Sometimes, the presence of such a legal instrument as a power of attorney form is a lifesaving condition. Thus, the residents of the state of Arkansas who find themselves in the acute need for such a juridical document may resort to one of the existing Arkansas power of attorney forms – it all depends on their circumstances. Yet, in its essence, a proxy allows one person (the grantor or the principal) to allocate another person (the attorney-in-fact) as their legal representative to act on their behalf in particular situations. These include managing material assets, making decisions regarding medical treatment, becoming a temporary guardian for underage kids, etc. However, a power of attorney lets the principal grant the agent with authority to control any other vital aspect of their life due to the grantor’s disability or absence. A proxy also indicates whether the powers of the private attorney is limited or not.
Download your fillable Arkansas Power of Attorney Form in PDF format:
– Adobe PDF
A properly-composed Arkansas POA is created under the requirements specified in the Title 28, Chapter 68 of the Arkansas Code. The local legislation mentions the following statements:
- The person assigned as the attorney-in-fact doesn’t need to have a corresponding degree but should be a trustworthy individual of legal age or older.
- The selected representative will be presented with the right to make tough healthcare calls for you and take control of your financial assets.
- It is allowed to assign your agent some adequate compensation.
- In addition to the agent, you should appoint a successor attorney-in-fact. It will help avoid terminations of the POA if the initially chosen individual cannot or will not act in your name.
- The Arkansas proxy comes into force right upon its completion, unless stated otherwise in the “Special Instructions” section of the document.
Why Use a POA Form in Arkansas
There are a whole host of reasons why a person might need to use a power of attorney, endowing their longtime friend or immediate relative with authority to manage their money. Old age, terminal illness, or physical or mental incapability become primary reasons why the citizens of Arkansas would decide to create a proxy, stating that the principal wishes their matters to be handled in a particular way. That is if misfortune falls upon them. Since no one knows what will happen tomorrow, it is essential to draw up this crucial legal paper in advance, eliminating the possibility of not leaving any directions behind. Any person would want their wishes to be fulfilled strictly according to their written statements, but without a POA, the government will decide everything for them. No matter if you can boast of robust health or have just been diagnosed with a fatal malady – a power of attorney will always come in handy.
Undoubtedly, an individual with a physical/mental illness may need a different proxy form than someone with a terminal illness. Following this analogy, people with dependent kids will need a different power of attorney than unmarried individuals without minors. A power of attorney, along with statements specified in it, varies from person to person. Fortunately, there are multiple types of Arkansas power of attorney forms. These are the most widespread among them:
Durable Power of Attorney
Unlike some other types of the discussed legal instrument, a durable proxy ceases to exist upon the grantor’s demise or their acquired disability. It continues the authorization of the agent to make vital decisions instead of the principal.
General Power of Attorney
This kind of power of attorney allows the designated private attorney to deal with money-related matters on behalf of the author of the general POA. Nonetheless, this agreement ends when the grantor develops a disability or dies.
Health Care Power of Attorney
A healthcare proxy is similar to an advance directive. It is designed to endow the attorney-in-fact with the right to make critical decisions concerning the principal’s health and treatment. It becomes effective when the grantor loses their ability to function properly, both mentally and physically. For example, if an individual has Alzheimer’s or any other severe cerebral illness, they can become mentally incompetent to approve specific health interventions.
Limited Power of Attorney
With the help of this Arkansas power of attorney form, the proxy author indicates the range of authority granted to the designated representative. Most of the time, the private attorney is entitled to manage the POA’s creator’s financial and healthcare affairs while being prohibited from selling or purchasing real estate and businesses in the name of the grantor. A limited proxy becomes void once the principal passes away.
Parental Power of Attorney
Whenever the circumstances force a parent to leave the country for a particular period without their underage children, a parental power of attorney may come to their rescue. This proxy type lets a caregiver allocate a temporary guardian to care for their kids and make decisions regarding their wellbeing and medical treatment if needed.
Real Estate Power of Attorney
According to Arkansas laws, the following form of POA can be both durable and non-durable. In brief, a real estate proxy endows the attorney-in-fact to purchase, sell, or otherwise control property on behalf of the principal.
Vehicle Power of Attorney
By analogy to the previous form or power of attorney, this one grants the agent the right to perform sales and purchase contracts of the grantor’s vehicle(s). Besides, it allows the delegee to transfer all needed documentation to the local Department of Motor Vehicles.
Revocation of Power of Attorney
Any Arkansas power of attorney form can be revoked using this form, which must be signed solely by the proxy’s author in their right mind. Thanks to this POA, it is possible to end the agreement between the parties.
State Tax Power of Attorney
A tax power of attorney in Arkansas, which is often referred to as the “Department of Finance and Administration Power of Attorney,” is a juridical document presenting an Arkansas resident with the chance to assign their representative in tax matters. Thus, a chosen agent will be able to handle your tax information, turn in filings, and take critical tax-related decisions instead of you.