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The Maryland General (Financial) Power of Attorney is a tool used for the purpose of assigning a third (3rd) party to handle various financial matters on your behalf. It should be noted that this specific form is “non-durable”, meaning that it expires upon the incapacitation of the principal party. Within the document, the grantor will have the capability of appointing an agent (as well as coagents and successor agents if desired), providing special instructions regarding the authority bestowed, and issuing an automatic termination date. Once signed and acknowledged by two (2) witnesses and a notarial officer, the instrument will become active, and the appointed party (attorney-in-fact) will be authorized to act as the principal in regard to subjects listed within the content of the document.

Laws

Statute – § 17-112(a)(2)

Definition – “Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term “power of attorney” is used (§ 17-101(d)).

Signing Requirements – Acknowledgment of Two (2) Witnesses and Notary Public (§ 17-110)