Maine Durable (Financial) Power of Attorney Form
The Maine Durable (Financial) Power of Attorney (POA) is a legal document that carries a number of notable features. Namely, it allows for:
- An individual (called the Principal) to nominate another party (called the Agent) to handle one or more financial affairs for them.
- The Agent to receive certain decision making powers from the Principal that make it possible to lawfully act on their behalf.
- The Agent to continue to exercise their powers even in the event of the Principal’s incapacity (in line with the “durable” nature of this form).
State Laws & Signing Requirements
Signing Requirements (§ 5-905) – Acknowledgement of the Principal’s signature by an authorized party (such as a Notary Public) is the only requirement stated for a Durable (Financial) Power of Attorney Form created in Maine.