Montana Power Of Attorney Form Template – Forbes Advisor

A power of attorney is a legal document where one person, referred to as the principal, gives another person, known as the “attorney-in-fact,” authority to make decisions for them. The attorney-in-fact doesn’t need to be an actual attorney, but they should be someone the principal trusts to make sound choices on their behalf.

Powers of attorney can be “durable,” which means they are still in effect if the principal becomes incapacitated or unable to make decisions. Durable powers of attorney typically end with the principal’s death. A general power of attorney that is not durable is no longer effective if the principal becomes incapacitated.

In most states, a power of attorney must be notarized to be effective.

Anyone who wishes to allow another person to make certain financial, healthcare or other decisions on their behalf should strongly consider a power of attorney. They can be an especially useful estate planning tool to protect your wealth if you can no longer manage your finances.

You must satisfy the following requirements to create Montana power of attorney:

• The principal must be competent, meaning they can make their own decisions.
• The power of attorney must be in writing.
• The document must contain:
  • The name of the attorney-in-fact
  • The responsibilities the principal gives the attorney-in-fact
  • The principal’s signature
  • The date of execution

While not required, you may wish to give copies of the final, signed document to your attorney-in-fact, financial institution and key family members. Store the original in a safe place. Revisit your power of attorney regularly and update it as circumstances change.

There are two broad categories of powers of attorney based on how expansive they are and the state of the principal.

Narrow or Broad Powers of Attorney

Narrow powers of attorney are limited to a specific task or situation the principal wants the agent to perform on their behalf. These powers of attorney can be as narrow as a POA to sell a vehicle or as broad as granting the agent the ability to act in all financial matters.

Among the more well-known powers of attorney is the medical or health care power of attorney. This document grants the agent the authority to make medical decisions on behalf of the principal when they are incapable of making those decisions themselves. An advanced or healthcare directive combines a medical POA with a living will to ensure that the principal’s wishes and interests are carried out in case of incapacity.

Powers of Attorney Based on Different Capacities

One of the main reasons that powers of attorney are created is to deal with the possibility of becoming incapacitated. Many POAs are designed based on the capacity of the principal.

• General Power of Attorney. A general or “non-durable” power of attorney can only work when the principal is competent. If the principal becomes incapacitated, the POA is no longer functional.
• Durable Power of Attorney. When creating a durable power of attorney, the principal intends for the agent to have authority no matter what. In Montana, durability is presumed. This means a power of attorney will automatically remain effective if the principal becomes disabled or incapacitated.
• Springing Power of Attorney. Sometimes called a “standby” power of attorney, the springing POA only becomes effective if the principal becomes disabled or incapacitated.

Nearly anyone can serve as an attorney-in-fact. They do not need to be an actual attorney. They do, however, need to be a legal adult and not otherwise incapacitated.

Ensure that the attorney-in-fact is someone you trust. Note that principals may also select backup attorneys-in-fact, in case the primary is unreachable.

Signing requirements vary by state. In Montana, a power of attorney form doesn’t require a witness or notary, but a notary is encouraged. If the document is notarized, it is presumed to be genuine.

Even if your state doesn’t require a notarized signature, it’s still smart to obtain one. It provides an extra layer of validity if someone challenges your power of attorney form.

You can use a template like the one provided above to create a perfectly legal power of attorney in Montana. You could even write one without a template, as long as it meets all the legal requirements.

Just because you don’t have to have a lawyer draw up your POA, though, doesn’t mean you shouldn’t. A power of attorney can give sweeping powers to the attorney-in-fact, so it’s a good idea to have a qualified lawyer review the document before signing.