The Maryland statutory durable power of attorney assigns authority to an agent to make financial decisions for the person executing the document. The document lists the financial powers that the agent will be granted and the date that their authority becomes effective. Once in effect, a durable POA does not terminate if the principal becomes incapacitated.
The Maryland statutory durable power of attorney assigns authority to an agent to make financial decisions for the person executing the document. The document lists the financial powers that the agent will be granted and the date that their authority becomes effective. Once in effect, a durable POA does not terminate if the principal becomes incapacitated.
The principal’s signature must be acknowledged by a notary public and two adult witnesses.[1] The notary public can act as witnesses.
[…] “durable power of attorney” means a power of attorney by which a principal designates another as an attorney in fact or agent and the authority is exercisable notwithstanding the principal’s subsequent disability or incapacity..[2]
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