Maine power of attorney forms allows an individual to legally authorize agents or attorneys-in-fact to act on their behalf. The individual being represented by the agent is referred to as the “principal.” In all financial matters, an attorney-in-fact is required by law to act in the principal’s best interests and cannot compensate themselves unless instructed to do so. Powers of attorney can also be used to assign agents to represent the principal if they are unable to represent themselves due to incapacitation from accident, illness, advanced age, or any other cause.
Laws – The Maine Uniform Power of Attorney Act Title 18A, Article 5, Part 9
A Maine durable power of attorney form allows individuals to appoint a representative to deal with any and all of their financial matters in the event of their incapacitation. The agent must be capable of running or closing any businesses the principal owns, in addition to managing their investments. Durable powers of attorney either become active in the instance of the principal’s incapacitation or from…
A Maine limited power of attorney form allows for a resident to assign special tasks or duties to someone else. Typical tasks include accepting mail on another’s behalf, property transactions, and real estate closings. Other possible tasks could be picking up a vehicle or any other monetary activity. Contracts typically become void once the specific tasks have been completed. Otherwise, a termination date should be…
A Maine medical power of attorney form (called the “advance directive” form) consists of two separate documents: the living will and the durable power of attorney for healthcare. In the living will, the principal must enumerate the types of health care procedures that they do and do not consent to receive, as well as the circumstances in which those decisions apply. Appointing an Agent With…
A Maine general power of attorney form is a contract that appoints an individual (attorney-in-fact) to handle any and all monetary decisions on the principal’s behalf. All actions must be made for the principal’s benefit and the attorney-in-fact may not be compensated unless the principal has agreed to this. The form becomes invalid if the principal becomes incapacitated, or incapable of making their own decisions….
A Maine minor power of attorney form enables parents to assign a third party the right to make educational and medical decisions for their minor child. This type of authorization is usually used when the parent is absent due to work, military service, training, or other important obligations. The contract may not last longer than 12 months, after which a new form must be completed…
A Maine tax power of attorney form (2848-ME) allows residents to hire a professional accountant or tax attorney to prepare and file their state taxes. Typically this is an accountant or tax attorney but can be any person. The contract is typically attached to the tax filing. If the tax agent isn’t a professional accountant or attorney, the principal must have their signature acknowledged by…
A Maine real estate power of attorney allows an individual to choose an agent to manage their real estate and perform other related transactions. The agent will have legal authorization to act on behalf of the principal (the person delegating responsibility) and execute any task indicated in the power of attorney so long as it is permitted by law (§ 5-934). The responsibilities of the…
