With a Minnesota durable power of attorney form, individuals may 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 in a moment’s notice. As long as the principal remains mentally competent, they can revoke the agreement at any time by issuing a power of attorney revocation. The powers that the agent may perform can include real property transactions, banking, business operations, gifts, reports, and statements.
Durable definition – § 523.07
Laws – § 523.23
Signing Requirements (§ 523.01) – Notary Public