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New Mexico Durable (Financial) Power of Attorney Form

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Durable Power of Attorney in New Mexico provides a method by which a person can appoint another person to represent them and take action on their behalf with regard to managing property and assets. The durable type is often used when a person is seeking to plan for the future when there may come a time when he or she is considered to be mentally or physically disabled and unable to handle his or her own property. If properly prepared and executed, this form can provide peace of mind knowing that you have someone you trust in place to make sure your property and assets are handled properly. This is called a “durable” form because it continues to be in effect even if you are considered incompetent to make your own decisions.

Laws – § 45-5B-104

Health Care Power of Attorney & Directive – Used to appoint a trusted individual to make medical decisions for the Principal and to carry out their wishes as outlined in the document.

How to Write

1 – Access The New Mexico Paperwork To Designate Durable Authority To An Agent

The image on this page serves as a preview to this template while the buttons in the caption area will allow access to a downloadable version. You may use any of the file types displayed on these buttons. This form can be prepared live with the correct software or it can be printed then manually supplied with information.

2 – Detail The Roles Of The Principal And The Agent(s)

The Principal should make sure to read the “Notice” at the opening of this document. Immediately below will be a statement of declaration where the “Name” and “Address” of the Principal must be placed on the first and second blank lines (respectively). This statement will need the “Name(s) And Address(es)” of each Agent intended to receive and wield Principal Powers on the third blank space. The option to designate a Successor Agent has been presented in the next statement (“If Any Attorney-in-Fact…”). The blank space in this statement should be used to present the Name of a backup or reserve Agent that has Principal Approval to assume Principal Power should the Agent(s) named above be unable to.  The next two statements will deliver the Principal intention of keeping the Powers delivered here to remain in Effect unless he or she revokes them or dies and two nominate the Agent(s) above for the court’s consideration should it be determined the Principal must have a Court Appointed Guardian or Conservator. Either or both statements may be crossed out or removed if inapplicable. If more than one Agent will be appointed with Principal Power then, by default, they will have to wield this Authority jointly or working together. If the Principal wishes each one to wield Principal Authority independently of the other, then mark the checkbox attached to the statement starting with the terminology “If More Than One Person Is Appointed To Serve As My Attorney-in-Fact…”

3 – Deliver Principal Approval To Designate Various Types Of Authority

The next portion of this delegation presents the various divisions of Principal Power that can be granted to the Agent. The Principal should reserve enough time to review this list. Generally, it is recommended the Principal have a frank conversation with the Agent and qualified professional (i.e. an Attorney) before tending to this area. He or she will have to determine which Principal Powers should be given to the Agent then initial the divisions of Power here that adequately define the granted Power. Thus, if the Principal wishes to enable the Agent to wield Principal Powers with Real Property using the Principal’s Name, then he or she may wish to initial “1. Real Estate Transactions,” “5 Banking And Other Financial Transactions,” “7. Insurance And Annuity Transactions,” and any other line item that he or she wishes to include in the Agent’s Principal Powers. If the Principal does not wish to give his or her Authority to an Agent regarding an item(s) on this list, then that item(s) should not be initialed. At times, the Principal may wish to further define, limit, or extend the Principal Authority being delivered here. The empty lines under the heading “Special Instructions” have been included in this document to fully report such directives. If more room is required to define these Principal Provisions, then you may continue reporting them on an attachment. 

4 – Set A Date When The Agent’s Principal Powers Become Effective

The next checkbox statement shall define the Start Date of the Principal Power as being the same Date as a Physician’s diagnosis that the Principal has been rendered disabled or incapacitated and unable to make decisions or act regarding his or her own affairs. If this Date will be the desired Date of Effect, then mark the checkbox beginning with “This Power Of Attorney Shall Become Effective Only If I Become Incapacitated…” If the Start Date should be this document’s Principal Signature Date, leave this box unmarked.

5 – Verify This Paperwork With A Notarized Principal Signature And Affidavit

The final section of this template shall require a method where the Principal can execute the designation of Powers as defined above. To achieve this the Principal should sign the “Signature” line.

Below this, the Principal’s Social Security Number should be presented. This is optional, but it is recommended. Finally, the Principal must enter the Date he or she has placed his or her Signature and Social Security Number on the previous two lines. The Notary Public will use the “Acknowledgment” section to notarize the Principal Signing. A final tool used to verify the Principal’s intentions (defined in this form) is the “Affidavit As To Power Of Attorney Being In Full Force.” This area will also require the instruction and credentials of the Notary Public.