A power of attorney is a legal document created by a principal giving an agent specified powers to act on the principal's behalf. This presentation will talk about powers of attorney in Minnesota and their importance as a part of a good estate plan.

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Created
by a
Principal
Legal
Document
Empowering
an Agent,
also known
as an
Attorney in
Fact
Giving the
Agent
specified
Powers to act
on the
Principal’s
Behalf

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4. The power to sell or manage your property
Manage your everyday finances
Purchase real estate or insurance on your behalf
File your taxes
And more

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6. Document
Minnesota law
provides a standard
form you can use.
You can also create
your own form to
suit your own
purposes.
Signed
The principal has
to sign the power
of attorney form
in front of a
notary public.
Dated
Power of
attorney
document has to
be clearly dated.
Specific
The document
must detail the
powers the
principal is giving
the agent.

9. Limited powers
These are specific powers granted to the agent by
the principal. All other rights and abilities not given
remain solely those of the principal.
General
Giving general powers of attorney transfer all
possible rights to the agent

11. Mentally sound. You can only grant power of
attorney when you maintain the ability to make
your own choices and understand how those
choices affect others. You cannot give power of
attorney when, for example, you are delirious,
suffering from a mind altering disease, or are
otherwise incapable of understanding your own
decisions.
Adult. You must be at least 18 years old create
a power of attorney.

13. Termination
• If you are not happy with
how your agent is acting
you can terminate the
agent at any time as long
as you are mentally
sound
Modification
• The principal has the right
to change the power of
attorney terms at any
time as long as he or she
remains mentally sound

15. Lawyers not necessary. The title “attorney-in-fact” does
not mean you have to select a lawyer. It also does not give
your agent the right to practice law.
Fiduciary. An agent has the legal responsibility to do
what is in the principal’s best interests.
Capable. Just like someone who makes a power of attorney,
an agent has to be legally capable of serving in the
position. You must select a capable adult of sound mind.
Minor children cannot serve as an attorney-in-fact.

16. Voluntary. Your selection of attorney-in-
fact has to be willing to serve. If the
attorney-in-fact declines to serve or, after
accepting, chooses to stop being your
agent, you should have a replacement
agent ready.
Person or organization. You can select
either an individual or an organization.
Depending on the kinds of responsibilities
you want your agent to carry out, one
choice may be more suitable than
another.

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18. Incapacitation
• As a general rule, should
you become mentally
incompetent all powers of
attorney will automatically
be terminated
Exception
• However, if you create a
durable power of
attorney, these powers
will continue to remain in
effect even if you become
incapacitated

20. Notification
An agent can continue to act as long as he or she
believes the principal is alive, or as long as he or she
believes the powers of attorney are still in effect.
Once notified of the principal’s death, the agent’s
power ends.
Estates
Principals commonly choose agents to continue to
represent them after the principal has died. If this is
the case the principal has to nominate the agent to
serve as executor, also known as a personal
representative, through the principal’s last will and
testament.

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24. Spouse
• The property that you and your spouse owned together will
still be managed by your spouse, but there are significant
limits to what a spouse can do.
Conservator
• A person a court appoints to manage finances is known as
a conservator.
Probate
• To appoint someone the court will have to hold hearings.

27. Non-Delegable
Probate

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35. Last will and testament
Nominate a guardian, executor, and decide how you
want to dispose of your property after you die.
Trust
Transfer your property to the trust and nominate a
trustee to manage it and distribute it as you direct.