LD 921
pg. 53
Page 52 of 58 PUBLIC Law Chapter 618 Page 54 of 58
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LR 466
Item 1

 
your Agent will have broad and sweeping powers to sell or
otherwise dispose of your property and spend your money without
advance notice to you or approval by you. Under this document,
your Agent will continue to have these powers after you become
incapacitated, and you may also choose to authorize your Agent to
use these powers before you become incapacitated. The powers
that you give your Agent are explained more fully in the Maine
Revised Statutes, Title 18-A, sections 5-501 to 5-508 and in
Maine case law. You have the right to revoke or take back this
Durable Power of Attorney at any time as long as you are of sound
mind. If there is anything about this Durable Power of Attorney
that you do not understand, you should ask a lawyer to explain it
to you.

 
Notice to the Agent: As the "Agent" or "Attorney-in-fact," you
are given power under this Durable Power of Attorney to make
decisions about the money, property or both belonging to the
Principal and to spend the Principal's money, property or both on
that person's behalf in accordance with the terms of this Durable
Power of Attorney. This Durable Power of Attorney is valid only
if the Principal is of sound mind when the Principal signs it.
As the Agent, you are under a duty (called a "fiduciary duty") to
observe the standards observed by a prudent person dealing with
the property of another. The duty is explained more fully in the
Maine Revised Statutes, Title 18-A, sections 5-501 to 5-508 and
7-302 Title 18-B, sections 802 to 807 and chapter 9 and in Maine
case law. As the Agent, you are not entitled to use the money or
property for your own benefit or to make gifts to yourself or
others unless the Durable Power of Attorney specifically gives
you the authority to do so. As the Agent, your authority under
this Durable Power of Attorney will end when the Principal dies
and you will not have the authority to administer the estate
unless you are authorized to do so in accordance with the Maine
Probate Code. If you violate your fiduciary duty under this
Durable Power of Attorney, you may be liable for damages and may
be subject to criminal prosecution. If there is anything about
this Durable Power of Attorney or your duties under it that you
do not understand, you should ask a lawyer to explain it to you."

 
This language does not confer powers not otherwise contained in
the durable financial power of attorney.

 
Sec. B-9. 18-A MRSA §§7-101 to 7-104, as enacted by PL 1979, c. 540,
§1, are repealed.

 
Sec. B-10. 18-A MRSA Art. 7, Pt. 2, as amended, is repealed.

 
Sec. B-11. 18-A MRSA Art. 7, Pt. 3, as amended, is repealed.


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