Maryland’s General Assembly passed a new statute governing powers of attorney that would be valid under Maryland law, including providing two new forms in the statute to help standardize the forms used by attorneys to help their clients plan their estate. Powers of attorney executed after October 1 will need to comply with the requirements of the statute, including the requirement that signatures of principals be notarized and accompanied by the signatures of two witnesses. In addition, the new statutory forms provide a space for the Agent to sign, accepting their appointment, and for the signature of the Agent to be notarized.
Hopefully the changes to Maryland law will help to reduce the fraud and confusion with regards to what constitutes a valid power of attorney. The Maryland Law Blog provides further comments and links to the legislation.
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