Minnesota Statutory Power of Attorney
Minnesota Statutory Power of Attorney
This Minnesota Statutory Power of Attorney ("Agreement") is made on the 20th day of January 2050, by and between [YOUR NAME], residing at [YOUR ADDRESS] (the "Principal"), and [AGENT'S NAME], residing at [AGENT'S ADDRESS] (the "Agent").
I. Appointment of Agent
I, [YOUR NAME], designate the following person as my agent (attorney-in-fact): [AGENT'S NAME] of [AGENT'S ADDRESS], as my attorney-in-fact to manage and make decisions regarding their financial and legal affairs under Minnesota state law.
II. Powers Granted
The Agent is granted the following roles and responsibilities:
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Financial Management: The Agent is authorized to manage the Principal's finances, including but not limited to banking transactions, bill payments, investments, and financial planning.
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Property Management: The Agent is authorized to manage the Principal's real and personal property, including buying, selling, leasing, or mortgaging property on behalf of the Principal.
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Healthcare Decision Making: If specified, the Agent may make healthcare decisions on behalf of the Principal, including consenting to medical treatment, accessing medical records, and communicating with healthcare providers.
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Legal Representation: The Agent is authorized to represent the Principal in legal matters, including signing legal documents, entering into contracts, and managing litigation.
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Business Affairs: If applicable, the Agent may manage the Principal's business interests, including signing contracts, accessing business accounts, and making business decisions.
III. Effective Date
This Power of Attorney shall be effective from the 20th Day of January 2050 and shall remain in effect until the 1st Day of March 2055, unless earlier revoked by the Principal or terminated by operation of law.
IV. Revocation Clause
The Principal reserves the right to revoke this Minnesota Statutory Power of Attorney at any time by providing written notice to the Agent. Such revocation shall take effect immediately upon receipt by the Agent, and all relevant parties shall be duly notified.
V. Remedies and Penalties
In the event of any breach of this Power of Attorney by the Agent, the Principal reserves all legal rights and remedies available under Minnesota law. These may include but are not limited to, revocation of the Power of Attorney, seeking damages for any losses incurred, or pursuing legal action to enforce the terms of this Agreement.
VI . Termination
This Power of Attorney shall terminate upon the occurrence of any of the following events:
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The death of the Principal.
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The incapacity or incompetence of the Principal, as determined by a court of competent jurisdiction.
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The written revocation of the Power of Attorney by the Principal.
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The completion of the specific tasks or transactions for which the Power of Attorney was created.
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The expiration of the term specified in the Power of Attorney.
Upon termination, the Agent shall promptly return all relevant documents and property to the Principal or their legal representative.
VII. Signature
In witness whereof, the Principal and the Agent have executed this Minnesota Statutory Power of Attorney on the date first above written.
Principal:
[YOUR NAME]
[DATE SIGNED]
Agent:
[AGENT'S NAME]
[DATE SIGNED]
Witness Acknowledgement
We, the undersigned witnesses, certify that the Principal and the Agent signed this Minnesota Statutory Power of Attorney in our presence.
Witness 1:
[WITNESS 1 NAME]
[DATE SIGNED]
Witness 2:
[WITNESS 2 NAME]
[DATE SIGNED]
Notary Acknowledgement
On this 20th Day of January 2050, before me, a Notary Public in and for said county and state personally appeared [YOUR NAME] and [AGENT'S NAME], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
In witness whereof, I have hereunto set my hand and official seal.
[NOTARY PUBLIC'S NAME]
My Commission Expires:
