DURABLE FINANCIAL POWER OF ATTORNEY

(State of New Mexico)

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block
XI. Agent Acknowledgment (Optional)
XII. Certification of Incumbency (Optional)

[// GUIDANCE: Tailor the Table of Contents once all elective sections are finalized.]

I. DOCUMENT HEADER

1. Parties.
   a. Principal: [PRINCIPAL LEGAL NAME], residing at [ADDRESS].
   b. Agent: [PRIMARY AGENT LEGAL NAME], residing at [ADDRESS].
   c. Successor Agent(s): (i) [SUCCESSOR AGENT 1]; (ii) [SUCCESSOR AGENT 2] (each a “Successor Agent”).

2. Effective Date. This Durable Financial Power of Attorney (the “Agreement”) is effective as of [EFFECTIVE DATE] (the “Effective Date”).

3. Durability. Pursuant to the New Mexico Uniform Power of Attorney Act, N.M. Stat. Ann. §§ 45-5B-101 et seq. (the “Act”), this Power of Attorney shall not be affected by the subsequent incapacity of the Principal.

4. Governing Law & Venue. This Agreement shall be governed by and construed in accordance with the “state_power_of_attorney_law” of New Mexico. The parties irrevocably submit to the exclusive jurisdiction of the state probate court located in [COUNTY], New Mexico for any proceeding permitted under Section VIII.

5. Consideration. The mutual promises herein constitute sufficient consideration.

II. DEFINITIONS

For purposes of this Agreement, capitalized terms have the meanings set forth below. Terms used but not defined have the meanings assigned by the Act.

“Act” – Defined in Section I(3).

“Agent” – The individual identified in Section I(1)(b), together with any properly acting Successor Agent.

“Assets Under Management” – All property, accounts, cash, securities, and contract rights subject to the Agent’s authority under Section III.

“Durable” – Having effect notwithstanding the Principal’s incapacity, per the Act.

“Excluded Powers” – Those powers, if any, specified in Section III(3)(b) that the Principal elects not to grant.

“Liability Cap” – The limitation described in Section VII(2).

“Principal” – The individual identified in Section I(1)(a).

“Revocation” – Any written instrument executed in accordance with Section III(8) terminating this Agreement.

“Successor Agent” – Defined in Section I(1)(c).

III. OPERATIVE PROVISIONS

1. Grant of Authority. The Principal hereby appoints the Agent to act for the Principal with respect to all matters described in this Section III, subject to the limitations herein.

2. Scope of Authority. Except as limited in Section III(3), the Agent may exercise any financial powers enumerated in N.M. Stat. Ann. § 45-5B-204 and the following additional powers:
   a. Real property transactions;
   b. Tangible personal property transactions;
   c. Banking and other financial institution transactions;
   d. Securities and commodities transactions;
   e. Digital asset management to the fullest extent allowed by law;
   f. Fiduciary and trust matters, including the authority to disclaim or assign interests;
   g. Tax matters, including the authority to prepare, sign, and file returns;
   h. Business operation transactions;
   i. Claims and litigation management;
   j. Beneficiary designations under retirement plans, to the extent permitted by the Act.

3. Limitations.
   a. Statutory Restrictions. The Agent may not (i) create or revoke a will, (ii) perform acts of personal service on behalf of the Principal, or (iii) vote in public elections on behalf of the Principal.
   b. Excluded Powers. The Principal elects to withhold the following powers (if none, insert “None”): [LIST EXCLUDED POWERS OR “None”].

4. Special Instructions. [INSERT ANY SPECIAL INSTRUCTIONS OR “None.”]

5. Durability Provision. This Power of Attorney is durable and shall remain in effect until terminated pursuant to Section III(8).

6. Succession.
   a. A Successor Agent shall serve in the order listed in Section I(1)(c) if the acting Agent resigns, is incapacitated, dies, or is unwilling or unable to act.
   b. Each Successor Agent shall have the same authority as the original Agent unless otherwise stated.

