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." |