![]() ![]() This can include everyday tasks like paying bills or more complicated financial concerns like selling or buying real estate.Ī financial power of attorney can take effect immediately upon signing, or its powers can be “springing,” which means they take effect upon the occurrence of some future event (such as the incapacity of the principal). Financial Power of AttorneyĪ financial power of attorney is a document that gives someone else the ability to oversee your finances. Despite that, you can name the same agent in both documents. You, the person giving the power of attorney, are known as the principal, while the person to whom you grant the authority is known as the agent or attorney-in-fact.Ī medical power of attorney and a financial power of attorney are generally separate legal documents, each with its own responsibilities and governed by applicable state laws. Generally speaking, a power of attorney (POA) is a document that allows another person to make decisions on your behalf. These decisions might include whether to admit you to long-term care, specific treatments you want or don’t want to receive, and who can access your medical records. In that event, you’ll need to have an agent appointed under medical and financial powers of attorney to make those crucial decisions on your behalf. Vehicle Power of Attorney (Form MV65)– This form allows you to appoint someone to represent your interests concerning your motor vehicle in front of the Motor Vehicle Division.There may come a time when you’re no longer capable of making decisions regarding your own finances and personal health. Tax Power of Attorney Form – This form allows your tax professional to make filings and obtain information on your behalf from the tax authorities. Real Estate Power of Attorney – For handling real property such as closing (sale), purchase, or management on behalf of a landlord. In addition to executing a revocation, it is imperative that you inform your agent and any entities using it that you have revoked it. Revocation of Power of Attorney – This form revokes any previously executed power of attorney. Minor (Child) Power of Attorney – This form appoints another adult to make decisions on behalf of your children when you are not available. Signing Requirements ( § 50-9-103): Two (2) witnesses. It allows you to appoint a person to represent your medical interests for when you cannot represent yourself. Medical Power of Attorney – This form is for health purposes. Limited Power of Attorney – This form is for use if you have a limited, specific transaction or time period for which you need someone to stand in your place. General (Financial) Power of Attorney – Allows financial powers to be given to another person except if the person giving power becomes incapacitated. ![]() Signing Requirements ( § 72-31-305): Notary public. By Type (9)ĭurable (Statutory) Power of Attorney– This allows financial powers to be given to someone else and remains valid in the event of incapacitation by the principal.ĭownload: Adobe PDF, MS Word, OpenDocument Once a power of attorney is completed and signed, the agent may use it immediately. The person giving authority (“principal”) has the option to transfer financial, medical, or any other type of affair handled by the representative of their choice (“agent”). Montana power of attorney forms are documents that allow a person to designate another person to make decisions on their behalf.
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