7. Co-Agents. [CHOOSE ONE]
   a. ☐ Co-Agents May Act Independently
   b. ☐ Co-Agents Must Act Jointly

8. Revocation & Termination.
   a. Voluntary Revocation. The Principal may revoke this Agreement at any time by delivering a written, signed, and dated revocation to the Agent and any persons or institutions the Agent is dealing with on the Principal’s behalf.
   b. Automatic Termination. This Agreement terminates automatically upon:
   (i) The Principal’s death;
   (ii) The execution of a later-dated power of attorney that expressly revokes this Agreement; or
   (iii) The complete disposition of all Assets Under Management.
   c. Effect on Prior Powers. This Agreement supersedes any prior financial power of attorney executed by the Principal except as expressly stated herein.

[// GUIDANCE: Provide clients with a simple short-form “Notice of Revocation” they can sign and distribute.]

IV. REPRESENTATIONS & WARRANTIES

1. By Principal. The Principal represents that:
   a. The Principal is of legal age and sound mind.
   b. All information provided to the Agent concerning Assets Under Management is, to the best of the Principal’s knowledge, true and complete.

2. By Agent (upon acceptance). The Agent represents that:
   a. The Agent is willing to act and understands the fiduciary duties imposed by the Act and this Agreement;
   b. The Agent is not disqualified from serving due to conflict of interest or prior breach of fiduciary duty; and
   c. The Agent will not commingle the Principal’s property with the Agent’s own property, except as otherwise permitted by law.

3. Survival. The representations and warranties in this Section IV shall survive acceptance of the agency and any termination of this Agreement to the fullest extent permitted by law.

V. COVENANTS & RESTRICTIONS

1. Fiduciary Standard. The Agent shall act in good faith, within the scope of authority granted, in accordance with the Principal’s reasonable expectations, and in the Principal’s best interest.

2. Record-Keeping. The Agent shall maintain accurate books and records of all transactions, available for inspection on reasonable request by the Principal, a court of competent jurisdiction, or any person authorized under the Act.

3. Notice Obligations.
   a. The Agent shall promptly notify the Principal of any material transaction exceeding [DOLLAR THRESHOLD] or any litigation involving the Principal’s property.
   b. The Agent shall notify all Successor Agents upon resignation.

4. Delegation. The Agent may delegate authority to professionals (e.g., attorneys, accountants, investment advisers) but remains liable for fiduciary oversight.

5. Compliance with Law. The Agent shall comply with all applicable federal, state, and local laws, including securities, tax, and anti-money-laundering regulations.

VI. DEFAULT & REMEDIES

1. Events of Default. The following constitute defaults by the Agent:
   a. Breach of fiduciary duty;
   b. Self-dealing not expressly authorized;
   c. Failure to provide an accounting within thirty (30) days after written demand;
   d. Misapplication or waste of Assets Under Management;
   e. Conviction of a crime involving dishonesty.

2. Cure Period. Except for willful misconduct, the Agent shall have ten (10) days after written notice to cure any default.

3. Remedies.
   a. Suspension or removal of the Agent;
   b. Injunctive relief pursuant to Section VIII(4);
   c. Restitution and disgorgement of profits;
   d. Recovery of actual damages, attorneys’ fees, and costs.

VII. RISK ALLOCATION

1. Indemnification.
   a. The Agent shall indemnify and hold harmless the Principal and the Principal’s estate from any liability, loss, or expense arising from the Agent’s breach of fiduciary duty.
   b. The Principal shall indemnify the Agent for any liability incurred in good faith reliance on this Agreement and the Act, except to the extent arising from the Agent’s negligence, willful misconduct, or breach of this Agreement.

2. Limitation of Liability. Except for fraud, gross negligence, or willful misconduct, the Agent’s aggregate liability to the Principal shall not exceed the total value, at the time of loss, of the Assets Under Management (the “Liability Cap”).

