Minnesota Statutes 523.07 – Durable Power of Attorney
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A power of attorney is durable if it contains language such as “This power of attorney shall not be affected by incapacity or incompetence of the principal” or “This power of attorney shall become effective upon the incapacity or incompetence of the principal,” or similar words showing the intent of the principal that the authority conferred is exercisable notwithstanding the principal’s later incapacity or incompetence.
Terms Used In Minnesota Statutes 523.07
- incapacity: means cause for appointment of a guardian or conservator of an adult under sections 524. See Minnesota Statutes 523.03
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- power of attorney: means a validly executed power of attorney. See Minnesota Statutes 523.03
- principal: includes a guardian or conservator appointed for the principal at any time; and
(3) "power of attorney" means a validly executed power of attorney. See Minnesota Statutes 523.03