A power of attorney in Arizona gives a person the authority to handle matters for you.
Who Needs a Power of Attorney?
If you become incapacitated by illness or injury, you need a power of attorney. You also need one if you become unable to manage your own affairs due to dementia or other cognitive impairment. But you can only sign one BEFORE you become incapacitated or get a cognitive impairment.
What Are the Types of Powers of Attorney?
People divide powers of attorney in two ways. First, they get divided by the types of decisions they authorize. Some are for healthcare and others are for financial decisions. Second, they are divided by how broad they are. These are either general or special powers of attorney.
What Does an Arizona Healthcare Power of Attorney Authorize?
A health care power of attorney may include any of these powers:
- The power to give or withhold informed consent to treatment.
- Select a long-term care or hospice facility.
- Maintain you at home.
- Obtain your medical information.
- Hire and fire health care staff.
What Does an General Power of Attorney Authorize?
A general power of attorney allows another person to make these (and other) decisions for you:
- Buy and sell assets.
- Enter contracts.
- Manage property.
- Operate a business.
- Manage securities.
- Collect and settle obligations.
- Apply for government benefits.
- Manage retirement plans.
What’s the difference between a general and special power of attorney?
A general power of attorney authorizes very broad powers. The person signing the power of attorney wants to cover all possible bases in case he or she becomes incapacitated. In contrast, a special power of attorney authorizes someone to take only specific actions spelled out in the document.
What is a “Durable” Power of Attorney?
The word “durable” in this context means that it survives even after the principal becomes incapacitated. For example, if you are laid up in the hospital or get detained by a foreign government, you want someone else to be able to manage your affairs while you are gone.
When Do You Need a Power of Attorney?.
If you are incapacitated, such as through a serious medical condition or injury, you need a power of attorney. A power of attorney gives another individual the ability to make decisions on your own behalf. It lets a person that you choose manage your finances and property.
How Can I Create a Power of Attorney?
State governments usually provide sample power of attorney documents. Arizona provides this sample durable financial power of attorney and healthcare power of attorney. These are general in nature. If you want a more specific document, you should talk to an experienced estate plan attorney.
We Would Love To Help You.
If you want a power of attorney, just give us a call at 602-443-4888.
How Does a Power of Attorney Work?.
If you become incapacitated, such as through a serious injury or illness, the person you appointed as agent under a power of attorney can make decisions on your behalf. This person is called your “attorney-in-fact.” An attorney-in-fact can act on your behalf when you are unable to do so.