We hope you never get to a situation where you will need to use a power of attorney. However, to be on a safer side and to protect yourself from the uglier side of life, there is no harm in having a power of attorney in Arizona.
It may be an emotionally draining process, but once you have it, it provides peace of mind. Here is all about the general understanding of a power of attorney Arizona.
What is Arizona Power of Attorney?
Arizona power of attorney is a legal document that grants an adult the authority to act on your behalf when you become incapable of making sound decisions for yourself in Arizona. This adult can be any trustworthy person and someone you consider worthy. Such a person is known as ‘agent’ or ‘attorney in fact.’ You will be considered as the ‘principal’ in a power of attorney.
What's Covered In An Arizona Power Of Attorney?
Through a POA, you can delegate legal, financial, mental healthcare, and medical powers to another person. There are various powers and obligations that can be covered under Arizona’s General Power of Attorney. These are:
Signing this power will give the agent the authority to deposit or withdraw money from the principal’s bank accounts, to take the loan, borrow money, receive interest, dividend, and credit due and enjoy other such related banking services on the principal’s behalf.
It also grants power to the agent to buy or sell real estate property on your behalf. To mortgage, lease, rent, transfer in trust, and perform other similar duties related to real property.
Also, the agent or ‘attorney in fact’ is given the authority to sell, buy, exchange, transfer, personal mortgage property of the principal as and when desired upon the best interests of the principal.
The agent can also deal with the business transactions and perform other related responsibilities of assignment of mortgage, trust deed, bill of lading, etc. on the principal’s behalf.
The principal can appoint an agent to perform as many powers as he/she wants to.
Types of Power of Attorney in Arizona
It is important to know the different types of Arizona power of attorney to know what type of POA forms you could use and when. So, in Arizona, there are five types of power of attorney. They are:
General Power of Attorney
When the principal wants to grant the agent the complete authority to act on his/her behalf, a general power of attorney form is used. In Arizona General POA, the agent can manage your finances, business transactions, personal and real property, but not your health decisions. For that, you will have to assign the agent to Healthcare POA.
Special Power of Attorney
When the principal grants the right and authority to the agent on a certain special event that can even be a single or one-time business transaction, then it is termed as the Special Power of Attorney. As soon as the special event occurs, the POA ends.
Parental Power of Attorney
A Parental POA grants the agent the authority over the principal’s children on the principal’s behalf for a temporary period, which should not exceed more than six months. In Arizona, only military personnel are granted one year of parental power of attorney. It starts and ends at a specific date.
The person who chooses to be your agent should agree to take responsibility for your child in a parental power of attorney.
Note the parental power of attorney is different from providing guardianship or custody of the child.
Healthcare Power of Attorney
This power of attorney is used when the principal wants to grant the authority to make health care decisions to the agent on his/her behalf. A healthcare power of attorney should necessarily be a durable healthcare power of attorney if you want your agent to make decisions for you even if you are on life support.
A durable healthcare power of attorney will grant the agent the authority to make healthcare decisions for the principal until the principal dies.
Revocation of Power of Attorney
In Arizona, there is also a form for revocation of power of attorney that can be used to cancel or revoke an already granted POA.
Why Would You Use an Arizona Power of Attorney Form?
Having a power of attorney form AZ is important if you don’t want the state to take the decisions for you. For instance, in the case of a medical emergency, it is not wise if you wait for the AZ medical board to take the health decision for you, or any other important decision for that matter.
That’s when you need an Arizona power of attorney form.
Arizona power of attorney form needs you to select your type of power of attorney, the powers you assign to your agent, complete personal information including date of birth of principal and agent or attorney, beginning and ending dates of POA, signatures, and notarization.
What Are The Power of Attorney Requirements in Arizona?
To use the power of attorney in Arizona, there are three basic requirements as follows:
- The Principal should be 18 years old or older
- The Principal should be the resident of Arizona
- The Principal should have a sound mind and should not be incapacitated
Apart from this, a power of attorney should be dated, signed by the principal, in front of at least one adult witness unrelated to the principal in any form and notarized by the notary public.
Looking for a power of attorney Arizona form free? CocoSign provides a variety of power of attorney forms that fulfill the specific needs of every state. We also provide Arizona power of attorney forms and templates. Download one now.
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