8.6. HANDOUTS 04-04-2016 - Laserfiche WebLink

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READ THIS NOTICE CAREFULLY. The power of attorney form that you will be signing is a legal document. It is governed by Minnesota Statutes chapter 523. If there is anything about this farm that you do not understand, you should seek legal advice. PURPOSE: The purpose of the power of attorney is for you, the principal, to give broad and sweeping powers to your attorneys) -in -fact, who is the person you designate to handle your affairs. Any action taken by your attorneys) -in -fact pursuant to the powers you designate in this power of attorney form binds you, your heirs and assigns, and the representative of your estate in the same manner as though you took the action yourself. POWERS GIVEN: You will be granting the attorneys) -in -fact power to enter into transactions relating to any of your real or personal property, even without your consent or any advance notice to you. The powers granted to the attorneys) -in -fact are broad and not supervised. THIS POWER OF ATTORNEY DOES NOT GRANT ANY POWERS TO MAKE HEALTH CARE DECISIONS FOR YOU. TO GIVE SOMEONE THOSE POWERS, YOU MUST USE A HEALTH CARE DIRECTIVE THAT COMPLIES WITH MINNESOTA STATUTES CHAPTER 1450. DUTIES OF YOUR ATTORNEY(S)-IN-FACT: Your attorneys) -in -fact must keep complete records of all transactions entered into on your behalf You may request that your attorney(s)-in-fact provide you or someone else that you designate a periodic accounting, which is a written statement that gives reasonable notice of all transactions entered into on your behalf. Your attomey(s)-in-fact must also render an accounting if the attorney- in-fact reimburses himself or herself for any expenditure they made on behalf of you. An attorney-in-fact is personally liable to any person, including you, who is injured by an action taken by an attorney-in-fact in bad l faith under the power of attorney or by an attorney -in -fact's failure to account when the attorney-in-fact has a duty to account under this section. The attorney(s)-in-fact must act with your interests utmost in mind. TERMINATION: If you choose, your attorneys) -in -fact may exercise these powers throughout your lifetime, both before and after you become incapacitated. However, a court can take away the powers of your attorney(s)- in-fact because of improper acts. You may also revoke this power of attorney if you wish. This prover of attorney is autornatically terminated if the power is granted to your spouse and proceedings are commenced for dissolution, legal separation, or annulment of your marriage. This power of attorney authorizes, but does not require, the attorney(s)-in-fact to act for you. You are not required to sign this power of attorney, but it will not take effect without your signature. You should not sign this power of attorney if you do not understand everything in it, and what your attorneys) -in -fact will be able to do if you do sign it. Please P" Is e r initials on the following line indicating you have read this IMPORTANT NOTICE TO THE PRINCIP L: (InitialsofPrincipal)