Free Maine Durable Power of Attorney Forms
Most powers of attorney (POAs) lose their authority when the principal, or the person who signs the document, becomes incapacitated. For those who want to delegate authority that continues even if/when they are unable to attend to their affairs, a durable power of attorney is often necessary.
A durable POA is a legal contract that allows a person or principal to assign an agent, also known as an attorney-in-fact, to make decisions and transact as a representative of the principal. Their list of responsibilities often includes signing paperwork, paying bills, withdrawing money, and completing other legal and financial transactions even after the principal is legally declared incompetent or unable to make decisions on their own.
Maine Durable Power of Attorney Laws
Maine Uniform Power of Attorney Act - This statute provides guidelines on how powers of attorney are written and implemented in Maine. According to the law, a POA is durable because it is “not terminated by the principal’s incapacity” (18-C ME Rev Stat § 5-902.2).
Signing Requirements in Maine
The principal must sign the document, which acts as the agent’s authority to make decisions on behalf of the principal. If the principal is unable to sign the document physically, another person who is not the agent can sign on their behalf as long as they have permission from the principal.
The form becomes legal when it is acknowledged by a notary public. “A power of attorney is not valid unless it is acknowledged before a notary public or other individual authorized by law to take acknowledgments” (18-C ME Rev Stat § 5-904).
How To Write a Durable POA in Maine
The durable POA serves as the agent’s written permission to make decisions for the principal. This excludes healthcare-related matters. Here are the steps to creating one:
1. Select an Agent
Find a person you trust with your business, finances, and other important matters. In many cases, the principal chooses their kin. This may be a spouse, romantic partner, or a child who isn’t a minor. You can appoint one of them as the principal or main agent, while others can be co-agents. The principal agent will make the final decisions, while the coagents can step up when the agent is not available.
Some principals may prefer someone they share professional ties with to be their agent. For example, a business partner or company lawyer.
2. Discuss the Powers With Your Agent
Once you have selected your agent, discuss the authority you wish to grant. This is crucial because even if the agent has the power to decide for you, the decisions are still limited to what you want them to do. Be as specific as possible with your preferences.
You may also want to discuss compensation. Although it isn’t mandatory, it is customary to offer agents compensation for their services. They may also be reimbursed for expenses they incur when they carry out their responsibilities.
3. Download a Maine Durable Power of Attorney Template
There are printable templates of durable POAs for the state of Maine online. Download one and make sure it follows the acceptable format. Fill it out with instructions your agent can use when handling business, financial, and legal matters for you. Review your document and be thorough to ensure that your instructions leave no room for confusion or ambiguity.
4. Sign the Document and Have It Notarized
Sign the document. The Maine durable POA must be acknowledged by a notary public to be considered legal and binding. If, for some reason, you cannot sign the document yourself, ask somebody else to sign for you. There must be clear instructions that the representative is authorized to sign on your behalf.
5. Use the Form
The agent can start using the form. Remember that the authority bestowed will remain valid even if the principal is declared legally incompetent. The agent must bring a copy of the agreement with them at all times to show that they have been appointed as your official representative.
When signing documents, the agent must first write the principal’s name followed by the word “by” and the agent’s name and signature. They should also clearly write that they are your “attorney-in-fact.”