1. Appointment of Agent
I, the Principal, appoint [[Agent Full Legal Name]] ("Agent"), whose address is [[Agent Address]], as my true and lawful attorney-in-fact to act for me and in my name, place, and stead.
2. Durability
This Power of Attorney shall be durable. It shall not be affected by my subsequent disability, incapacity, or incompetence. It shall remain in full force and effect until revoked by me in writing or terminated by my death.
3. Effectiveness
This Power of Attorney shall become effective immediately upon execution, unless I have initialed the following to make it springing:
( ) This Power shall become effective only upon a written determination by a licensed physician that I am incapacitated or unable to manage my affairs.
4. Powers Granted
The Agent is granted full power and authority to do and perform every act and thing whatsoever requisite and necessary to be done in and about the premises as fully and to all intents and purposes as I might or could do if personally present, including but not limited to the following:
- Real Property. To buy, sell, lease, mortgage, manage, maintain, repair, and encumber any real property in which I have an interest; to execute deeds, leases, mortgages, and other instruments; to collect rents and manage tenants; to obtain building permits and zoning variances.
- Personal Property. To buy, sell, lease, pledge, or otherwise deal with any personal property, vehicles, household goods, or other chattels; to register and title motor vehicles.
- Banking and Financial Institutions. To open, close, and maintain bank, brokerage, and investment accounts; to make deposits and withdrawals; to write, endorse, and sign checks and drafts; to obtain loans and lines of credit; to access safe deposit boxes; to apply for credit cards.
- Investments and Securities. To buy, sell, exchange, and vote securities, stocks, bonds, mutual funds, and other investments; to exercise stock options and manage retirement accounts (IRA, 401(k), etc.); to direct investment advisors.
- Business Interests. To operate, manage, buy, sell, or liquidate any business interest I own; to vote shares; to enter into contracts on my behalf; to hire and fire employees or contractors for business operations.
- Tax Matters. To prepare, sign, and file federal, state, and local tax returns; to represent me before the IRS and Minnesota Department of Revenue; to receive refunds and pay taxes; to extend filing deadlines.
- Insurance and Annuities. To purchase, maintain, modify, or surrender insurance policies and annuities; to file claims and receive benefits; to name or change beneficiaries where permitted.
- Estate Planning and Gifting. To make gifts on my behalf (subject to any limits below); to create, amend, or revoke trusts for my benefit; provided that no gift or transfer shall exceed [[Annual Gift Limit or "the annual exclusion amount under IRC § 2503"]] in any calendar year without additional written authority. Agent may not make gifts to self or self's creditors without express separate authority.
- Healthcare and Personal Decisions (if granted). If this Power includes healthcare authority (separate document or attached), Agent may make medical decisions, access records, and arrange care consistent with my known wishes or best interests; consent to or refuse treatment; arrange for long-term care.
- Legal Proceedings. To commence, defend, settle, or compromise any legal action or proceeding on my behalf; to retain attorneys and pay legal fees; to execute releases and settlements.
- Benefits and Entitlements. To apply for, receive, and manage any government benefits, pensions, Social Security, veterans benefits, or other entitlements; to appeal denials.
- Contracts and Obligations. To enter into, perform, modify, or terminate contracts; to pay my just debts and obligations; to negotiate payment plans.
- Digital Assets. To access, manage, and close digital accounts, email, social media, cloud storage, and cryptocurrency wallets to the extent permitted by law and platform terms.
- Safe Deposit Boxes and Personal Effects. To access, inventory, and remove contents from safe deposit boxes and storage units.
5. Limitations and Prohibitions
The Agent shall not have authority to:
- Make, change, or revoke my Last Will and Testament
- Exercise powers I have as trustee or fiduciary for others
- Use my assets for the Agent's personal benefit except as expressly authorized for compensation or reimbursement of reasonable expenses
- Perform acts that would be a conflict of interest without disclosure and consent
6. Compensation and Expenses
The Agent shall be entitled to reasonable compensation for services rendered, not to exceed [[Compensation Amount or "reasonable hourly rate"]] , and reimbursement of reasonable out-of-pocket expenses incurred in connection with this Power. Any compensation must be documented and reported.
7. Accounting
The Agent shall keep accurate records of all transactions undertaken pursuant to this Power and shall provide an accounting to me (or my guardian or conservator) upon request, or upon termination of this Power.
8. Revocation
I reserve the right to revoke this Power of Attorney at any time by delivering written notice of revocation to the Agent and to any third parties who have relied on this Power. Revocation shall be effective upon receipt by the Agent.
9. Reliance by Third Parties
Any third party may rely upon this Power and the acts of the Agent as if they were my own acts, until the third party receives actual written notice of revocation or termination. Third parties are protected in acting in good faith on the authority granted herein.
10. Governing Law
This Power of Attorney shall be governed by the laws of the State of Minnesota, including the Minnesota Power of Attorney Act (Minn. Stat. ch. 523) and any applicable provisions of the Minnesota Statutes governing powers of attorney. The Agent shall act in accordance with Minn. Stat. ch. 523 and related fiduciary standards.
