 | Minnesota General Financial Power of Attorney Form |
The Minnesota general financial power of attorney form is a document that will permit a Principal to specify powers that the Principal would like to grant to an appointed Agent. The Agent would handle the financial aspect of the Principal’s estate during any illness or necessary absence. Although the Agent will be granted unlimited powers with this document, the Principal shall maintain their ability to continue caring for their finances as long as they are able to do so. As well, the Principal will be able to specify the commencement date of the document. The powers to the Agent will not remain in effect should the Principal become incapacitated.
This document will not provide powers for the Agent to have the authorization to make medical decisions on behalf of the Principal The Principal may restrict or limit powers with regard to this authorization. The Principal may revoke this document at any time they wish by either, creating a new document or by placing notice into writing and having the document delivered or served to the Agent. All signatories must be present and submit signatures before a licensed notary public.
How to Write
Step 1 – Titled Sections – The Principal must begin by reading the following titles:
- Notice
- Incapacitation
- Revocation
- Witness and Notary
Step 2 – The Parties – Enter the following:
- The name of the Principal
- The Principal’s physical address
- City of the Principal’s residence
- State
- AND
- The Agent’s full name
- The Agent’s Complete Address
- The Agent’s City of residence
- State
- AND – The Principal may wish to appoint a Successor Agent should the the initial Agent become unwilling or unable to provide service in the role of Agent, on behalf of the Principal
- Enter the name of the Successor Agent (Optional)
- Provide the Successor’s Complete Address
- City of residence
- State
- The state in which the document shall be executed
Step 3 – Additional Titled Sections – The Principal must review the following:
- Terms and Conditions
- Third Parties
- Compensation
- Disclosure
Step 4 – Signatures – Signatures must be entered before a Notary Public – Entered the following:
- The printed name of the Principal
- Date of Signature in dd/mm format
- Principal’s Signature
- AND
- The Agent’s printed name
- Review the remainder of the information provided
- The Agent must submit their signature
- Enter the date the signature in mm/dd/yyyy format
- AND
- Enter the printed name of the Successor Agent
- Review the remainder of the information’
- Submit the Successor Agent’s Signature
Step 5 – Notarization –
Once the Notary has witnessed all of the signatures, they shall then provide all of the state required notary public information and the notary shall affix the notary’s state seal (if any)
Step 6 – Acknowledgement and Acceptance of Appointment of Agent(s) – Initially selected Agent as well, the possible Successor Agent, must enter the following information
- The printed name of each Agent
- Review the remaining portions of each section
- Both Agent’s must submit their signatures
- Both must date their signatures in mm/dd/yyyy format
Step 7 – Witness Attestation (OPTIONAL) – The witnesses must:
- Read the Attestation paragraph
- The witnesses must enter their printed names
- The witnesses must enter their individual signatures
