Minnesota Limited Power of Attorney Form
A Minnesota limited power of attorney is a legal document that a Minnesota resident (the “principal”) uses to appoint another person (the “attorney-in-fact”) to complete various tasks for them. The principal must be very specific when writing the form so that the attorney-in-fact clearly understands their duties. The attorney-in-fact assumes all responsibility if they act beyond the powers that they are given (§ 523.22). To further protect themselves, the principal can set an expiration date on the document so that all responsibilities are carried out by that time.
By signing the limited power of attorney, the agent is agreeing to act in the best interest of the principal at all times, maintain a record of transactions, follow the exact requests of the principal, and accepts liability if they act outside of the contract or act against the principal’s wishes (§ 523.21).
If the attorney-in-fact fails to abide by these requests, then the contract immediately ends. The principal also holds the right to terminate the agreement (using a Minnesota revocation form) whenever they wish to do so. A limited power of attorney is very similar to a general power of attorney as it does not last if the principal becomes incapacitated (unlike a medical or durable power of attorney).
Signing requirements (§ 523.01) – Notarized.