Pennsylvania substantially overhauled its power of attorney statute in 2014 (Act 95), with further refinements since. Powers of attorney executed before those changes — or executed using out-of-state or generic forms — are routinely rejected by Pennsylvania banks and brokerages.
What Pennsylvania requires
A Pennsylvania financial POA must include a specific statutory Notice signed by the principal and a separate Acknowledgment signed by the agent. It must be signed in front of a notary and two witnesses (who cannot be the agent or the notary).
Certain powers — making gifts, creating or amending trusts, changing beneficiary designations, disclaiming property — must be expressly granted in the document. A general grant of authority is not enough.
Durable, springing, and limited
A durable POA remains effective if you become incapacitated — which is the whole point. A springing POA only takes effect on incapacity, but requires a doctor's certification and is routinely delayed by banks. We generally recommend durable, effective immediately, with a trusted agent.
Update old documents
If your POA was signed before 2015, replace it. Banks are within their rights to refuse it, and your family will discover that only when they need it most.