Different types of Powers of Attorney in Arizona?
If you are considering an estate plan in Arizona, you should understand the different types of power of attorneys in Arizona. Power of Attorney refers to a legal document that gives another person (typically an attorney), the authority to act on behalf of another individual. The document enables an attorney’s full or partial authority over the principal’s property, medical care or finances. He or she may decide these matters for their client. There are a few different types of Power of Attorney that are mentioned as under:
General Power of Attorney
This type refers to a thorough authority of an individual to regulate or make decisions regarding another individual’s property, funds, business transactions etc. Decisions regarding health care treatment do not fall under the authorities of General Power of Attorney. If someone wants someone to have the right to make their health care treatment decisions for them, they will have to grant them Healthcare Power of Attorney as well.
Health Care Power of Attorney
A person who holds the right to make decisions in case of a person’s major disability or incompetency, particular to life support, is referred to as a Durable Health Care Power of Attorney. It should be ensured that you mention “durable” or “durability” on your power of attorney paperwork in case you want your agent to regulate your health care only while you are on life support. It is recommended because otherwise there will always be a possibility of the paperwork getting invalid.
Your documents concerning Durable Health Care Power of Attorney can be handed over to a family member, a close friend, your doctor or you can take its copy to a hospital where you might get admitted. This is done in order to ensure the availability of these documents in case they are needed. Any queries regarding the documents must also be answered to avoid misconceptions later on.
Special Power of Attorney
A Special Power of Attorney can be used when you are about to sell your assets or a former business transaction. It means that you allowed an adult to make decisions on your behalf when required, but for a limited purpose.
Parental Power of Attorney
Parental Power of Attorney refers to a provisional authority over someone’s children in certain events only and it should be made clear that willingness of the person, you want to hand over the responsibility to, is obviously the foremost thing. Parental Power of Attorney does not give another the custody or guardianship of someone’s children. There is a specific time limit for the given authority that begins on a certain date and will have to end on a date not earlier than six months.
Revocation of Power of Attorney
In case you have your Power of Attorney paperwork from a few years ago, and now you have different wishes than a few years ago, you will have to draft a revocation of power of attorney that means you are withdrawing or revoking all kinds of power of attorneys that you have at present. It is always wise to revise your power of attorney and make it official if you have changed wishes.
Call our Scottsdale Arizona estate planning attorneys at (480)947-4339 for a free consultation regarding your Arizona estate plan.