Maryland personal financial Power of Attorney Statutory form provides for you to propagate powers to an agent so that he/she is able to make decisions pertaining your property, inclusive of money in your place. The powers granted are viable whether or not you have the ability to act by yourself. The authority you hand to your attorney-in-fact continues until you die or terminate the POA or the agent resigns or is incapable of acting on your behalf, unless if stated otherwise.
Facts about Maryland personal financial Power of Attorney
- The form grants all powers listed on it. If you do not wish to give all the powers stated, then opt for Maryland Statutory Form Limited Power of Attorney
- Accord keenness when selecting an attorney-in-fact since the authorities granted are expansive and sweeping. Remember to choose a successor agent to replace your attorney-in-fact if he happens to quit.
- Effect of the POA is immediate after your signing, unless if you have specified when it becomes useful in the special instructions section. This document also allows you to designate a date when to terminate the POA.
- Read and understand the authorities you will be handing to your agent before you make any signing in the document.
- Notarization is vital for the legalization of this POA form.
How to get personal financial Power of Attorney in Maryland
- STEP 1: Name your chosen agent, and provide his/her address and telephone number.
- STEP 2: Designate a successor agent(s) if you find the necessity to.
- STEP 3: Give special instructions on the space provided on page 5 of the form.
- STEP 4: Sign off the document and date it, then add your printed name, address and telephone number on the slots provided on page 6.
- STEP 5: Allow your witness to attest on the form after its notarization.
Revocation of the Power of Attorney Form, Maryland
The personal financial POA stands canceled if:
- The principal dies
- The period of operation specified has expired
- The attorney-in-fact resigns, is unable or unwilling to act for you
- You revoke it through signing a revocation of power of attorney form.