A New Mexico general power of attorney appoints an attorney-in-fact to represent an individual (the principal) in the financial activities identified in the document. Unlike a limited power of attorney, a general power of attorney does not require specific instructions and gives the attorney-in-fact broad guidelines to operate within. These include matters related to property, taxes, vehicles or any other type of instruction or authority the principal provides in the form.
To terminate a New Mexico power of attorney, the principal may set a termination date, execute a written revocation, or indicate the form as non-durable, meaning its powers will be nullified upon their incapacitation. To be considered valid, the document must be signed by the principal, the attorney-in-fact, and a notary public.
Durable Power of Attorney – A durable power of attorney authorizes an agent to control a principal’s financial affairs and the authority remains in place in the event of the principal’s incapacitation.