The Minnesota General Power of Attorney Form is used to give the Agent broad power to act on behalf of the Principal in financial matters. This includes managing bank accounts, overseeing investments, purchasing property and paying bills. Despite giving the Agent broad power, this form cannot give the Agent the power to manage the Principal’s medical decisions.
Under Minnesota state law, a Power of Attorney agreement will not be valid unless it is witnessed by a Notary Public or two (2) adult witnesses. More than almost any other form, the Principal should be extremely sure about who they choose for their Agent with this agreement, as it comes with a great amount of both power and responsibility.