Whether you have signed a power of attorney or you are an attorney-in-fact in someone’s POA, you need to know the various aspects.
What Is POA?
A Durable POA is an essential legal document. It gives a trusted-person, the right to do certain things for the person giving it. Rights and authorities are mentioned in the POA, and these can be broad or limited. In legal parlance, the person giving the power of authority is termed as ‘Principal’, and the person who has been given the authority is termed as ‘Attorney-in-Fact’ or ‘AIF’.
Uses of Power of Attorney
There are various ways in which a power of attorney can be used. It can be used to give another person the right to sell a car, home or other property on behalf of the Principal. It can also be used to make healthcare decisions, to undertake the financial transactions, to sign the legal documents which the Principal can’t sign for one reason or the other.
General POA gives the agent or AIF broad power to do almost what the Principal could. When filling the power of attorney form Arizona, the Principal can choose which power to give to the AIF and which do not. It is often given to someone close and well in advance for the days when the principal might not be able to take care of the things on own.
An ordinary POA gets terminated when the principal becomes unable to act, e.g. Nervous Disorders. If the POA comes to an end in such a way, it would not be beneficial for the Principal. There would be none to take care when needed the most. To overcome the issue, there is a legal remedy known as ‘Durable Power of Attorney’. In it, there is an explicit mention that states that power given to the agent or AIF continues to exist even when the Principal is incapacitated. However, like other POAs, it can also be terminated. When you are filling the power of attorney form Arizona online, you can choose which type the POA is going to be.
At the time of signing a Power of Attorney, the principal must be of sound mind. However, the durable power of attorney remains valid when the person becomes incapacitated. The principal must understand what he is going to sign at the time of execution of POA. It may be that the Principal may have a complicated mental illness, but when he is in senses, he could sign the POA to ensure that someone is there to take care for him when the medical condition becomes acute. The durable POA will remain valid, even if they don’t remember signing it. Furthermore, the Principal must know what he is doing, what powers he is giving and what may get affected by the POA.
Duties of Agent of Attorney-In-Fact
POA gives ample powers to the agent of AIF to act on his behalf in some issues at a time when it needed the most. Fill the Power of Attorney form Arizona online and give the written copy to AIF so that they know what they can do or not. If an AIF or agent is not sure whether he can act in certain circumstances, he should talk to the principal or lawyer to clarify. There many actions that the agent or AIF should never take. For instance, the AIF can’t vote or act as a witness or create or revoke a Will.
There are many reputed and trusted legal forms site where a POA can be created. Although, lawyers can also help in creating as well.