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What Is a New Mexico Power of Attorney?

A New Mexico power of attorney is a legal form that acts as the authorization for an individual, known as an agent or an attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting this authority. A New Mexico POA is most commonly used in estate planning, but there are many other instances when a POA is a useful tool.

Quick Reference:

The person granting permission is referred to as the principal, donor, or grantor.

The person receiving authorization is known as the agent or the attorney-in-fact.

NM POA Laws:

New Mexico power of attorney forms must comply with Title 45 of New Mexico’s Uniform Power of Attorney Act. These statutes specifically outline the parameters of a legally enforceable power of attorney and ensures that the form, as well as its duties are protected under the law. Here are some of the state’s power of attorney requirements:

  • The principal must be a legal adult of sound mind and understand what they are signing.
  • The power of attorney must be in writing.
  • Depending on the type of POA chosen, once signed, the agent would immediately have the ability to act within their specific powers.
  • The principal's signature must be witnessed by a notary public as evidenced by a PDF of a New Mexico statutory power of attorney provided by the University of New Mexico School of Medicine's Continuum of Care Project.

A principal may designate which powers the agent does and doesn’t have the ability to exercise. The principal also has the right to include an expiration date inside of the power of attorney as well as to revoke the document. Revoking the power of attorney can take place as long as the principal is competent. There are additional ways that a power of attorney is terminated according to New Mexico’s Uniform Power of Attorney Act. Here are a few:

  • The principal becomes incapacitated and the POA is not durable.
  • The principal dies.
  • The POA’s purpose is fulfilled and the expiration date within the document has passed.
  • The agent dies, becomes incapacitated, or dies and there is no successor agent or co-agent.
  • The agent and principal are divorcing or legally separated.

Why Would You Use a New Mexico Power of Attorney Form?

There are many reasons why someone would use a New Mexico power of attorney form to give someone the authority to make decisions related to their tangible personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:

  • Their age, mental health reasons, and illnesses. They may desire to have their affairs handled in specific ways. It is generally advised that everyone, including those with a terminal illness and those in perfect health, establish the proper power of attorney to have their matters appropriately handled and their wishes fulfilled.
  • A person with a mental illness may require a different type of power of attorney than a person with a terminal condition.
  • A person with dependent children may require a different power of attorney than a person who does not have dependent children.

Each person’s power of attorney needs may vary depending on their circumstances. Thankfully, there are several types of power of attorney documents. Before determining which power of attorney document to use, you should seek legal advice. Ask about which POA is best to suit your needs as well as how to revoke the document should it become necessary for you to do so. Here are the most common power of attorney form types used in New Mexico.

General Power of Attorney

A general power of attorney grants an agent the ability to make decisions on behalf of the principal.

  • A general power of attorney does not have to be used for finances. The principal could choose to use it to allow the agent to only handle real property and have nothing to do with retirement plans, for example. Although it is a general POA, the principal can still decide how the agent can and cannot act. However the authorization is terminated if the principal become incapacitated, if they die, or if the principal revokes the document.

New Mexico Durable Power of Attorney

A New Mexico 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.

  • The term "durable" comes from the fact that this authorization continues over the principal if they are declared incapacitated.

Limited Power of Attorney

A limited power of attorney is also known as a special power of attorney. It grants limited power to whatever the principal specifies.

  • In many cases, an agent will have power to handle finances through financial institutions or make medical decisions, but will not have authority to do other things such as sell tangible personal property (depending on what the principal decides). Just like a special power of attorney, the authority terminates if the principal dies, becomes incapacitated, or if the document is revoked. This type of POA also generally has an expiration date within it and expires at that time.

Medical Power of Attorney

A medical power of attorney allows the agent to make healthcare decisions on behalf of the principal. However, it is not the same as an advance health care directive or a living will.

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 case that the parent may not be present during a medical emergency.

  • This form is generally used if the parent or guardian must leave the country for a period of time or if the child is temporarily traveling with or living with another adult.

Real Estate Power of Attorney

A real estate of power of attorney grants power to the agent to buy, sell, and manage real estate on behalf of the principal.

  • Because this type of POA may be either durable or non-durable, seek legal advice before you enter into it.

Tax Power of Attorney

A tax power of attorney, officially known as Form ACD-31102 allows the agent who is usually a qualified individual such as an accountant, to prepare and submit tax information to the Taxation and Revenue Department on behalf of the principal.

  • This power of attorney also allows the agent to answer questions asked by the Taxation and Revenue Department as well.

Vehicle Power of Attorney

A vehicle power of attorney, officially known as Form MVD-11020, allows the agent to buy, sell, and handle the necessary paperwork with the New Mexico Department of Motor Vehicles on the principal's behalf.

Download a PDF or Word Template

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