Minnesota Limited Power of Attorney Form
A Minnesota limited power of attorney is a legal document that a principal uses to appoint an attorney-in-fact to complete various tasks. When writing and explaining the duties, the principal must use vigilance to confirm that the agent is on the same page and plans to meet their standards.
The attorney-in-fact assumes all accountability if they do not follow the rules (§ 523.22). For example, if the individual does not finish their tasks by the deadline, they might not receive compensation, or it could challenge their relationship with the principal. In unique cases, the principal can take legal action against the agent, mainly if they have made a decision that had an immense impact on their business or personal life.
By signing, the agent consents to 1) acting in good faith when handling tasks, 2) maintaining a record of transactions via receipts or other documentation, 3) adhering to the directions provided in the form, and 4) accepting liability for taking unwanted or unwarranted choices (§ 523.21).
Signing requirements (§ 523.01): Notarization required.