Maine General (Financial) Power of Attorney

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A Maine general power of attorney allows a principal to appoint an agent to handle their financial matters in the event they are unavailable or incapacitated. This appointment of authority can be set to terminate when a physician determines the principal as incapacitated. This option is often considered a matter of security since the principal may not wish the agent to retain power if they are not available for instructions. In such a case the principal can set this document to automatically become void and ineffective. If a principal is looking to have a POA in effect during their incapacity, they should use the Maine durable power of attorney form instead.


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1 – The Title And Introduction Will Need Several Definitions To Compliment The Required Language

It is imperative to the purpose of this paperwork the Principal granting the Powers defined within be definitively identified. In addition to this, the Agent being designated or appointed with the Principal Powers here must also be positively identified. This will be done by recording the Full Name of the Principal, the Attorney-in-Fact, and each one’s Residential Address.

The first blank space, just after the word “Of,” in the title must have the Legal Full Name of the Principal entered.

The first blank line in the introduction will also need the Legal Full Name of the Principal entered onto the first blank line. Then on the second blank line, enter the Complete Street Address where the Principal resides. The third blank line must have the name of the State where the Principal lives recorded. The empty space after the word “…designate,” will require the Attorney-in-Fact’s Legal Name filled in on it. The Attorney-in-Fact’s Street Address, where he or she lives, must be entered on the second blank space after the word “…designate.” Finally, on the third blank space after the word “…designate,” should have the name of the State where the Attorney-in-Fact resides.

2 – The First Article Will Provide A List For The Principal’s Approval

There will be several articles in this document, each providing the structural framework required to carry out a required purpose. The first article will contain a numbered list of topics which will apply to the Principal’s life. While this list is provided so that each of the defined Authorities may be delegated to the Attorney-in-Fact, only the numbered statements initialed by the Principal will grant the Powers they define to the Attorney-in-Fact.

The first item, “Power to Make Payments or Collect Monies Owed,” must be initialed by the Principal if the Attorney-in-Fact will be empowered to make or collect any payments on behalf of the Principal using Principal Power.

If the Attorney-in-Fact must have the Principal Power to Buy, Sell, or Lease any of the Principal’s Personal Property, the Principal will need to initial the second blank space (just before the Number 2).

The third paragraph, labeled “Power to Acquire, Lease and Sell Real Property,” will enable the Attorney-in-Fact to deal with the Principal’s Real Property in the manner it defines. If the Principal wishes to approve these actions for the Agent, then he or she must initial the empty space preceding the Number 3.

The “Management Powers” statement in item four will deliver the Attorney-in-Fact with the Authority to manage the Principal’s Affairs in the Principal’s Name. The Principal will need to initial the blank space just before the numbered item “4. Management Powers.”

The “Banking Powers” defined in item 5 will empower the Agent with the ability to represent the Principal with Financial Institutions.

The “Motor Vehicles” statement in paragraph six will define what the Agent may do in relation to the Principal’s Motor Vehicles. If the Principal wishes to allow the Agent these Powers then he or she should initial this statement.

In paragraph seven, the Principal will be able to delegate the “Tax Powers” to the Agent by initialing the empty line just before “7. Tax Powers.”

The Principal’s “Safe-Deposit Boxes” will be accessible once the Principal initials item eight.

The Attorney-in-Fact will be empowered with the same “Gift Making Powers” defined in item nine, once the Principal initials the blank space provided.

Item ten will need be initialed by the Principal if the Agent should be granted the Power to Lend and Borrow in the name of the Principal.

If the Attorney-in-Fact must have the Power to deal with “Contracts” in the name of the Principal, paragraph eleven will need to be initialed by the Principal.

The “Health Care” statement empowers the Attorney-in-Fact to handle the admission of the Principal into Health Care institutes when it is initialed by the Principal.

The thirteenth item, “HIPAA,” grants the Agent the Power to personally represent the Principal under the Health Insurance Portability and Accountability Act of 1996.

If the Principal intends to grant the Agent the ability to hire and pay professionals for services needed by the Principal (in the name of the Principal), the Principal will need to initial “14 Power To Hire And Pay For Services.”

Item fifteen allows for the Attorney-in-Fact to seek reimbursement for his or her services. The Principal may allow this action if he or she initials the blank space before “15. Reimbursement of Attorney-in-Fact.”

The ability to sue third parties that have decided not to acknowledge the Powers assigned to the Attorney-in-Fact by initialing “16. Power To Sue Third Parties Who Fail To Act Pursuant to Power Of Attorney.”

“17 Other” provides several blank lines so the Principal may give the Agent Powers not defined in this list. If there are such Powers, document them on these blank lines and initial the blank space preceding the Number seventeen.

3 – A Period Of Effect For This Document Must Be Named

The next article requiring personal attention and information will be the third one. Here, we will need to deliver the Principal’s preferences as to when the Powers in this document will be delegated and usable by the Attorney-in-Fact. This article will define the starting date or event and the termination date or event through the Principal’s approval. This approval will be provided once the Principal initials the statements that apply.

If the Principal wishes the Agent to be able to use his or her Principal Powers once this document is signed, then he or she should initial the blank space preceding the words “Upon the date of this document. If the Principal has a specific date when the Agent may use Principal Powers, then he or she should initial the space before the words “The following date…” and enter the exact date the Principal wishes these Powers to go in effect. The Principal may name a Calendar Day when these Powers may terminate by initialing the blank space before the words “On the following date” then entering the Date of Termination in the space provided. If the Principal expects these Powers to be valid until he or she revokes this document’s effect, the Principal will need to initial the blank space before the words “When I have made…”If the Principal prefers the Powers in this document to remain in effect unless he or she is declared unable to make decisions by a Physician or Court, then he or she should initial the third blank line.


4 – Third Party Entities Require The Grantor Signature For Their Reliability

Institutions the Principal expects to honor this document will require some manner of proof from the Agent that he or she acts with Principal approval. This proof will be served through the Dated Signature of the Principal along with the verification of a Notary Public. Here, we will deal with the Principal’s duty to verify.

The Principal should review this entire form after it has been filled out carefully before entering the Date in the last statement in this paperwork. This must be the Date he or she is signing this document.

Next, on the blank line below the words “Principal’s Signature” the granting Principal will need to sign his or her Full Name. After providing the Signature, the Principal must then print his or her Name on the blank line labeled “Principal’s Printed Name.” 


5 – Additional Signatures Must Be Presented With The Principal Signature

The next section, after the Principal’s Signature, has been included so the Attorney-in-Fact may show that he or she has received and agrees to the delegation this paperwork names to him or her. This will be done in a testimonial that must be signed as well. A Notary Public will have a separate area to provide validation that each signature was made in good faith by the signature party.