How to Create a Durable Power of Attorney in Maryland

Creating a Durable Power of Attorney (DPOA) in Maryland is an important step in ensuring that your financial and healthcare decisions are made according to your wishes, even if you become incapacitated. This legal document allows you to appoint a trusted individual, known as your agent, to make decisions on your behalf. Here’s how to create a Durable Power of Attorney in Maryland.

Understand the Purpose of a Durable Power of Attorney

A Durable Power of Attorney remains effective even if you become unable to make decisions yourself, unlike a regular Power of Attorney which becomes invalid under such circumstances. A DPOA can cover financial matters, healthcare decisions, or both, depending on your needs.

Select Your Agent

Choosing the right agent is crucial. Your agent should be someone you trust completely, as they will have access to your finances and personal affairs. It’s recommended to select a primary agent and a backup in case your first choice becomes unavailable.

Understand the Types of Powers Granted

In Maryland, you can grant your agent varying levels of authority. Common powers include managing bank accounts, signing checks, conducting real estate transactions, and making healthcare decisions. Clearly defining these powers within the DPOA document is essential to avoid any confusion in the future.

Drafting the Durable Power of Attorney

In Maryland, a DPOA must be in writing and comply with state law. While you can draft your own document, consulting with an attorney is advised to ensure all legal requirements are met. The Maryland Durable Power of Attorney form is available online and can be tailored to fit your specific needs.

Executing the Document

To make your DPOA legally binding, you must sign it in the presence of a notary public. In some cases, it may also need to be signed by witnesses—Maryland law does not require witnesses but involving them can provide additional verification of your intentions.

Distributing Copies

Once signed and notarized, distribute copies of the Durable Power of Attorney to your agent, financial institutions, and healthcare providers. Ensuring that relevant parties have access to this document will facilitate decision-making when necessary.

Review and Update Regularly

It’s important to review your Durable Power of Attorney periodically, especially after significant life changes such as marriage, divorce, or the death of your agent. Updating your DPOA ensures it continues to reflect your current wishes and circumstances.

Understand Revocation Procedures

If you ever wish to revoke your Durable Power of Attorney, you can do so by creating a written revocation document. Be sure to inform your agent and any institutions that held your previous DPOA to prevent any accidental use.

Conclusion

Creating a Durable Power of Attorney in Maryland is a straightforward process that can provide peace of mind for you and your loved ones. Taking the time to plan ahead ensures that your financial and healthcare affairs can be managed smoothly according to your preferences, even in challenging times.