 | Maryland General Financial Power of Attorney Form |
The Maryland General Financial Power of Attorney Form is a legal document that would be prepared by a Principal to designate an Agent to transfer unlimited powers over the Principal’s financials in the event of illness or absence. This document will become effective upon the completion and notarization of this form. The powers will not stay in effect if the Principal becomes incapacitated or disabled. This document will, in fact, protect and retain the Principal’s rights to remain in control of their finances for as long as they are able.
The Principal may include limitations and/or restrictions. The Agent should approach this document with the intention of acting as if the Principal were present at all times and do their business always in the best interest of the Principal.
This document must be notarized and attested by two (2) witnesses. The Principal may revoke this document at their own discretion.
How to Write
1 – Prepare the Document
This form may be obtained using the PDF button near the top of this page. Since this is a PDF document, a PDF program or a browser that is form friendly will be required to enter information on-screen. If such a program is not available, this form may also be printed then manually filled in.
2 – Important Information
The initial paragraphs in this document will provide some important information regarding the nature of the authority being granted, along with some additional facts regarding this form and its execution, that should be kept in mind. The Principal should read the following sections:
- I. Notice
- II. Incapacitation
- III. Revocation
- IV. Witness and Notary
3 – The Parties
The first item requiring attention will be Item “V. Principal.” The Principal will be defined as the individual who will grant authority over his or her financial matters to the Attorney-In-Fact by executing this document. Supply the appropriate information to the blank spaces bearing the labels:
- Name of the Principal
- Street Address of Principal (this must be the Building Number, Street Name, and Unit Number)
- City of Principal
- State of Principal
Next, locate the section titled “VI. Attorney-In-Fact.” This individual(s) is defined as the person receiving and assuming the Principal Power over the Principal’s finances through the execution of this document. This will require the appropriate information to be supplied to the blank spaces designated as:
- Name of Attorney-in-Fact
- Street Address of Attorney-in-Fact
- City of Attorney-in-Fact
- State of Attorney-in-Fact
- State (this is the state in which the document is being executed)
The “VII. Successor Attorney-in-Fact (Optional)” section should only be tended to if the Principal wishes to designate a Successor Attorney-in-Fact. This individual is the entity who assumes Principal Authority, if the Attorney-in-Fact (named in Item VI) cannot fulfill his or her responsibilities in the Principal’s instructions. This section is not a requirement for the execution of this form, however if the Principal has decided to enact this option, then report the requested information in the blank spaces titled:
- Name of Successor Attorney-in-Fact
- Street Address of Successor Attorney-in-Fact
- City of Successor Attorney-in-Fact
- State of Successor Attorney-in-Fact
- State (enter the State where this document is executed)
4 – Additional Disclosures
All parties concerned should read and understand the next few sections:
- VIII. Terms and Conditions
- IX. Third Parties
- X. Compensation
- XI. Disclosure
5 – Required Signatures
The Signature sections should only be signed before a Notary Public. To begin, locate the section named “XII Principal’s Signature.” This will contain a paragraph the Principal must read and agree with. The Principal will need to supply several required items:
- The Principal’s Name on the space labeled “Printed Name of Principal”
- Date the signature entering the Calendar Date on the “Day” line and the Month/Year in “Month” line
- The Principal’s Signature on the line labeled “Signature of Principal”
The “XIII Attorney-In Fact’s Signature” section will require three items to be provided:
- Printed “Name of Attorney-In-Fact”
- The “Signature of Attorney-In-Fact”
- The “Date” this document was signed
If there is a Successor Attorney-In-Fact’s Signature there will be an area where this entity may acknowledge this appointment by presenting the appropriate items in the spaces provided:
- The “Name of Successor Attorney-in-Fact”
- The “Signature of Successor Attorney-in-Fact”
- The “Date” of Signature
6 – Notary Acknowledgement
When the Notary has has the opportunity to witness all of the signatures, they will then enter all of their required information that would acknowledge the document
7 – Acknowledgement and Acceptance of Powers by Agents
The Attorney-in-Fact must locate the paragraph titled “Acknowledgment and Acceptance of Appointment as Attorney-in-Fact.” This paragraph will require the Attorney-in-Fact:
- Supply his or her name on the first space
- Sign the “Signature of Attorney-in-Fact” line
- Date their signatures in mm/dd/yyyy format on the adjacent line
The Successor Attorney-in-Fact must tend to the “Acknowledgment and Acceptance of Appointment as Attorney-in-Fact” statement. The Successor Attorney-in-Fact must:
- Print his or her Name
- Provide his or her Signature “Signature of Attorney-in-Fact” line
- Report the Date he or she signed this document
8 – Witness Attestation
Both witnesses must read the information provided under the heading “Witness Attestation” then satisfy the requirements of that statement:
- Enter the printed names of each witness in the same paragraph
- Each witness must provide a signature
