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Part 4 Part 4 of 6: Preparing Your Power of Attorney Document Download Article
A power of attorney is a legal document that allows you to appoint another person to manage your affairs in the event you become incapacitated. There are different types of power of attorneys. Each type permits the person you appointed, known as the “attorney-in-fact,” to exercise different degrees of control over your affairs.
Types of Power of Attorney
Although a power of attorney does not have unlimited power, they can if you wish to give it to them. A general power of attorney can have the authority to make decisions for you fiscally. This can involve borrowing money, paying off debts and taxes and more. This puts them in charge of your finances.
The original POA should be filed at the circuit court in the principal's domicile county. Also, a certified copy of the POA should be filed at the office of recorder at the county where the real property is situated.
How to Get Power of Attorney in ArkansasThe Arkansas POA document must list the: full contact information and signature of the principal. name and contact information of the agent(s) date the agreement is made. powers granted. ... A notary public must be present and acknowledge the principal's signature.
An Arkansas power of attorney allows a person (the principal) to select an agent to make important decisions on their behalf. The most common designations are for financial or medical responsibility. An agent can be assigned to conduct any legal matter on behalf of the principal.
While Arkansas does not technically require you to get your POA notarized, notarization is very strongly recommended. Under Arkansas law, when you sign your POA in the presence of a notary public, your signature is presumed to be genuine—meaning your POA is more ironclad.
How Much Does a POA Cost? A durable power of attorney for finances or healthcare can be completed for little to no charge. Some states offer free fillable POA forms online or consumers can work with a local legal aid office to obtain a POA. There are also legal websites that sell POA templates for under $50.
It usually takes 8 to 10 weeks for The Office of the Public Guardian to register a power of attorney, so long as there are no mistakes on the form. It may take longer if there are issues they want to look into, although this is rare.
Your Rights: You retain full control over your affairs, even after you have signed a durable power of attorney. You can allow your agent to act or not at your discretion. You can also revoke the power of attorney at any time and for any reason.
How to Fill in a Medical Power of Attorney in ArkansasStep 1: Choose an Agent. Your agent, or attorney-in-fact, might make important medical decisions on your behalf if you become incapacitated. ... Step 2: Specify what healthcare decisions your agent can make. ... Step 3: Sign the form.
Any revocation of a legal document should be in writing and notarized so there will be no dispute as to its validity. No magic language is required. The revocation needs to include your name, the statement that you are of “sound mind,” and that you wish to revoke the existing power of attorney.
General Power of Attorney The general power of attorney is a broad mandate that gives an agent a lot of power to handle the affairs of a principal. The agent or the person designated to act on behalf of the principal is charged with handling several tasks.
A PoA set up before 1 October 2007 is called an enduring power of attorney (EPA). It's been replaced by the lasting power of attorney (LPA) for health and welfare. You can no longer make an EPA, but if one was made correctly and signed before 1 October 2007 it may still be used.
A legal guardian of the patient, if one has been appointed; The parents of the patient, in the case of an unmarried patient under age 18; The patient's spouse; The patient's adult child (or, if there is more than one, the majority of the patient's adult children participating in the decision);
How to Fill in a Medical Power of Attorney in ArkansasStep 1: Choose an Agent. Your agent, or attorney-in-fact, might make important medical decisions on your behalf if you become incapacitated. ... Step 2: Specify what healthcare decisions your agent can make. ... Step 3: Sign the form.
General Power of Attorney The general power of attorney is a broad mandate that gives an agent a lot of power to handle the affairs of a principal. The agent or the person designated to act on behalf of the principal is charged with handling several tasks.
How to WriteStep 1 – Download The Arkansas Living Will Template. ... Step 2 – Introduce The Arkansas Principal Issuing Medical Powers. ... Step 3 – Appoint The Arkansas Health Care Proxy With Principal Power. ... Step 4 – Dispense The Arkansas Health Care Proxy Contact Address. ... Step 5 – Reserve An Alternate Arkansas Health Care Proxy.More items...•
How to Make a Will in ArkansasDecide what property to include in your will.Decide who will inherit your property.Choose an executor to handle your estate.Choose a guardian for your children.Choose someone to manage children's property.Make your will.Sign your will in front of witnesses.Store your will safely.
You can make several different types of POAs in Arkansas. In particular, many estate plans include two POAs:
For your POA to be valid in Arkansas, it must meet these requirements .
Any power of attorney automatically ends at your death. A durable POA also ends if:
Your POA is effective immediately unless it explicitly states that it takes effect at a future date.
IMPORTANT INFORMATION. This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself.
When you accept the authority granted under this power of attorney, a special legal relationship is created between you and the principal. This relationship imposes upon you legal duties that continue until you resign or the power of attorney is terminated or revoked. You must:
This power of attorney becomes effective immediately unless you state otherwise in the Special Instructions.
Any person, including my agent, may rely upon the validity of this power of attorney or a copy of it unless that person knows it has terminated or is invalid.
This power of attorney does not authorize the agent to make health-care decisions for you.
Under Arkansas law, a durable power of attorney specifically grants the health care agent the authority to decline any medical intervention that only prolongs the dying process or maintains a permanent state of unconsciousness.
Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
POA can be granted to hand control of various aspects of the principal’s life to an agent or attorney-in-fact. A POA comes in various types that are designed to regulate:
Durable powers of attorney hand over full control of the principal’s finances to the agent and do not terminate when the principal becomes incapacitated. This document can be rescinded if: Principal passes away. Agent becomes unable or unwilling to carry out their role. Principal revokes the POA.
General POA. A general POA grants overall control over the principal’s finances to an agent but terminates when the principal becomes incapacitated or unable to make his or her own decisions. At this point, it is usually replaced by guardianship, conservatorship, or a durable POA.
In a property transaction, a POA will be filed by the realty agent in the appropriate real estate records as proof that the agent had the right to sign the deed in the principal’s name.
Witnessed (in some states) Notarized by a notary licensed in your state. The process of notarization is the most important legal step you need to take when you sign a POA. The notary’s job is to: Verify your and the other signing party’s identity.
A Limited POA grants control to the agent for a defined time or limited areas of the principal’s finances. It can be used when the principal:
This can happen if there is a dispute, and court supervision can be requested by: The principal— if he or she is unsure about the agent’s actions. The agent—if he or she faces challenges to the POA.