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The Massachusetts Durable (Financial) Power of Attorney is used by many to plan ahead for their estate in case they wind up in a position where they cannot function on their own behalf. Executors have the right to effectuate the document immediately so that they and their agent have concurrent authority relative to their finances/property, or they can choose to only let it take effect once they become incapacitated (known as “springing”). To implement said document, the principal will have to transcribe the necessary information, choose their preferred authorities, and list any limitations or additional powers within the special instructions (if applicable). Technically speaking, this document does not have any state signing requirements, but legal professionals across Massachusetts insist that individuals endorse it while being witnessed by two (2) eligible persons and/or a notary public for acknowledgment purposes.

Laws

Statutes – Chapter 190B, Article V: Sections 5-501 – 5-507

Current Bill – H.1598: An Act Relative to the Uniform Power of Attorney Act

Definition – “A durable power of attorney is a power of attorney by which a principal designates another his attorney in fact in writing and the writing contains the words ‘This power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time,’ or ‘This power of attorney shall become effective upon the disability or incapacity of the principal,’ or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity, and, unless it states a time of termination, notwithstanding the lapse of time since the execution of the instrument.” (§ 5-501)

Signing Requirements – Although there is no mention of any signing requirements within Massachusetts’s General Laws, executors of this instrument are highly encouraged to sign it in the presence of at least two (2) witnesses and/or a notary public.

Revocation – The principal must provide written notice of the original POA’s revocation to their attorney-in-fact (§ 5-504).