The 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 the moment that they are created. It is important to note that in Maine, financial powers of attorney aren’t automatically terminated upon divorce (if the agent is the principal’s spouse).
Laws – § 5-902(b), § 5-904, and § 5-905(b)
Signing Requirements (§ 5-905(a)) – Notary Public
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