Maryland Durable Power of Attorney Form
A Maryland Durable Power of Attorney gives you, a person at least 18 years of age and in good mental clarity, the ability to nominate another adult with the right to handle your financial matters. The person you select to be your agent is completely up to you. While family members (such as your spouse) is a common choice, even friends, professionals (such as an attorney), and others can act on your behalf. The most important thing is that the person selected is trustworthy and will make all decisions with your best interests in mind. Verifying a person’s credibility is difficult, and could involve conducting background checks, questioning friends and references, and more. By selecting a spouse or close relative, this can all be avoided. When drafting the form, think about your agent reading it – will they understand exactly what they are supposed to do? If not, add more detail. A POA cannot contain too much explanation – as the more things are broken down step-by-step, the better the job the agent will perform.
Commonly used terms:
- “Principal” = Person that creates the power of attorney.
- “Agent / Attorney-in-Fact” = Person that receives the powers to act for the principal.