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A Maine power of attorney is a legal document that acts as the authorization for a person, referred to as the agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting this authority. A Maine POA is most commonly used as an estate planning tool, but there are many other instances when it is a useful tool.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authorization is referred to as the agent or attorney-in-fact.
A Maine power of attorney must comply with the Maine Uniform Power of Attorney Act found in Maine Revised Statutes Title 18A. This act specifically outlines the parameters of a legally enforceable power of attorney. It ensures that the form, as well as its duties, are protected under the law. Some of its requirements include:
The principal can specifically state which powers the agent can and cannot use on their behalf. The principal can revoke (terminate) the power of attorney, even if it is durable, as long as they are competent. Additionally, the power of attorney is terminated when:
There are many reasons why someone would use a Maine power of attorney form to give someone else the ability to make decisions related to their tangible personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
The need for a power of attorney can vary from person to person. Thankfully, there are several types available. Before you decide to use one, seek legal advice to ensure you choose the best POA to meet your needs. You should also ask about how to revoke a POA in the event it becomes necessary. Here are the most commonly used Maine powers of attorney.
General Power of Attorney
A general power of attorney grants power to the agent to make decisions on the principal’s behalf.
Durable Power of Attorney
A durable power of attorney is an "extended version" of a general power of attorney because it goes beyond the parameters of a general power of attorney.
Limited Power of Attorney
A limited power of attorney grants limited power to whatever the principal specifies.
Medical Power of Attorney
A medical power of attorney grants power to the agent to make important healthcare decisions on the principal's behalf.
Minor Child Power of Attorney
A minor child power of attorney allows a parent or guardian to grant decision-making rights over their child to a temporary guardian in the event that the parent or guardian may not be present during a medical emergency.
Real Estate Power of Attorney
A real estate power of attorney grants power to the agent to buy, sell, and manage real estate on the principal's behalf.
Tax Power of Attorney
A tax power of attorney, officially known as ME-2848, allows the agent, generally, a qualified individual such as an accountant, to prepare and submit tax information and tax matters with the Department of Administrative and Financial Services, Maine Revenue Services on behalf of the principal.
Vehicle Power of Attorney
A vehicle power of attorney allows the agent to buy, sell, and handle the necessary paperwork with the Maine Bureau of Motor Vehicles on the principal's behalf.
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