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The Minnesota Durable (Financial) Power of Attorney deals with the conveyance of authority regarding the principal’s (person granting the powers) finances and property. Users of this form will have the ability to select from an array of broad powers that can be delivered to an agent so that they may perform tasks on the behalf of the primary individual. The executor of this instrument should recognize that it remains functional even if they enter a state of incapacitation. Interested parties may accomplish a binding document by entering the requested information, choosing the desired powers, and signing/initialing within the appropriate sections.

Laws

Statute – § 523.07

Definition – “As used in this chapter, ‘power of attorney’ means a validly executed power of attorney.” (523.03(3))

Statutory Form – § 523.23

Signing Requirements – In the case of a signature on behalf of the principal, by another, or by a mark, the acknowledgment of a notary public is required (§ 523.01). Even if the principal signs the document directly, it is still recommended to have the document notarized.

Termination – § 523.08