Power of Attorney in Arkansas
Have you ever wondered who would take care of your finances or make decisions if you cannot do so for yourself? Don’t worry about leaving it up to whoever the law says has this right. Look into securing a power of attorney. This legal document allows you to prepare for any situation where you may need someone else to decide for you. With the help of an attorney in Arkansas, you can easily set one up and get peace of mind today.
What Is a Power of Attorney?
The American Bar Association defines power of attorney as a document that gives the power to act on your behalf as a legal agent. This authority may either be temporary, or permanent. The result is that your designated agent can manage your affairs without your written approval.
Why Would You Need a Power of Attorney?
A power of attorney (POA) can offer convenience by allowing someone to manage your assets without needing your direct approval for every decision. In , a POA grants the designated individual authority to act on your behalf, bypassing standard checks and balances.
Another common reason to establish a POA is to ensure decisions are made if you become unable to do so yourself. This provides peace of mind, knowing that a trusted person can handle important matters on your behalf. POAs are often used by seniors or individuals with severe physical or mental conditions that prevent them from making informed decisions.
Types of Power of Attorney
Not every POA grants the same powers to your agent. You can choose from different POAs to cater to what best suits your situation.
General Power of Attorney
A general POA grants an array of powers to the agent. This can include:
- The ability to handle your financial matters and accounts
- Power to manage your insurance needs
- The ability to operate your business
- The ability to make business decisions on your behalf
- Power to hire or fire employees
- The ability to settle claims against you
- The ability to change your estate plan.
You may use this type of POA if you will be away for an extended period and need legal representation in Arkansas to handle your affairs. This legal arrangement may happen during your absence. Or, it may occur in a situation where you cannot make the decisions on your own due to an illness or injury.
Special Power of Attorney
A special POA is more specific. You have the power to sign off on distinct powers granted to your agent. If you only want someone to sign off on real estate deals, for example, a limited power of attorney would be proper. You may use a special POA when you don’t have the time to deal with specific affairs due to time or health constraints.
Creating a limited arrangement requires filing paperwork with the Department of Finance and Administration. Thankfully, the state government offers a statutory form that Arkansas residents can use. At present, you can create a special agreement for finances or healthcare decisions.
Health Care Power of Attorney
This type of POA grants your agent the right to make all medical decisions on your behalf. It comes in handy when you are not conscious or are otherwise unable to make decisions regarding your health care. While state laws can differ, your POA could have the ability to make serious decisions, like ending life support.
You may use a health care POA if you are elderly or sick. You might find yourself in a situation where you can’t make decisions on your own. Power of attorney can transfer to your child or someone you trust so that care can continue in your best interests.
Durable Power of Attorney
A durable power of attorney enables the agent to control specified functions. DPOAs are useful if you anticipate losing your mental faculties, such as after an Alzheimer’s diagnosis. In essence, it acts as a preventative safeguard.
Arkansas Code provides an excellent example of how this dynamic can work. Advance directives for medical treatments often involve a power of attorney agent. If you cannot make decisions for yourself, they have the authority to act in your best interests.
Choosing an Agent
The person you choose as an agent should be someone you trust. Often, people choose a family member. Your family members usually have your best interests in mind and are close to you. However, you can select any individual to be your POA. Keep in mind that whoever you choose will be in charge of managing your affairs and should be someone you trust to honor your wishes.
Appointing Multiple Agents
As principal, in Arkansas you have the right to appoint multiple agents. You decide whether these agents act together or make separate decisions. Having two or more agents establishes a system of checks and balances. This procedure keeps one agent from making too rash of a judgment. However, it can also lead to discrepancies that can cause delays.
At the very least, it is crucial to have a backup POA should something happen to your primary. A successor agent can take control once the primary agent either passes away or cannot carry out the duties of an agent.
Revoking a Power of Attorney in Arkansas
You have the right to revoke your power of attorney at any time as long as you are of sound mind to do so. You will need to put your revocation in writing and file it with the same place in Arkansas that handled your original POA paperwork.
Another party may also try to revoke your POA. Although, that becomes a much more complex legal proceeding and would be difficult to prove in court. The person would have to show the agent has done something to jeopardize your interests.
Arkansas law is careful about how it describes who can revoke power of attorney and how they go about it. First, the parties that can take this action include the maker of the agreement or their legal representatives. Furthermore, this request must be in writing and approved by the court system.
Using a POA to Protect Your Interests
You can insert provisions into your agreement that force your agent to report to an outside party. For example, a family accountant or a designated medical doctor could fill this role. This arrangement adds another layer of security and guarantees that another party can review decisions.
Arkansas Code also has a specific provision for when power of attorney becomes effective for medical incapacity. If you do not have an agent before an emergency, there are mechanisms for physicians, judges, or attorneys to make decisions. However, this legislation largely assumes that a person with your best interests in mind will become the power of attorney agent.
Do I Need a Lawyer to File POA in Arkansas?
It is wise to consult with an attorney who specializes in Arkansas trust or estate issues. POA paperwork can be complex, so having a dedicated Arkansas legal professional can be helpful. A lawyer can also help you add provisions that safeguard your interests when you cannot look out for yourself.
Work with an Experienced Local Lawyer in Arkansas
If you want to create a power of attorney, you should begin by speaking with an attorney. We can match you with an experienced Arkansas who can help you navigate your POA. We can even help you connect with an attorney across Arkansas state lines.
Submit a request online or call us today at (866) 345-6784 to get in touch with an experienced lawyer in your area!
About the Author
Aaron is a professional legal writer with a B.S. in English Education from Southern Illinois University – Carbondale. He has written, published, and edited thousands of legal articles for RequestLegalHelp, which has connected over 5 million people to legal help in the United States.
With over five years of experience writing thousands of legal articles for law firms across the U.S. and Canada, Aaron specializes in covering federal, state, and city-level legal issues ranging from auto accidents to wrongful terminations. Contact Aaron at [email protected] for article suggestions, collaborations, or inquiries.
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