Attorney Approved Version!
Maryland features another type of financial power of attorney form which is the limited. The durable power of attorney form enables you to grant sweeping authority to your agent, so you must be careful only to choose a highly trusted individual to act as your agent.
He or she will have the power to conduct the following actions on your behalf:
Contract with another party or rescind or modify contracts
Hire and pay an attorney or another advisor
Engage and participate in litigation
Do any lawful act with your property
If you wish to grant only one or a number of specific powers, you can use a limited power of attorney form. This form lists over 100 powers the agent may wield, and you must write your initials beside each one you wish to grant to your agent. These include specific actions like selling stock and selling real property.
Signing Requirements – The power of attorney must be in writing and signed by the principal, or by someone else acting at the direction of the principal and in the presence of the principal. The signing must be acknowledged by the principal in the presence of a notary public. And the power of attorney must be attested and signed by two or more adult witnesses who affix their signature in the presence of the principal and of each other. The notary may serve as one of the two required attesting witnesses, unless the notary is observing the signing remotely with digital communication technology as described in § 18–214 of the State Government Article.
Laws – Trust and Estates Code Title 17 (General and Limited Power of Attorney Act)
Sources