what is the latest statutory durable power of attorney for montana

by Christine Pacocha 3 min read

What is a general durable power of attorney?

MONTANA STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself.

What is a durable financial power of attorney?

72-31-353. Statutory form power of attorney. A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this part. This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal).

What is the general power of attorney?

Create the POA Using a Statutory Form, Software, or Attorney Montana offers a statutory form (a form drafted by the state legislature) with blanks that you can fill out to create your POA. For a more user-friendly experience, try WillMaker , which guides you through a series of questions to arrive at a POA (and estate plan) that meets your specific aims and is valid in your state.

What is statutory power of attorney?

This power of attorney becomes effective immediately unless you state otherwise in the Special Instructions. If you have questions about the power of attorney or the authority you are granting to your agent, you should seek legal advice before signing this form. Montana Code Annotated 2017, Statutory Form Power of Attorney §72-31-353

Does a power of attorney need to be notarized in Montana?

The Montana Statutory POA form provides for the document to be notarized. A signature on a POA is assumed to be genuine if the principal has acknowledged the signature before a notary public.

How long does a power of attorney last in Montana?

This is a temporary guardianship position and, according to State law, the agent shall only maintain their powers for a period no longer than six (6) months from the execution of this power of attorney document.

Does a power of attorney need to be certified?

If you would prefer to send us a copy of the power of attorney, instead of the original, it must be certified in a particular way. The person who created the power of attorney can certify it (if they're capable of making their own decisions).

Is a statutory power of attorney?

A statutory power of attorney is a legal document that was created by statute (law). This document gives one person — the agent — the power to act on behalf of another with respect to most matters.Jun 14, 2017

How Long Does power of attorney take to get?

How long does it take to get a PoA registered? It usually takes 8 to 10 weeks for The Office of the Public Guardian to register a power of attorney, so long as there are no mistakes on the form. It may take longer if there are issues they want to look into, although this is rare.

Can you change a power of attorney?

The PoA can only be amended by you, the granter, if you are capable of making and understanding this decision. Examples of amendments that can be made are: Removing power(s) from the PoA. Add an attorney, this could either be a joint or a substitute attorney.

What are the 4 types of power of attorney?

AgeLab outlines very well the four types of power of attorney, each with its unique purpose:General Power of Attorney. ... Durable Power of Attorney. ... Special or Limited Power of Attorney. ... Springing Durable Power of Attorney.Jun 2, 2017

How do I prove my lasting power of attorney?

But how do you prove that you have an LPA? Once registered the LPA itself will have a perforated stamp at the bottom of the front page, saying 'validated' and a stamp or box (or both) on the front page will also show the date that the document was registered.Jun 8, 2021

What is Section 10 of the power of attorney Act 1971?

2.1 General powers under section 10 of the Powers of Attorney Act 1971. The Powers of Attorney Act 1971 provides a short form of general power of attorney that can be used by a sole beneficial owner of land. It operates to give the attorney authority to do anything that the donor can lawfully do by an attorney.Dec 20, 2021

What is the difference between statutory and general durable power of attorney?

What's the difference between durable and general power of attorney? A general power of attorney ends the moment you become incapacitated. ... A durable power of attorney stays effective until the principle dies or until they act to revoke the power they've granted to their agent.Sep 11, 2018

What is uniform statutory form power of attorney?

Other provisions of existing law, the Uniform Statutory Form Power of Attorney Act, set forth a form in which the principal designates the category of powers granted to the agent pursuant to the power of attorney, referred to as a statutory form power of attorney, and defines the extent of the powers so conferred on ...

What is a non statutory POA?

The creation of a Statutory Major Gifts Rider or its alternative Non-Statutory Power of Attorney allows the principal to make an informed decision as to whether the agent has the authority to make gifts or other transfers of the principal's property to third parties as well as to the agent.

What is the first declaration statement in Montana?

The first declaration statement requires the Montana Principal’s name reported. As the Private Party issuing this document and granting some or all of your authority to an Attorney-in-Fact, you are the Montana Principal. Thus, assume this role by presenting your name. (2) Your Agent.

What does "durable" mean in power of attorney?

Definition of “Durable”. “Durable”, with respect to a power of attorney, means not terminated by the principal’s incapacity. (§ 72-31-302 (2))

What is a 72-31-353?

72-31-353. Statutory form power of attorney. A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this part.

Can a power of attorney be used to make health decisions?

This power of attorney does not authorize the agent to make health care decisions for you. You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to act for you.

What is a power of attorney?

IMPORTANT INFORMATION. This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself.

Can you name more than one agent?

This form provides for designation of one agent. If you wish to name more than one agent, you may name a coagent in the Special Instructions. Coagents are not required to act together unless you include that requirement in the Special Instructions.

What is a power of attorney in Montana?

This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself. The meaning of authority over subjects listed on this form is explained in the Montana Codes Annotated, Uniform Power of Attorney Act, Title 72, chapter 31, part 3.

What is the meaning of the power of attorney?

