Minn Stat 523 23 Short Form POA - Minnesota State Bar Association - mnbar 2025

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The document outlines the statutory short form of a general power of attorney in Minnesota, detailing the formal requirements for its creation, the powers granted to the attorney-in-fact, and the responsibilities of both the principal and the attorney-in-fact. It includes instructions for completing the form, specifies various powers that can be delegated, and emphasizes the importance of understanding the legal implications before signing. Additionally, it addresses conditions under which the power remains effective and provides guidelines for accountability.

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What is a power of attorney for finances in Minnesota?

A financial power of attorney is a document that gives someone permission to act on another persons behalf. When a person creates a power of attorney, they are considered the principal. The individual to whom they give this permission is called their agent or attorney-in-fact.

What is the statute 523.20 in Minnesota?

523.20 provides that any party refusing to accept the authority of an attorney-in-fact is liable in the same manner as the party would be liable had the party refused to accept the authority of the principal unless the party had actual knowledge of the POAs revocation, the POA has expired, or the party has actual

What is a statutory short form POA in Minnesota?

A statutory short form power of attorney an individual residing in Minnesota may use to authorize a third party to manage the individuals property and financial matters. This Standard Document has integrated notes and drafting tips.

What is a durable power of attorney in Minnesota?

When a power of attorney is considered durable, it remains valid even if you become incompetent or incapacitated. An ordinary power of attorney expires if a person becomes unable to make his or her own decisions.

What is the statute 523.23 in Minnesota?

520-523) 523.23. Statutory short form of general power of attorney; formal requirements; joint agents. Before completing and signing this form, the principal must read and initial the IMPORTANT NOTICE TO PRINCIPAL that appears after the signature lines in this form.