Maryland Limited Power of Attorney Form
A Maryland limited power of attorney formally announces the authority of a middle-man to take care of a principal’s responsibilities in their absence. It binds the agent to make the utmost responsible choices on the person’s behalf.
The decisions have a potentially life-changing effect on the principal. Therefore, the agent must treat the terms in the limited power of attorney with respect and honor. If they make a mistake, they can undergo costly and lengthy court hearings, or could have to compensate the principal for wrongdoings.
Signing requirements (§ 17-110): Notarized and signed by two (2) witnesses.
When completing the form, the principal must initial next to the tasks they want the agent to carry out. In Maryland’s state-provided form, there are categories in which a principal might use to assign duties to an agent. If the responsibilities do not fall under these categories, the principal can use the appropriate space in the document to explain what they want the agent to do.
Personal property
- Real estate;
- Tangible personal property;
- Commodities; and
- Estates, trusts, or other profitable interests.
Financial-related
- Stocks and bonds;
- Banks and other monetary associations;
- Insurance and pensions;
- Lawsuits and litigation;
- Entity or business operation; and
- Retirement plans.
Government- or state-related
- Personal and family care;
- Help from governmental programs (or civil or military service);
- Taxes; and
- Gifts.