10A. Springing Power Activation
If this Power is springing, the Agent may present this document together with a written certification from a licensed physician stating that the Principal is incapacitated. The Agent may also present affidavits or other evidence as may be reasonably required by third parties to activate the powers.
11. Execution and Witnesses
This Power of Attorney is executed as a sealed instrument. I have signed it voluntarily on the date first written above.
Principal Signature:
_______________________________________ Date: ___________
Printed Name: [[Principal Full Legal Name]]
Witnesses (recommended for durability and self-proving):
Witness 1: _______________________________ Date: ___________
Printed Name: [[Witness 1 Name]] Address: [[Witness 1 Address]]
Witness 2: _______________________________ Date: ___________
Printed Name: [[Witness 2 Name]] Address: [[Witness 2 Address]]
Notary Acknowledgment (recommended)
State of Minnesota
County of [[County]]
On this [[Date]], before me personally appeared [[Principal Full Legal Name]], proved to me through satisfactory evidence of identification, which was [[Type of ID]], to be the person whose name is signed on the preceding document, and acknowledged to me that he/she signed it voluntarily for its stated purpose.
Notary Public Signature: _______________________________
My commission expires: ____________
12. Successor Agent
If the Agent named above is unable or unwilling to serve, I appoint [[Successor Agent Full Legal Name]] as successor attorney-in-fact with the same powers and authority. The successor shall have no liability for acts of the prior Agent.
13. Co-Agents (Optional)
( ) I appoint the following persons to serve as co-agents who may act jointly or separately: [[Co-Agent Name(s)]]. Each co-agent shall have full authority unless I have specified otherwise in writing.
14. Agent's Acceptance and Acknowledgment
By signing below, the Agent accepts the appointment and acknowledges the fiduciary duties owed to the Principal, including the duty of loyalty, care, and to act in the Principal's best interest. The Agent agrees to keep records and to avoid conflicts of interest.
15. Fiduciary Duties and Standards of Care
The Agent shall exercise the powers granted in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner reasonably believed to be in the best interests of the Principal. The Agent shall not delegate discretionary authority without written consent. The Agent shall disclose any potential conflict of interest before acting and shall not profit from transactions except for disclosed compensation.
16. Liability of Agent
The Agent shall not be liable for any loss or damage to the Principal's property or interests arising from acts or omissions performed in good faith within the scope of this Power, except for gross negligence, willful misconduct, or bad faith. The Agent is entitled to rely on the Principal's known wishes and on professional advice obtained at the Principal's expense.
17. Ratification
I hereby ratify and confirm all acts that my Agent or any successor Agent shall lawfully do or cause to be done by virtue of this Power of Attorney.
18. Termination Events
This Power shall terminate automatically upon: (a) my death; (b) my written revocation delivered to the Agent; (c) a court determination that I have capacity and have revoked it; or (d) the expiration date if any is specified: [[Expiration Date or "none"]] .
19. Recording
If this Power is to be used for real estate transactions in Minnesota, the Principal or Agent may record a copy with the appropriate Registry of Deeds. Recording is not required for validity between the parties but provides constructive notice to third parties.
20. HIPAA and Medical Records Authorization
If healthcare powers are included or attached, the Agent is authorized to request, receive, review, and disclose my protected health information under HIPAA (45 CFR Parts 160 and 164) and Minnesota privacy laws. This authorization is intended to comply with 45 CFR § 164.510 and any state requirements for release of medical records.
21. Additional Provisions
The Agent may hire professionals (accountants, attorneys, investment advisors) at my expense to assist in carrying out the powers granted. The Agent may execute any document, affidavit, or certification necessary to effectuate any power granted herein. This Power is intended to be as broad as permitted by Minnesota law.
22. Acknowledgment of Understanding
I, the Principal, have read this Power of Attorney, understand its contents, and sign it voluntarily as my free act and deed. I understand that the Agent will have broad authority over my property and affairs and that I am giving up certain controls. I have had the opportunity to consult with an attorney of my choice.
23. Agent's Certification
I, the Agent, certify that I have read and understand this Power of Attorney and accept the appointment. I will act in the Principal's best interest and will keep accurate records of all transactions.
24. Effective Date Confirmation
This Power of Attorney is effective as stated in Section 3. All third parties may rely on the Agent's authority as set forth herein without further inquiry once presented with the original or a copy.
25. Final Acknowledgment
The Principal and Agent acknowledge receipt of copies of this executed Power of Attorney.
12. Attorney Review Disclaimer
This is a template for illustrative and educational purposes only. It is not legal advice and does not create an attorney-client relationship. Minnesota law on powers of attorney, durability, gifting authority ("hot powers"), and execution formalities must be verified against current statutes (Minn. Stat. ch. 523 and related). Principal and Agent should consult a licensed Minnesota attorney. As of June 2026.
Sources (as of 2026-06): Minn. Stat. ch. 523 (Minnesota Power of Attorney Act); common law durability requirements; Minnesota courts and bar guidance. Cross-checked against standard durable POA forms used in Minnesota.
Template - not professional advice. Verify all powers, limitations, and execution requirements against current Minnesota law. Principal and Agent should seek independent legal counsel.
