Maine Financial Power of Attorney Form
FindLaw has partnered with experienced attorneys to create financial power of attorney forms you can complete quickly and easily from the comfort of home. Just follow along with our easy step-by-step process to create a financial power of attorney that is customized to Maine’s laws and your unique situation.
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Do I Really Need a Financial Power of Attorney?
A financial power of attorney acts as a fill-in when the unexpected occurs. You may sustain injuries that leave you temporarily or permanently incapacitated. Or a new work assignment sends you to Asia for a few months. In these circumstances, you need someone to manage the homefront for you until you can address these issues yourself.
If you do not have a financial power of attorney, you will have no one authorized to make bank deposits, pay your mortgage, or manage other financial affairs. In cases of mental incapacity, your loved ones may need to pursue a conservatorship. The court will appoint a conservator to manage your assets, and there is no guarantee that this person would be your first choice for the role or knowledgeable about your financial matters. A power of attorney offers you this protection without costing additional stress or money.
FindLaw provides everything you need to make your financial power of attorney.
Maine Financial Power of Attorney Options
Financial Power of Attorney
For One Person
A do-it-yourself financial power of attorney form that’s easy to personalize.
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How It Works
The process takes less than an hour, and you can complete it from the comfort of your home.
Answer Some Questions
Decide who your agent will be and what authority you want them to have. Then, simply answer a few questions.
Create an Account
Creating an account is easy, quick, and secure. Save your information as you go and return when you have time.
Complete Your Document
Once you answer the relevant questions, we do the hard part and create your unique document.
Sign & Make It Legal
Sign your document following the instructions on the form. This may include signing in front of witnesses or a notary.
How To Get a Maine Power of Attorney
Understand how a POA works in your state
A financial power of attorney is a legal document where a principal (you) appoints an agent (or attorney-in-fact) to act on their behalf in financial matters. Maine statutes presume powers of attorney are durable unless expressly stated otherwise. ‘Durable’ means a power of attorney remains effective no matter your disability or mental incapacity.
There are many types of power of attorney available. A general power of attorney assigns broad powers to your agent so they can handle most financial, legal, personal, and business matters. If you wish to limit your agent to specific powers or even a single transaction, you can execute a limited power of attorney. For health care decisions, you can execute a health care power of attorney or advanced directive under the Uniform Health Care Decisions Act.
Your financial power of attorney can be as limited or broad as you wish. Keep in mind that if it is too narrow, your agent will not be as effective if you are unavailable for the long term.
Choose your agent
Consider your choice of agent carefully. You want someone who looks out for your best interest and has a good idea of your daily matters. Many people choose their spouse, live-in partner, close friend, family member, or business partner to fulfill this purpose. Choose a successor agent, too, in case your primary agent is unwilling or unavailable to serve at a later time.
Assign powers to the agent
Hire a notary public
State law requires that you sign your power of attorney in front of a notary public to add their acknowledgment. You can find a notary at your bank or credit union or hire a mobile notary to visit you at your home or office. If you hire a law firm, your attorney will likely have notary publics on staff to fulfill this function.
Once done, make copies of your durable power of attorney and provide them to your loved ones, agent, and anyone else affected by it. Keep the original in a fireproof filing cabinet or safe deposit box. Let your agent know where to find the original in case they need it.
If you decide to revoke your financial power of attorney, you can sign a revocation of power of attorney form, execute a new power of attorney, or destroy it.
You May Want to Speak With a Lawyer if:
- You don’t know who to choose as your agent
- You want to use a POA for Medicaid planning
- You want to discuss which powers you should give your agent
- You want legal review of your completed power of attorney
Ready to get started on your financial power of attorney? It’s free to start.Create My Form
Maine Financial Power of Attorney FAQ
A Maine estate planning attorney will charge $150 to $400 per hour to draft a power of attorney and offer legal advice. Our forms cost $35, no fees attached.
FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney. If you’d like to work with a lawyer, you can reduce costs by using our forms service and having an attorney review it.
You can find free power of attorney forms online. However, they may not be effective in Maine or appropriate to your situation. If you face complex circumstances, such as frequent travel abroad, long periods of unavailability, or family conflict, check a form’s effectiveness with an attorney.
A power of attorney is often easy to complete. But if it isn’t done correctly, you can create an unenforceable power of attorney that will not help your loved ones. In certain cases, you are better off if you contact a lawyer to review the document. For example, if you have conflict in your family around your finances, it is probably a good idea to talk to a lawyer. The same is true if you own a business, or don’t know who to select as your agent.
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