Two Types of Power of Attorney
A durable financial power of attorney authorizes your agent to manage your financial affairs — paying bills, managing accounts, handling real estate transactions, and filing taxes. A healthcare power of attorney authorizes your agent to make medical decisions when you cannot communicate. Both are essential and both are separate documents.
Why ‘Durable’ Matters
An ordinary power of attorney becomes invalid if you become incapacitated. A durable power of attorney remains effective precisely when you need it most — when you have lost the ability to make decisions yourself. Without the durable designation, the document fails at the moment it is supposed to work.
The Alternative to Planning
Without a durable power of attorney in Arizona, a family member seeking legal authority to manage your affairs must petition the court for a conservatorship or guardianship. The process takes months, costs thousands of dollars in legal fees, and requires ongoing court oversight. A single well-drafted power of attorney avoids all of it.
Choosing Your Agent
Your agent should be someone you trust completely with significant authority over your life. Consider their financial judgment, their availability, and their willingness to advocate for your wishes even under pressure. You can also name a successor agent in case your first choice is unavailable.
How Arizona Law Governs Powers of Attorney
Arizona follows the Uniform Power of Attorney Act with some state-specific modifications. Documents must be signed before a notary public and should be drafted by an attorney to ensure they meet current Arizona requirements and are accepted by banks and financial institutions without dispute.
A power of attorney is one of the most important documents you can have in place before you need it. If you are in Arizona, call us at 480-719-7333 or visit kiermanlaw.com to get started.
This content is for informational purposes only and does not constitute legal advice. Please consult an attorney for guidance specific to your situation.