Minnesota power of attorney forms can be used by individuals to appoint third-party representatives to act on their behalf. For financial representation, a power of attorney may give the agent either limited or unlimited authority to make decisions for the principal. Furthermore, the contract may have a set termination date, terminate if the principal is incapacitated, or remain effective even if the principal becomes mentally incompetent or incapacitated. The durable and medical power of attorney forms are used to appoint a financial or healthcare agent to handle money or healthcare decisions if the principal becomes incapacitated due to old age, illness, injury, or other medical reasons. All forms may be canceled or voided by authorizing a revocation form.
Laws – Chapter 523, Powers of Attorney
A Minnesota durable power of attorney form allows individuals to designate representatives to make monetary decisions and perform transactions on their behalf. The contract is “durable” because it is not affected by any period of incapacity or incompetence of the principal. It is important to choose an agent that lives near the principal so that they will be able to perform at a moment’s notice….
A Minnesota medical power of attorney form is used to appoint a healthcare agent that will be responsible for making decisions regarding the principal’s healthcare if they become incapacitated. The health agent should be an individual who understands the principal’s philosophies concerning healthcare and will be able to advocate those values in the presence of family and medical staff. In accordance with state law, the…
A Minnesota general power of attorney form, also known as the “non-durable power of attorney,” allows individuals to appoint representatives for monetary affairs. This type of arrangement is useful for individuals who are looking to have a third party handle any type of financial decisions or events on their behalf if they are not able or qualified to do so themselves. The representative is obligated…
A Minnesota limited power of attorney form allows individuals to assign authority to act on their behalf for a limited period of time or to perform a specific task. This contract is most commonly used to assign real estate attorneys to handle real property closings on the principal’s behalf. However, the document can be used to delegate any authority by the principal, such as picking…
A Minnesota minor power of attorney form is used by the parent(s) of a minor to appoint a guardian for their child. The guardian will be authorized to make decisions regarding the minor’s educational and medical needs for a period of up to one year. Parents will usually appoint a guardian during periods when they will be separated from their child due to work, travel,…
A Minnesota tax power of attorney form (REV184) allows for an accountant or tax attorney to file taxes on behalf of the principal. Although a professional tax agent is recommended, this form can be used to appoint any third party as a representative. The agent will be authorized to access the principal’s confidential information, as well as request and execute financial documents. Once the form…
A Minnesota power of attorney revocation form, in accordance with § 523.11, allows individuals to cancel or void an existing power of attorney contract. In addition to completing and filing the revocation form, the principal must forward a copy to give notice to the agent whose authorization is being revoked. Until such notice has been received and all relevant third parties have been informed of…
A Minnesota real estate power of attorney form is a legal tool used to designate authority to an individual for the management of real estate transactions. The party accepting authority (the agent) will have permission from the property owner (the principal) to perform specific tasks relating to their real estate. Depending on the principal’s needs, the agent may be asked to execute leases, negotiate rent prices,…
