The Massachusetts durable power of attorney is a document in which an individual (the principal) nominates an agent to manage their financial affairs. The authority the agent receives can permit them to control the principal’s investments, business transactions, real estate, personal property, and any other financial matter noted in the document. In many cases, the agent will be a family member or another trustworthy individual who is close to the principal. The principal can elect to have the power of attorney activate immediately upon its execution or in the specific circumstance where they can no longer make decisions. Due to this power of attorney’s durability, it will remain effective beyond the principal’s incapacity.
Signing Requirements – Not mentioned in state statutes; notary public or witness acknowledgment is recommended.
- If the delegation of power is by or at the direction of a parent/guardian of a minor, two (2) witnesses are required (§ 5-103).
State Definition – § 5–501(a)
Statute – § 5–501(a)
A durable power of attorney is a power of attorney by which a principal designates another his attorney in fact in writing…showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity…