Maryland General and Limited Power of Attorney Act - Alterations
By modifying the statutory power of attorney forms, SB851 aims to clarify the roles and responsibilities of agents while granting them broader authority over important aspects of a principal's financial matters. This legislation is designed to simplify the process for individuals, especially the elderly or those with disabilities, who may require assistance in navigating complex governmental benefits systems. The bill is expected to facilitate smoother interactions between principals and their agents, making it easier to claim and manage such benefits effectively.
Senate Bill 851 amends the Maryland General and Limited Power of Attorney Act, particularly focusing on enhancements to the statutory form for a general power of attorney. The bill includes provisions that inform the principal and the agent about various powers related to tangible personal property, trusts, and estates. Additionally, it allows principals to grant agents specific powers related to managing governmental benefits and programs, including the authority to apply for and manage claims for benefits such as Social Security and Medicare.
The sentiment surrounding SB851 appears to be largely positive, with support from various advocacy groups that recognize its potential to help individuals manage their affairs better. Lawmakers have expressed confidence that the amendments will enhance the clarity and utility of the power of attorney forms, thereby protecting the rights and assets of principals. However, some critics may raise concerns about the potential for misuse of the expanded powers granted to agents, suggesting an ongoing need for safeguards.
Notable points of contention include the potential risks associated with granting agents broader powers, especially the authority related to gifting and transferring the principal's assets. Critics argue that while the bill aims to empower agents, it may also create opportunities for exploitation if proper checks are not instituted. The balance between ensuring convenience for principals and safeguarding against potential abuses by agents must be carefully managed as the bill is implemented.