A useful legal instrument designed to endow one person with authority to have control over another person’s business and money-related affairs in the event of the latter becoming unable to deal with them on their own. Hence, the Maryland durable power of attorney form comes in handy whenever a resident of the state of Maryland needs to entrust their financial deals to another individual. So it is crucial to choose a time-proven friend or relative for this role. Such a juridical document is also used when the principal (the rights’ grantor) is physically absent in the country but needs their monetary matters to be managed. This type of power of attorney template is called “durable” since it remains effective (or comes into force) upon the grantor becoming incapacitated. It implies that if an individual loses their physical and/or intellectual ability to take important decisions, the allocated agent (the one who is granted authority) still may act in your name.
However, the principal cannot and should not present their attorney-in-fact with all financial powers. It is highly recommended to carefully read through all the details featured in the durable POA form before completing and signing it. If the proxy form’s correctness is questionable, the grantor has the right to address a licensed lawyer for a consultation. A durable proxy obliges the agent to fulfill the principal’s wishes and directions given in the legal paper for a specified period when applied appropriately.
Thus, the private attorney has the power to manage the following money-involving assets:
- Real estate
- Shares and stocks
- Accounts in financial establishments (banks and others)
- Insurance and pension
- Demands and legal proceedings
- State allowance
- Benefits from civil or military service
- Pension assets
- Taxes, etc.
Maryland power of attorney forms – get more power of attorney templates for Maryland together with instructions.
In Maryland, a durable POA form must be drawn up following the Maryland Power of Attorney Act (Title 17). This statute defines a legally binding proxy’s parameters and guarantees that such a form, along with its obligations, is protected by law. You may also have a look at a good example of the durable power of attorney form for Maryland citizens (or the Form 548).
As for the signing requirements, all the signatures put on this legal document should be recognized by a state notary. The Maryland durable POA must be certified and signed by at least two adult witnesses (in the presence of the grantor and each other). Maryland POA’s laws allow the notary to act as one of the witnesses. The grantor can decide on their proxy’s effective date or let it take effect immediately upon creation. This vital documentation might be annulled upon the principal’s request.
Filling out the Maryland Durable POA
Of course, not every resident of Maryland has experience of dealing with such a proxy form. For this reason, we provide every interested user with a highly customizable sample of a Maryland durable POA to help them out with the completion process. Our top-notch templates can be downloaded in all popular formats of electronic documents – .doc (.docx), .pdf, and .odt.
Now let’s find out what steps you should take to complete your Maryland durable power of attorney form.
Appointment of the Private Attorney
Before filling out the durable proxy form for Maryland, this juridical document’s creator must closely examine the intimal statement at the beginning of the form. After that, the grantor should right their full name and indicate the full name of the assigned attorney-in-fact.
Next, both parties must specify their full home address, telephone number, and e-mail address.
Sometimes, it is possible to appoint a successor agent who will assume the responsibility entrusted to the agent if your “first option” cannot perform their duties according to the grantor’s will. Thus, to allocate a successor private attorney, their full name, alongside residential address and telephone number, should be indicated in the particular area of this POA form. Besides that, the principal has the chance to designate another successor attorney-in-fact or, namely, the second successor agent. The name of this individual, their address of residence, and phone number must be specified correspondingly.
Provision of General Authority
In this section, the owner of a durable proxy for Maryland citizens should define the selected agent’s scope of authority. That is, what legal powers they have, what actions and decisions concerning the grantor’s property and wealth they are allowed to take.
Additionally, the principal must indicate the areas of life in which the allocated attorney-in-fact will have great authority. The Maryland durable POA creator might also extend or limit the powers granted to their private attorney. Any critical terms and conditions and/or particular instructions should be mentioned in this section.
Signing and Recognizing the Form
First of all, the grantor and their agent (and one or two successors) must put their signatures on this legal document below the personal information they provided.
After that, the notary public must acknowledge this legal paper by confirming all signatures and filling out the section where additional notary information is required. Once it is done, the state notary seals the document and signs it.
Since a couple of witnesses must be present at the creation and validation of a Maryland durable proxy, they have to provide their full names and signatures where it is specified in the form.
Other Maryland Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- CO durable power of attorney
- Florida durable power of attorney
- Georgia durable POA
- Illinois durable POA document
- Indiana durable power of attorney
- Kansas durable POA for financial matters
- MA durable power of attorney
- Michigan durable power of attorney
- Missouri durable POA form
- NJ durable power of attorney
- NY durable power of attorney
- NC durable power of attorney
- Ohio durable POA for financial matters
- Oklahoma durable POA form
- Oregon durable power of attorney
- Pennsylvania durable POA form
- SC durable POA for financial matters
- Tennessee durable power of attorney
- Texas durable power of attorney
- Virginia durable POA form
- WA State durable power of attorney