Create an Arkansas Power of Attorney with our customizable template!
An Arkansas power of attorney is a legal form that acts as the authorization for an individual, known as the agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting this authority. An Arkansas POA is often used for estate planning. Yet, there are other instances where a POA is a useful tool.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authorization is known as the agent or the attorney-in-fact.
An Arkansas power of attorney form is a legal document that must comply with the requirements of Title 28, Subtitle 5, Chapter 68 of the Arkansas Code (Uniform Power of Attorney Act). The statute outlines these basic rules:
As stated, the principal can specifically explain which powers the agent can and cannot use on their behalf. The principal also has the right to revoke (terminate) the power of attorney as long as the principal is competent. This is true even if the power of attorney is durable. Additionally, the POA terminates when:
There are several reasons why someone would want to use an Arkansas power of attorney to provide authorization to give another person the ability to make decisions related to their tangible personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
Every person’s need for a power of attorney can vary. There are many different ones available. Before choosing one, seek legal advice to make sure you get the right one to fulfill your needs. This will also give you the opportunity to ask how to revoke the POA should it become necessary for you to do so. Here are the most commonly used powers of attorney in Arkansas.
General Power of Attorney
A general power of attorney grants a single individual to handle matters on behalf of the principal.
Durable Power of Attorney
A durable power of attorney is used to allow an agent to act on the behalf of the principal in specified situations.
Healthcare Power of Attorney
A healthcare power of attorney grants power to the agent to make important health care decisions on the principal’s behalf.
Limited Power of Attorney
A limited power of attorney grants limited power to whatever the principal specifies.
Parental Power of Attorney
A parental power of attorney allows a parent or guardian to grant decision-making rights over their child to a temporary guardian in the event that the parent or guardian may not be present during a medical emergency.
Real Estate Power of Attorney
A real estate power of attorney grants power to the agent to buy, sell, and manage real estate on the principal’s behalf.
Tax Power of Attorney
A tax power of attorney allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Arkansas Department of Finance and Administration on behalf of the principal.
Vehicle Power of Attorney
A vehicle power of attorney allows the agent to buy, sell, and handle the necessary paperwork with the Arkansas Department of Finance and Administration, Motor Vehicle on the principal’s behalf.
Create a Arkansas Power of Attorney in minutes with our professional document builder.
Get Started Now!