A power of attorney form in New Mexico is a broad and sweeping document that allows you to give financial powers to someone else. In some cases, that person can make difficult medical decisions on your behalf or for your children.
There are several different free New Mexico power of attorney forms that involve the “principal” (the person assigning the powers) and the “agent” (the person receiving the powers).
New Mexico Durable Power of Attorney
The durable power of attorney in New Mexico lets you assign a trusted friend or relative to handle your financial decisions and affairs. Usually, it is a family member or spouse who is also a beneficiary in the principal’s will. The powers remain even if you become ill or are unable to make decisions.
New Mexico General Power of Attorney
The general (financial) power of attorney form in New Mexico is very similar to the durable form. The main difference between the two is that the agent’s powers will no longer exist if the principal becomes incapacitated by illness or injury.
New Mexico Limited Power of Attorney
As the name suggests, this is a New Mexico power of attorney form that applies to only specific situations. For example, if you’re selling a home or car and will be away, you can appoint someone to sign the documents for you.
New Mexico Medical Power of Attorney
Also called an advance directive, this power of attorney form in New Mexico complies with Chapter 24, Article 7A ( Uniform Health Care Decisions). It designates an agent who can make possible life-ending medical decisions. An agent can work with medical staff to ensure the principal’s choices of treatment are carried out.
New Mexico Minor (Child) Power of Attorney
Sometimes military service or other professional commitments can take a parent outside the country for long periods. In these instances, the parent principal can use a New Mexico power of attorney for minor child form to designate a caretaker to make medical care and education decisions for their child(ren).
Here are the answers to a few frequently asked questions regarding PoA forms in New Mexico, so you know what to expect.