals for business matters if the POA explicitly permits it.
Gifts and transfers: make gifts or transfers of your assets only if the POA specifically grants gifting authority and you follow any statutory limits or required language (many documents treat gifting as a special power and require explicit authorization).

Durable vs. non-durable and when agent authority starts

A “durable” POA remains effective if you become incapacitated. If a POA is not durable, it ends when you lose capacity. You can also create a “springing” POA that only becomes effective upon a specified event (commonly a physician’s certification of incapacity). In Utah, you should make your intent clear in the document about durability and any conditions for effectiveness, because institutions will follow the written language.

Limits and things a POA generally cannot do

No authority after death: A POA ends when the principal dies. The agent cannot act as an executor — the estate is handled by the personal representative named in the will or appointed by the court.
Health care decisions: Financial POAs do not grant health-care decision-making powers unless you also create a separate medical (health-care) power of attorney or include specific statutory language where allowed. For medical decisions, use the appropriate health-care directive form.
Criminal acts or illegal uses: An agent cannot lawfully use a POA to commit fraud or illegal acts; such conduct is subject to civil and criminal penalties.
Restrictions you add: You may limit powers (for example, no gifts, no sale of a home, or limits on transaction size). The agent is bound by those limits.

Agent duties and legal responsibilities

When acting under a POA in Utah, an agent generally owes fiduciary duties to the principal. Key duties include:

Act in good faith and in the principal’s best interest.
Follow the principal’s directions and the POA’s terms.
Avoid conflicts of interest and self-dealing unless the POA expressly authorizes certain transactions.
Keep accurate records and account for transactions. Courts and interested parties can require accounting.

If an agent violates duties, they may face civil liability, and in some cases criminal penalties.

When banks, brokers, or title companies may require more

Financial institutions and title companies often have their own acceptance policies. They may:

Require an original signed POA (not a copy).
Ask for notarization and/or witnesses.
Require specific statutory language or a corporate fiduciary form.
Refuse to honor a springing POA until they receive required proof of incapacity.

How to make sure your POA works as intended in Utah

Use clear, specific language about which powers you grant and whether the POA is durable. If you want gifting authority, say so explicitly.
Sign the document following Utah formalities: include any required notarization or witness statements. Many institutions expect notarization.
Provide copies to your agent, successor agents, family members, and relevant financial institutions. Consider recording the POA if it will be used for real estate transactions.
Consider naming successor agents in case the first agent cannot serve.
Review your POA periodically and revoke or update it if your wishes change.

What to do if you suspect abuse or misuse

If you (or someone you know) suspect that an agent is misusing a POA in Utah, act quickly:

Contact the bank or institution involved; they may freeze transactions or place holds.
Talk to family members and the principal (if possible) to confirm intent.
Consult a Utah attorney about revocation, restraining orders, or court petitions to remove the agent and require an accounting.
Report suspected financial exploitation of an elderly or vulnerable adult to Utah Adult Protective Services or local law enforcement.

Helpful Hints

Give only the powers you trust someone to use. If you’re unsure, grant limited powers rather than unlimited authority.
Prefer named successor agents so someone can step in if the primary agent can’t serve.
Consider using a lawyer to draft or review the document to ensure it meets your goals and Utah formalities.
Keep the original signed POA in a safe place and provide certified copies to institutions that will need it.
Tell financial institutions in advance that an agent may present a POA later; ask what form or wording they prefer.
Make clear whether the POA is durable and whether it is effective immediately or upon incapacity (springing). Institutions often prefer immediate and durable to avoid delay.
If you own property in multiple states, check whether additional steps are needed for out-of-state agents or to comply with other state laws.
Keep a record of major transactions the agent makes on your behalf and require periodic accountings from the agent if you want ongoing transparency.

Where to get help in Utah

For forms and more information, review the Utah Courts guidance on powers of attorney (link above) and consult a local attorney if you want a tailored document or if a dispute arises. For statute text and the exact statutory rules, search the Utah Code at the Utah Legislature website: https://le.utah.gov/search.jsp?search=power%20of%20attorney.

Planning tip: a well-drafted financial POA, paired with a health-care directive and an up-to-date will, helps ensure your wishes are followed and reduces the risk of court involvement.