Maryland Limited Power of Attorney
I, [YOUR NAME], residing at [YOUR COMPANY ADRESS], hereby appoint [AGENT'S NAME], residing at [AGENT'S ADDRESS], as my attorney-in-fact to act in my name, place, and stead, to the extent and in the manner described below.
I. Purpose of Power of Attorney
This Limited Power of Attorney is granted for the following specific purpose(s) and limitations:
Managing Real Estate Transactions: This includes buying, selling, leasing, or managing real estate property on behalf of the principal. The agent may have the authority to sign documents related to real estate transactions, negotiate terms, and handle financial matters related to the property.
Conducting Banking Transactions: This involves managing the principal's bank accounts, including depositing and withdrawing funds, paying bills, transferring funds between accounts, and managing other financial transactions.
Healthcare Decision Making: Granting authority to make healthcare decisions on behalf of the principal. This could include decisions regarding medical treatment, consenting to or refusing medical procedures, choosing healthcare providers, and accessing medical records.
Legal Matters: Authorizing the agent to handle legal matters on behalf of the principal, such as signing legal documents, initiating or responding to legal proceedings, and representing the principal in legal matters.
Financial Management: Allowing the agent to manage the principal's financial affairs, including investment decisions, tax matters, insurance claims, and other financial responsibilities.
Business Operations: Empowering the agent to conduct business transactions and manage business operations on behalf of the principal, such as signing contracts, negotiating deals, and handling day-to-day business affairs.
Government Benefits: Granting authority to access and manage government benefits or entitlements, such as Social Security, Medicare, Medicaid, or veteran's benefits on behalf, of the principal.
Estate Planning and Administration: Authorizing the agent to engage in estate planning activities and administer the principal's estate, including managing assets, distributing property according to the principal's wishes, and handling estate-related matters.
Personal Affairs: Handling personal affairs and tasks on behalf of the principal, such as managing household finances, paying bills, handling insurance claims, and other personal matters.
Specific Transactions or Tasks: Granting authority for specific transactions or tasks not covered by the above categories, such as signing contracts, accessing safe deposit boxes, managing investments, or any other specific actions required by the principal.
II. Powers Granted
I hereby grant my attorney-in-fact the power and authority to perform the following acts on my behalf and in my name:
Real Estate Transactions:
Purchase, sell, exchange, or otherwise transfer real property.
Execute deeds, mortgages, leases, or other real estate documents.
Manage rental properties, including collecting rent and signing leases.
Financial Management:
Manage bank accounts, including making deposits, withdrawals, and transfers.
Pay bills, expenses, and taxes on behalf of the principal.
Invest funds in stocks, bonds, or other securities within specified guidelines.
Access safe deposit boxes.
Legal Matters:
Hire and communicate with attorneys, accountants, or other professionals.
Initiate or defend lawsuits.
Settle legal claims or disputes.
Healthcare Decisions:
Make medical decisions, including consent to medical treatment, surgery, or medication.
Access medical records and communicate with healthcare providers.
Make end-of-life decisions, such as decisions regarding life support or organ donation.
Business Operations:
Manage business interests, including signing contracts or agreements.
Conduct business transactions on behalf of the principal.
Represent the principal in business meetings or negotiations.
Governmental Affairs:
Apply for government benefits or assistance programs.
Handle tax matters, including filing tax returns and communicating with tax authorities.
Miscellaneous Powers:
Access and manage digital assets, such as online accounts and social media profiles.
Manage insurance policies, including making changes or filing claims.
Manage retirement accounts or pensions.
III. Duration of Power of Attorney
This Limited Power of Attorney shall become effective immediately upon my signature and shall remain in effect until [DATE].
IV. Revocation
I reserve the right to revoke this Limited Power of Attorney at any time, provided that such revocation is communicated to my attorney-in-fact in writing.
V. Reliance of Third Parties
Third parties may rely upon the representations of my attorney-in-fact as if they were made directly by me. No party who relies upon the authority of my attorney-in-fact shall be required to ensure the proper application of any funds or property involved.
VI. Governing Law
This Limited Power of Attorney shall be governed by and construed by the laws of the State of Maryland.
In witness whereof, I have executed this Power of Attorney on [DATE].
[YOUR NAME]
[AGENT'S NAME]
Witness Acknowledgment
I, [WITNESS'S NAME], residing at [WITNESS'S ADDRESS], hereby acknowledge that I witnessed the signing of this Limited Power of Attorney by [YOUR NAME] on [DATE].
[WITNESS'S NAME]
Notary Acknowledgment
STATE OF MARYLAND
COUNTY OF [COUNTY]
On this [DATE], before me, a Notary Public in and for the said County and State, personally appeared [YOUR NAME], known to me (or proved to me on the oath of [Identity Verification]), to be the person whose name is subscribed to the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.
[NOTARY PUBLIC'S NAME]
[SEAL]
My Commission Expires: [EXPIRATION DATE OF COMMISSION]
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