POA or DPOA or POWER OF ATTORNEY
There are many misconceptions as to what a POA actually is. Some think it is a single document when actually it is a type of document. POAs can come in many forms: Limited, Springing, Immediate, Time or activity sensitive, Durable, Financial, Health Care, Mental Health Care. Each POA document is designed for different and specific needs you have in your life. To make a POA, you need to choose an agent and choose what type of POA you need. The purpose of the POA may affect who you want for your agent as some people are better suited to certain tasks than others. You can either create a General Power of Attorney which gives broad powers or a Limited Power of Attorney which can limit what your agent can do to something like a specific act. Not all POAs are made the same. Our experienced attorney can review and educate you on which POAs are right for your specific needs and goals. For a review call the Arizona Law Doctor today at 480-360-0537.
Power of Attorney Types in Arizona
Limited Power of Attorney
A Limited Power of Attorney grants the agent restricted authority. The authority may be limited to specific acts, for a specific time period, or under specific situations. For example, if you sell your car you can create a Limited Power of Attorney to transfer the title of your car. You may also need a Power of Attorney if you or your spouse cannot be present at a real estate closing. An older relative or person with a serious illness may want someone else to conduct business for them or handle financial matters on their behalf. The Limited Power of Attorney expires at the time specified. Limited Power of Attorney can be created even for the length of a phone call. For example, when your spouse calls the credit card company for your account. You may be asked to give permission for the credit card agent to talk to your spouse. If no termination time is specified, the power will automatically end if the principal dies or becomes incapacitated.
General Power of Attorney
A General Power of Attorney grants broad authority to the agent. Under a General Power of Attorney, the agent has the ability to do whatever you could legally do yourself. Because of the extensive power that comes with a General Power of Attorney, give serious consideration before creating it and selecting an agent. With a General Power of Attorney, your agent has the power to buy and sell a property, mortgage your property, and close and open financial accounts all in your name. A General Power of Attorney terminates upon your passing, or revocation the Power of Attorney. A General Power of Attorney may also terminate upon your incapacity unless it is Durable.
Durable Power of Attorney
A Durable Power of Attorney gives your agent legal authority to make decisions for you if you are incapacitated. Unlike a mere General Power of Attorney, it is durable and does not terminate if you are incapacitated. A Durable Power of Attorney only ends at death. These types of Powers of Attorney must be created before you are incapacitated, while you are of sound mind. It must also include the state required statutory language to be effective. Every state has different rules and requirements. So, if you move out of state you should have your Powers of Attorney reviewed and updated when you move to a new state to ensure they will do what you want when the time comes.
Arizona Financial Durable Power of Attorney
An Arizona Financial Durable Power of Attorney is a document that allows you to appoint someone to make financial decisions on your behalf at various times in your life including if you become incapacitated. These documents can be used to appoint someone to make personal and financial decisions. The use of a durable power of attorney allows those involved to avoid conservatorship, the complicated and expensive process by which the court appoints someone to function in this capacity.
Arizona Health Care Power of Attorney
An Arizona Health Care Power of Attorney is a document that allows you to appoint someone to make health care and end-of-life decisions on your behalf. It is like the Arizona Financial Durable Power of Attorney in the way that it does not end if you become incapacitated, but it is only for your health care decisions. Your agent can make your wishes known as to medical procedures and end of life decisions like the use of life support. You can grant the agent complete or limited authority over your health care decisions. A health care proxy on its own is only effective if you enter into a persistent unconscious or vegetative state and relates only to the immediate needs of such a situation.
These types of Powers of Attorney must be created before you are incapacitated, while you are of sound mind. It must also include the state required statutory language to be effective. Every state has different rules and requirements. So, if you move out of state you should have your Powers of Attorney reviewed and updated when you move to a new state to ensure they will do what you want when the time comes.
Select an agent that will fulfill your wishes. If you are considering a Power of Attorney, contact our attorneys at Arizona Law Doctor today at 480-360-0537 to select one that best fits your needs.
Advanced Health Care Directives or Living Will
An Advanced Health Care Directive or Living Will are documents to let health care professionals know your wishes, if you are incapacitated. A living will gives specific instructions about your health care decisions to loved ones and providers.
