The Minnesota durable power of attorney is a legal form through which an individual (referred to as the “principal”) designates someone else (known as the “agent” or “attorney-in-fact”) to oversee their financial matters and make decisions for them. This legal arrangement takes effect as soon as the document is executed and remains valid even if the principal later becomes incapacitated. Unlike a regular power of attorney, a durable POA form remains effective even if the principal becomes mentally or physically incapacitated.
The principal can assign the agent either extensive or restricted powers. This authority may encompass managing financial and business dealings, purchasing or selling property, overseeing bank accounts, and handling tax-related matters. The principal should choose an agent who is reliable and capable of handling financial affairs responsibly. It is also wise to designate a successor agent if the primary agent cannot perform their duties.
This document does not authorize the agent to make healthcare decisions for you. You should consider other Minnesota POA forms available for such needs.
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According to Minnesota Statute 523.01, a competent adult, known as the principal, may appoint an individual or a legally authorized corporation as their attorney-in-fact through a written power of attorney. This document must be dated and signed by the principal to be considered validly executed. If the principal is unable to sign, it can be signed on their behalf or marked, but a notary public must acknowledge it. Other main points outlined in the statutes include:
These statutory provisions ensure that durable powers of attorney in Minnesota are executed with clear guidelines that reflect the principal’s intent while protecting the legal rights of all parties.
| Document Name | Minnesota Durable Power of Attorney Form |
| Other Names | Minnesota Financial Durable Power of Attorney, MN DPOA |
| Relevant Laws | Minnesota Statutes, Section 523.01 |
| Signing Requirements | Notary Public |
| Avg. Time to Fill Out | 10 minutes |
| # of Fillable Fields | 37 |
| Available Formats | Adobe PDF |
Popular Local Durable POA Forms
Durable POA documents are used in each and every state. Take a look at other popular DPOA forms frequently filled out by Americans.
By carefully following these steps, you can create a durable power of attorney in Minnesota that protects your interests and ensures your financial matters are managed according to your preferences.
Begin by entering your full name and address in the designated fields under the section titled “PRINCIPAL.” This part identifies you as the person granting the power of attorney.
Name the person or people you wish to appoint as your attorney-in-fact to manage your affairs. Provide their full names and addresses. If you wish to appoint a successor attorney-in-fact, include their details in the respective fields to ensure there is someone to take over if your primary agent cannot serve.
Decide the extent of powers you want to grant. The form includes various options like handling real estate transactions, managing personal property, dealing with financial accounts, etc. Place a check or “x” next to each power you grant. If you choose not to grant a specific power, leave the box unchecked or actively cross it out if you prefer.
Specify whether the power of attorney should remain effective if you become incapacitated. Mark the appropriate box to indicate your decision. This makes the document a “durable” power of attorney, meaning it remains in effect even if you lose the ability to make decisions for yourself.
Determine if your attorney-in-fact can make gifts on your behalf. This section requires you to decide whether to allow gifting and, if so, to specify to whom and within what limits. If you allow gifting, write the names of those who can receive gifts and check the appropriate box to confirm.
Choose whether your attorney-in-fact needs to provide regular accountings of their actions with your assets. You can require accountings to be delivered monthly, quarterly, or annually or specify that no accounting is necessary unless requested.
Review the entire form to ensure all information is correct and reflects your wishes. Sign the document in the presence of a notary, who must also sign and seal the form, acknowledging your signature. This step is crucial as it verifies the authenticity of the power of attorney.
After you have signed, the appointed attorney-in-fact must sign the document acknowledging that they understand and accept the responsibilities and limitations of their role. This acknowledgment is usually found at the end of the form.
