Unfortunately, there have been instances of agents who proved to be untrustworthy and misused money belonging to the principal. The major risk for the principal is the possible dishonesty of the agent. However, those with complicated finances or special circumstances may wish to consult with an attorney. The statutory form may be suitable for many Montanans. Jack’s POA limits his wife’s actions to those two transactions only.Ī POA document can be created by using the statutory form referred to in this MontGuide or by having an attorney prepare one. He also authorized her to redeem a certificate of deposit titled solely in his name that will reach maturity while he is out of the country. Jack (principal), a Montana National Guardsman who has been deployed overseas, signed a POA that gives his wife (agent) authority to sell their home. Sara signed a POA to give authority for her daughter to perform not only these types of actions, but also to make any other financial decisions for Sara in the future. Sara (principal), a homebound elderly mother who becomes agitated and stressed when confronted with financial decisions, wanted her daughter (agent) to have the authority to write checks to pay for groceries, medicine and other personal items for her. The agent can sign legal documents when the principal is unavailable, when the principal prefers the convenience of having someone else sign, or when the principal becomes incapacitated. With a POA a person (principal) can designate another person (agent) to act on the principal’s behalf. Statutory forms are available to download on this website and at the MSU Extension Estate Planning website under the Power of Attorney MontGuide at Why have a Power of Attorney (POA)?
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