New Mexico durable financial (Statutory) power of attorney allows a trusted person you may name as your Attorney-In-Fact, or representative, who must be willing to watch over your business interests and investments. He or she should be available locally, and it is also a good idea to name an alternative in case your first choice turns out to be unavailable when and if the time comes.
If you want the agreement to go into effect upon signing, it’s best to opt for a “Durable” Financial Power of Attorney, or it becomes void if you do become incapacitated. With a “Springing” Durable Power of Attorney, the agreement only comes into force if your physician is forced to declare your incapacitation.
The powers a Principal is able to grant are as follows;
It is highly recommended that the document be signed in the presence of a notary public or at least two (2) witnesses above the ages of eighteen (18).