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the new mexico power of attorney in this video we will explain what types of power of attorney there are and what you need to know when creating one in new mexico what is a power of attorney a power of attorney is a document that allows you to legally appoint someone else to make specific decisions on your behalf if you need help or lose the ability to make decisions it might also be handy when you need someone to handle your financial or other matters for a short period for example during your vacation or hospital stay someone who's giving authority is called a principal while the person receiving the authority is usually called an agent or an attorney in fact but some of the less common names also include representative proxy and surrogate what types of power of attorney can you create by duration a durable power of attorney which is used if you need a poa that will remain in effect even if you become incapacitated in many states the durability of power of attorney is presumed which means the document is considered durable unless otherwise provided a general power of attorney this is used if you need a power of attorney that will expire if you become incapacitated by a certain date or once specific actions have been completed it is usually used to lawfully deal with various financial matters on the principal's behalf types by the scope of powers granted to an agent a limited power of attorney this is used if you want to grant limited rights to a trusted person such a document can be used to let someone else take care of your routine related to personal business and financial matters a general power of attorney this is used if you want to cover a broad range of authorities granted to an agent in the document types by object a vehicle power of attorney this is used if you want to authorize an agent to act in regards to your vehicle on your behalf a tax power of attorney this is used if you need to delegate the authority to file your taxes to another person a person can be authorized to file both federal and state taxes if federal taxes are to be filed on your behalf a statutory form or special federal form 2848 should be used however most states provide their own tax poa forms and do not accept the federal one a child power of attorney this is used if you want to hand over full or partial control over your child or minor to a person you trust for a certain period of time a real estate power of attorney this is used if you need to authorize someone else to perform single or multiple transactions in regards to your real estate a medical power of attorney this is used if you need a person who would deal with medical decisions related to your health care in the event you are no longer able to do it yourself this poa can sometimes be combined with other medical forms such as a living will or advanced health care directive how do you revoke a power of attorney depending on the type of the power of attorney requirements for revocation may vary generally revocation of power of attorney happens when the principal dies the principle becomes incapacitated for non-durable powers of attorney the principle creates a revocation act there is a special condition about the revocation date in the document the purpose of power of attorney can be considered accomplished the agent cannot continue acting as such and the document does not provide for another agent and finally a court appoints a fiduciary to revoke the document creating a power of attorney in new mexico in the state of new mexico any power of attorney is considered durable unless otherwise is provided in the document in terms of signing requirements according to the new mexico statutes all poas should be signed by the principal and acknowledged before notary public a medical power of attorney according to the new mexico legislature can be attested by two witnesses but it is not mandatory a tax power of attorney has the least requirements and only needs to be signed by the principal as for statutory forms new mexico statute includes a statutory durable poa form that can be used to grant different powers to an agent another statutory poa form which is a tax poa form acd 31 102 can be found on the new mexico taxation and revenue department website it allows you to delegate your tax filing matters to a trusted person in addition if you need to authorize a person to handle your health related matters in the event of your incapacitation a durable power of attorney for health care form will become handy it is provided by the new mexico department of health website if you want to temporarily delegate the parental authority you can do it in new mexico for no more than six months according to the state laws the state of new mexico also allows for creating a springing power of attorney such a document is put in force only in the event you become incapacitated