MN HF232

Modifies the statutory short form power of attorney to require principals to read and initial an "Important Notice to Principal" before signing, and attorneys-in-fact to acknowledge reading and understanding an "Important Notice to Attorney(s)-in-Fact" before acting.

Changes gift-making restrictions for attorneys-in-fact by replacing the $10,000 annual limit with the federal annual gift tax exclusion amount, and requires principal authorization to allow gifts to the attorney-in-fact or anyone they are legally obligated to support.

Clarifies that the "all other matters" power (option N) does not include authority to make health care decisions, which must be granted through a separate health care directive under Minnesota Statutes chapter 145C.

Authorizes courts to provide protective orders and other relief for principals or interested persons regarding attorney-in-fact accountability, including the ability to recover reasonable attorney fees and costs if an attorney-in-fact fails to render required accountings.

Makes amendments effective January 1, 2014, for powers of attorney executed on or after that date, while preserving validity of earlier documents; judicial relief provisions effective August 1, 2013.