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NUMBER SECTION PAGE # Section III FINANCIAL AID MANUAL App 9 DATE February 2012 SELF Loan Program Minnesota Office of Higher Education 1450 Energy Park Drive, Suite 350, St Paul, MN 55108-5227 POWER

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What is power of attorney?

Power of attorney is a legal document that allows an individual, known as the principal, to grant someone else, known as the agent or attorney-in-fact, the authority to act on their behalf in legal, financial, and other personal matters.

Who is required to file power of attorney?

The principal is the one who is required to file power of attorney, as they are the person granting someone else the authority to act on their behalf.

How to fill out power of attorney?

To fill out a power of attorney, you need to include the names and contact information of the principal and the chosen agent, specify the powers granted to the agent, and sign the document in the presence of a notary public or other authorized individuals.

What is the purpose of power of attorney?

The purpose of a power of attorney is to legally authorize someone else to make decisions and take actions on behalf of the principal, especially in situations where the principal may be unable to do so themselves due to illness, absence, or other reasons.

What information must be reported on power of attorney?

A power of attorney report should include the names and contact information of the principal and agent, details of the granted powers, the effective dates of the document, and any specific limitations or conditions on the agent's authority.

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