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The Maine General (Financial) Power of Attorney is a customary POA document with the distinct feature of automatically terminating once the principal becomes incapacitated/disabled. Apart from this aspect, it offers all the same options you would find in your common durable POA. Grantors will be provided with a list of financial authorities that they can pick & choose from to deliver to their agent. These powers consist of subjects related to one’s personal finances, property, bills, taxes, etc. To properly establish a legally sound document, users must deliver the form with each party’s information, the types of authority that they wish to supply, and the terms of the overall arrangement. Following the completion of each section, Maine law requires that the issuing party sign the instrument while under the review of a notarial officer for acknowledgment purposes.

Laws

Statute – § 5-910(1)(B)

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 (§ 5-902(7)).

Signing Requirements – Acknowledgment of Notary Public (§ 5-905(1))