eForms Logo

Minnesota General (Financial) Power of Attorney

A Minnesota general (financial) power of attorney form allows a person to appoint a trusted friend or relative to handle their general financial affairs on their behalf. This is done when someone anticipates being away or unavailable or simply prefers that their appointed agent act on their behalf when it is necessary and convenient.
4.6 Stars | 21 Ratings
Downloads: 442

Laws

  • Durable – A power of attorney is durable if it contains language such as “This power of attorney shall not be affected by incapacity or incompetence of the principal” or “This power of attorney shall become effective upon the incapacity or incompetence of the principal,” or similar words showing the intent of the principal that the authority is not terminated by the principal’s later incapacity or incompetence[1]
  • Incapacity – Means an individual who, for reasons other than being a minor, is impaired to the extent of lacking sufficient understanding or capacity to make personal decisions, and who is unable to meet personal needs for medical care, nutrition, clothing, shelter, or safety, even with appropriate technological and supported decision making assistance.[2]
  • Signing Requirements – To be valid, a power of attorney must be dated and signed by the principal. If it is signed on behalf of the principal, the signature must be acknowledged by a notary public. Although not required in Minnesota, notarization is recommended as some institutions will only accept a notarized document.[3]