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Content Overview

Form Breakdown

Fact Name Description
Definition A Durable Power of Attorney allows an individual to appoint someone else to manage their financial and legal affairs, even if they become incapacitated.
Governing Law The form is governed by Massachusetts General Laws, Chapter 190B, Section 5-501.
Durability This power of attorney remains effective even if the principal becomes mentally incapacitated.
Principal The person who creates the Durable Power of Attorney is referred to as the principal.
Agent The individual designated to act on behalf of the principal is known as the agent or attorney-in-fact.
Revocation The principal can revoke the Durable Power of Attorney at any time, as long as they are mentally competent.
Signing Requirements The form must be signed by the principal and acknowledged by a notary public or signed by two witnesses.
Limitations While broad powers can be granted, the principal can specify certain limitations on the agent's authority.
Use Cases This document is often used for managing finances, real estate transactions, and healthcare decisions when the principal cannot act.

Sample - Massachusetts Durable Power of Attorney Form

Massachusetts Durable Power of Attorney

This Durable Power of Attorney is executed in accordance with Massachusetts General Laws, Chapter 231E.

Principal Information:

  • Name: ____________________________
  • Address: _________________________
  • City, State, Zip: ________________
  • Date of Birth: ___________________

Agent Information:

  • Name: ____________________________
  • Address: _________________________
  • City, State, Zip: ________________

Statement of Authority:

I, ____________________________ (the “Principal”), designate the above-named Agent as my attorney-in-fact to act in my name and on my behalf.

This durable power of attorney grants my Agent the authority to manage my financial affairs, including but not limited to:

  • Accessing my bank accounts;
  • Paying my bills;
  • Managing my real estate;
  • Investing my funds;
  • Filing my taxes.

Effective Date:

This Durable Power of Attorney shall become effective immediately upon execution and shall remain in effect if I become incapacitated.

Revocation of Prior Powers of Attorney:

Any prior Durable Power of Attorney executed by me is hereby revoked.

Signatures:

Principal’s Signature: _________________________ Date: _____________

Agent’s Signature: _____________________________ Date: _____________

Witnesses:

  1. Witness Name: _____________________________ Signature: ______________ Date: _____________
  2. Witness Name: _____________________________ Signature: ______________ Date: _____________

Notary Public:

State of Massachusetts, County of ______________

On this _____ day of ____________, 20__, before me, a Notary Public, personally appeared ___________________________ who is known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged that he/she executed the same.

Notary Public Signature: ______________________ My Commission Expires: _____________

Common mistakes

Filling out a Massachusetts Durable Power of Attorney form can be a straightforward process, but many individuals make common mistakes that can lead to complications. One significant error occurs when people fail to specify the powers they wish to grant. The form allows for a broad range of authority, but without clear instructions, the agent may not have the legal power to act in certain situations. It is essential to be precise about the powers being granted to avoid any confusion later.

Another frequent mistake is neglecting to sign the document in the presence of a notary public. In Massachusetts, a Durable Power of Attorney must be notarized to be legally binding. Failing to have the document properly notarized can render it invalid, leaving the agent without the authority to act on behalf of the principal. Always check that the notary has signed and stamped the document before considering it complete.

People also often overlook the importance of selecting the right agent. Choosing someone who is not trustworthy or lacks the ability to handle financial matters can lead to mismanagement. It’s crucial to select an agent who understands the responsibilities involved and is willing to act in the best interest of the principal. Discussing these responsibilities with the chosen agent beforehand can help ensure a good fit.

Additionally, many individuals forget to keep a copy of the completed Durable Power of Attorney form. After the document is signed and notarized, it’s important to distribute copies to the agent and any relevant financial institutions. Without access to the form, the agent may face challenges when attempting to act on behalf of the principal. Keeping copies in a safe but accessible place can prevent future issues.

Finally, failing to review and update the document regularly can lead to problems down the line. Life circumstances change, and so do relationships. It’s wise to review the Durable Power of Attorney periodically to ensure that it still reflects the principal's wishes and that the selected agent is still appropriate. Making updates when necessary can help avoid complications in the future.

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