A Montana general power of attorney (GPOA) is a legal document recording a principal’s transfer of rights to an agent so the agent can manage some or all of their financial affairs. Under this document’s guidance, an agent may be able to open a bank account, send a gift, or invest money on the principal’s behalf.
Once the principal signs this non-durable document and meets other state requirements, the agent retains their rights until the principal becomes incapacitated. The principal can also revoke the agent’s powers if they no longer want the agent to have decision-making powers. Consider using a durable power of attorney form to grant longer-lasting powers.
Laws — MT Code Uniform Power of Attorney Act.
Authority (MT Code § 72-31-336) – An agent can exercise their authority in accordance with the document’s provisions.
Signing Requirements (MT Code § 72-31-305) – The principal must sign this form in a notary public’s presence for it to be valid.
Presumption of Durability (MT Code § 72-31-304) – Montana state law provides for presumed durability of powers of attorney. If the principal wants the powers to terminate when they become incapacitated, they must include an explicit statement expressing this desire.
