![]() On the document, the principal will be able to specify which powers they allow. ĭurable Power of Attorney – This form can be used by the principal to appoint a financial agent. It should be noted that all powers of attorney in Maine are considered durable unless otherwise stated within the document by which the agent is appointed. The principal can also decide that the agent is only given representative powers only in the event of their incapacity. The term “durable” indicates that the agent’s authority will persist following the incapacitation of the principal. These instructions do not constitute legal advise and only provide an introductory guide to estate planning.Ī financial agent is an individual who is able to execute legal instruments on the principal’s behalf and manage their financial affairs. In the below guide, different options are described that can help individuals start preparing for the future. Without the execution of estate planning documents, an individual’s incapacitation or death can put their family into a difficult situation. How to Create an Estate Plan in Maine (6 steps) ![]() To plan for the administration of an individual’s estate, the Last Will and Testament or the Revocable Living Trust can be used. The Advance Health Care Directive and Durable Power of Attorney forms are used to appoint a representative to act in an individual’s best interests if they become mentally or physically incapacitated. ![]() A Maine estate planning checklist is a guide to start planning for end-of-life arrangements, property disbursements, and medical preferences. ![]()
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