The meaning of the authority granted to you is defined in the Uniform Power of Attorney Act, Title 72, chapter 31, part 3. If you violate the Uniform Power of Attorney Act, Title 72, chapter 31, part 3, or act outside the authority granted, you may be liable for any damages caused by your violation.

What happens if a coagent uses the principal's property for personal gain without the principal's permission

If a coagent uses the principal’s property for personal gain without the principal’s permission, that coagent is said to have breached a fiduciary duty. If the other coagent is aware of the breach, the Montana Uniform POA Act requires the coagent to notify the principal.

What is a POA?

A POA is a document in which one person gives another person the power to conduct certain actions on his or her behalf. Examples of situations in which a written POA could be useful include:

How many agents can a principal designate?

A principal may designate one person as an agent or two or more persons to act as coagents. Unless the POA provides otherwise, each coagent may use his or her authority independently.

Can a principal receive Social Security?

If the principal receives Social Security payments, a POA is not accepte d for the management of a beneficiary’ s benefits.

Why is a durable power of attorney important?

A durable statutory power of attorney is vital to ensuring that your interests are protected in the event that you cannot make decisions for yourself. For example, an aging parent may sign a power of attorney giving his or her child the power to make important financial and legal decisions on their behalf if they become incapacitated.

What is a durable power of attorney?

Under the Texas Estates Code, statutory durable power of attorney can be used to appoint an agent to make certain financial decisions for you should you be unable to do so. Although it cannot be used for healthcare or medical decisions, ...

Can a power of attorney be used for medical decisions?

Medical decisions — such as the type of care that you want to receive if you become incapacitated — cannot be addressed through a statutory power of attorney. Instead, the power to make health care decisions is designated through a separate document known as a Medical Power of Attorney. A durable statutory power of attorney is vital ...

What is a POA?

A statutory power of attorney is a legal document that was created by statute (law). This document gives one person — the agent — the power to act on behalf of another with respect to most matters. The person with power of attorney (POA) is known as the agent (occasionally, the attorney-in-fact), and the person who appoints the power ...

What is tax matters?

Tax matters; and/or. Digital assets and the content of electronic communication. Each item that you initially will give your agent power to handle that matter based on the terms of the document (i.e., immediately, or upon disability or incapacity). Notably, healthcare is not listed as a power in this form.

What happens if you don't have a durable power of attorney?

If you don’t have a statutory durable power of attorney in place and become disabled or incapacitated, then you will not have a say in how these matters are handled, or who will handle them for you. Having a statutory durable power of attorney is also a more cost-effective solution to these issues for your family.

What powers can an agent have?

You can give your agent any or all of the following powers: Real property transactions; Tangible personal property transactions; Stock and bond transactions; Commodity and option transactions; Banking and other financial institution transactions; Business operating transactions; Insurance and annuity transactions;

Signing Requirements

  • The principal is required to authorize in the presence of a notary public. If the agent includes the optional Agent Certification then their signature must be acknowledged as well (§ 72-31-305, § 72-31-354).
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Statutory Form

  • The Montana state legislature has created a sample statutory form for powers of attorney at § 72-31-353.
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Designation of Agent

  • (1) Your Name.The first declaration statement requires the Montana Principal’s name reported. As the Private Party issuing this document and granting some or all of your authority to an Attorney-in-Fact, you are the Montana Principal. Thus, assume this role by presenting your name. (2) Your Agent.The Attorney-in-Fact who shall accept the principal power you are granting and the respon…
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Designation of Successor Agent

  • (3) First Successor Agent.An option of setting up a couple of Reserve Agents to take over the Attorney-in-Fact role (when needed) is presented. These Successor Agents will not be granted power at the same time as the originally named Montana Attorney-in-Fact. Rather, the First Successor Agent you name will be granted principal authority only if the original Attorney-in-Fac…
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Grant of General Authority

  • (5) Selecting Montana Powers.A list of general subjects the State of Montana allows for an Agent’s use of principal power to act with is on display. As the Principal, initial each power that you wish to appoint to the Montana Attorney-in-Fact from this list. If a principal power on this list should not be placed in the control of the Attorney-in-Fact, then do not initial it. If you wish to gra…
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Principal’s Special Instructions

  • (7) Your Directives And Limitations.You can limit your Attorney-in-Fact’s powers, restrict some actions from his or her behavior, or set specific instructions on paper. Additionally, while this document is set to go in effect immediately and remain so unless revoked or until the Principal’s death, you can set specific start and termination dates as you see fit. Any special provisions tha…
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Nomination of Conservator Or Guardian

  • (8) Your Conservator Nomination.This template will allow you to address the scenario where you have been incapacitated and the State of Montana intends to set a Court-Appointed Conservator to your estate. While the ultimate decision of who should be appointed to this role is up to the courts, your nomination as the Principal will be considered seriously. To make a nomination for t…
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Signature and Acknowledgment

  • (10) Principal’s Signature And Date.Your signature is required for this document to be executed. You must perform the act of signing before a Notary Public then immediately document the current calendar date. (11) Your Name And Address.As the Montana Principal, present your printed name and residential address with your signature. (12)Your Telephone Number. (13) Mo…
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