The Montana statutory durable power of attorney grants an individual the ability to act as the representative for a principal in financial matters such as banking, expense payments, investments, and taxes. The authority that the representative receives is listed in the power of attorney and can be amended or revoked by the principal at any time. As a “durable” power of attorney, this document does not expire if the principal becomes mentally or physically incapacitated. State law mandates that the representative must act in good faith and in accordance with the principal’s expectations. The representative must also maintain a record of all transactions made while acting on the principal’s behalf.
Agent’s Duties – § 72-31-319
Signing Requirements (§ 72-31-305) – Notary Public
Statutory Form – § 72-31-353
Statute – § 72-31-302(2)
“Durable”, with respect to a power of attorney, means not terminated by the principal’s incapacity.