3. Insurance. The Agent shall maintain errors and omissions or fiduciary liability insurance in a minimum amount of [COVERAGE AMOUNT].

4. Force Majeure. The Agent shall not be liable for non-performance due to events beyond the Agent’s reasonable control, including acts of God, war, or governmental action, provided the Agent uses commercially reasonable efforts to mitigate.

VIII. DISPUTE RESOLUTION

1. Governing Law. Refer to Section I(4).

2. Forum Selection. Exclusive venue shall lie in the state probate court of [COUNTY], New Mexico.

3. Limited Arbitration. Any monetary dispute not involving allegations of Agent breach of fiduciary duty and valued at or below $50,000 shall be resolved by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Rules. Judgment on the award may be entered in any court of competent jurisdiction.

4. Injunctive Relief. Notwithstanding Section VIII(3), either party may seek injunctive or equitable relief in the probate court to enforce fiduciary obligations.

5. Jury Waiver. To the extent permitted under New Mexico law, the parties knowingly and voluntarily waive trial by jury in any civil action or proceeding arising under this Agreement, except where such waiver is prohibited by law.

IX. GENERAL PROVISIONS

1. Amendment & Waiver. This Agreement may be amended only by a writing signed by the Principal (or a court order) and acknowledged as required for execution under Section X. No waiver of any provision shall be deemed a waiver of any other provision.

2. Assignment. The Agent may not assign the agency created hereunder.

3. Successors & Assigns. This Agreement is binding upon and inures to the benefit of the Principal’s heirs, executors, administrators, and legal representatives.

4. Severability. If any provision is held invalid, the remainder shall be enforced to the maximum extent permissible.

5. Integration. This Agreement constitutes the entire understanding between the parties and supersedes all prior financial powers of attorney except as stated in Section III(8)(c).

6. Counterparts; Electronic Signatures. This Agreement may be executed in counterparts and by electronic signature, each of which constitutes an original and all of which together constitute one instrument.

X. EXECUTION BLOCK

[// GUIDANCE: New Mexico requires the Principal’s signature to be acknowledged before a notarial officer. Witnesses are not statutorily required but are customary practice.]

PRINCIPAL

[PRINCIPAL LEGAL NAME]
Date: _______

NOTARY ACKNOWLEDGMENT
State of New Mexico )
County of [__] ) ss.

On this ___ day of __, 20_, before me, the undersigned Notary Public, personally appeared [PRINCIPAL LEGAL NAME], known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that (s)he executed the same for the purposes therein contained.

Notary Public
My Commission Expires: _____

AGENT SIGNATURE (Optional but Strongly Recommended)
I, [AGENT NAME], have read the attached “Important Information for Agent” under the New Mexico Uniform Power of Attorney Act and I accept the fiduciary duties imposed thereby.

[AGENT NAME]
Date: _______

XI. AGENT ACKNOWLEDGMENT (OPTIONAL)

“I, the undersigned Agent, understand that I have a legal duty to:
• act in accordance with the Principal’s reasonable expectations;
• act in good faith; and
• act only within the scope of authority granted.”

(Signature line identical to Section X.)

XII. CERTIFICATION OF INCUMBENCY (OPTIONAL)

To: [THIRD-PARTY RELIANCE ADDRESSEE]
Re: Durable Financial Power of Attorney dated [EFFECTIVE DATE]

I, [AGENT NAME], certify that:
1. The attached Power of Attorney is a true and correct copy and remains in full force and effect;
2. The Principal is alive and has not revoked the Power of Attorney;
3. I am the duly acting Agent and my authority has not been suspended or terminated.

[AGENT NAME], Agent
Date: _______

[// GUIDANCE: Provide clients with the statutory “Important Information for Agent” form (N.M. Stat. Ann. § 45-5B-301) as a separate attachment.]