A Guide to the Minnesota Power of Attorney Requirements
You don’t have to struggle with deciphering legal terms and protocols regarding powers of attorney and other legal documents any longer! We are here to break down the Minnesota power of attorney requirements and show you how to draft a POA document the easy way!
A power of attorney is a legal document used by one party (a principal) to appoint another party (an agent) to deal with personal, financial, and other affairs in the principal’s stead. There is more than one POA document type, including:
- General POA—Allows an agent to represent a principal while he or she is mentally competent. The general POA gets terminated if the principal becomes incapacitated
- Durable POA—Used to deal with financial, legal, and property matters. It stays in effect even if the principal becomes incapacitated
- Limited POA—Lets the principal grant specific powers to the agent and can be made to last for a certain period of time
- Financial POA—Allows the agent to deal with the principal’s finances and real estate matters
Choosing the right POA document depends on the powers the principal wants to transfer to the agent.
The common powers a principal can transfer with a power of attorney in Minnesota are the powers to:
- Do any act or deed in the principal’s stead in the same way he or she would if present and capable
- Manage the principal’s property however he or she wants, including selling, buying, leasing, etc.
- File the principal’s income, property, gift, and other tax returns
- Handle the principal’s bank accounts and deal with them however he or she sees fit
- Deal with the principal’s life, accident, disability, and other insurance policies
- Have access to the principal’s safety deposit box
- Act as a representative payee for any payment the principal is entitled to
- Request and review information about the principal’s personal affairs or physical and mental health, including his or her medical and hospital records
You can obtain a power of attorney in Minnesota by writing it yourself, but you have to be careful and write it in accordance with the legal protocols of your state. Check out the table below to see what clauses you must incorporate for your POA document to be valid in Minnesota:
|Title||To avoid any future misunderstandings, you have to name your POA document (e.g., Durable Power of Attorney for Financial Purposes)|
|Dates||The effective date of the agreement and the date of the POA signing should be stated|
|Names and details||Both the principal’s and the agent’s full names have to be stated, along with:
|Powers||To make sure both the agent and the principal are clear on what they’ll be able to do in the future, describe and specify each power that the principal will be transferring|
Under Minnesota law, powers of attorney don’t have to be notarized. Although notarization isn’t one of the MN POA requirements, the problem is that some third parties—such as banks—may require it, so getting your POA document notarized would be a good call.
You don’t have to go out of your way to get it done—DoNotPay can help you get your POA notarized in a snap!
Why spend hours writing your Minnesota power of attorney by yourself when you can have our app draw it up in a few clicks? All you need to do is provide us with the relevant info, and our app will generate your POA document in a jiffy! Here’s how the process works:
- Sign up for DoNotPay
- Tell us what powers you want us to include
- Answer a few simple questions
Both the agent and the principal should read the notices and provide their signatures, and you’re done!
Have additional POA-related questions that you can’t seem to find the answers to? Don’t fret—check out the list below and find your answers with ease:
- Can you have more than one power of attorney?
- How can I write a power of attorney letter?
- What determines the power of attorney over a parent?
- What is a power of attorney for mental illness?
- How can I take power of attorney away from someone?
- What is a joint power of attorney?
- Does a power of attorney expire?
- How can I obtain a power of attorney?
- What is a springing power of attorney?
DoNotPay is a great way of taking care of your money, whether you’re cost cutting or looking for some extra income. Your new virtual assistant will help you:
|Earn Money||Save Money|
Our app is great for helping you with your money, but the benefits of your DoNotPay subscription don’t stop there. The portfolio of DoNotPay’s products and services is so diverse that anyone can find something useful to make their daily tasks easier.
Find a more comprehensive yet cheaper subscription—we’ll wait!