Massachusetts General (Financial) Power of Attorney Form
The Massachusetts General (Financial) Power of Attorney is a form completed and signed by a party, referred to as the principal, to authorize another party (the agent) to act in a representative capacity to manage their financial transactions and other life matters if they so choose. Said transactions may involve banking, investments, retirement funds, and other affairs of a financial nature. The powers granted to the agent will only remain active if the principal is in a capable state. As soon as they become incapable of acting for themselves, the agent will be legally required to relinquish any and all powers.
For those looking for a form that does not terminate in the case the principal declines in health and cannot function on their own, a durable POA should be used.
Laws: Ch. 190B