Hot Springs Lawyers Draft Valid Power of Attorney Documents
Arkansas attorneys help families protect themselves in case of incapacity
You never know when an injury or illness could leave you incapacitated. Powers of attorney authorize a trusted party to serve as your agent, making financial and healthcare decisions for you if you are unable to make them yourself. Our Hot Springs power of attorney lawyers at Schnipper, Britton & Stobaugh prepare enforceable POA documents as part of comprehensive estate plans. We serve clients throughout the Central Arkansas region.
Different types of powers of attorney available in Arkansas
Under Arkansas law, you have the following options when drafting a power of attorney:
- Durable — Unlike some other legal documents, durable powers of attorney remain effective even in the event of the principal’s incapacity.
- General — A general power of attorney confers broad decision-making authority on an agent. These grants of authority often used to address financial or business matters. However, unless the principal chooses to make the power of attorney durable, it loses legal force at they point they become incapacitated.
- Limited or special — In these legal instruments, power is granted to the agent for specific transactions only.
A Hot Springs estate planning attorney from our firm will help you establish a power of attorney that best fits your situation and family needs.
Financial powers of attorney and asset management
A financial power of attorney can authorize designated agent to oversee a wide range of asset-related matters for your benefit. You might appoint someone you trust to pay your bills, manage bank accounts, handle investment decisions and oversee real estate transactions. Depending on your circumstances, you could give an agent control over one complex matter or a much broader mandate. We can help you protect assets and safeguard your family with an enforceable financial power of attorney.
Healthcare powers of attorney and medical decision authority
If you are unable to communicate your healthcare wishes, your medical power of attorney allows someone you trust to make decisions for you. Decisions your agent could make can involve treatment options for illnesses or injuries, surgeries, medications, long-term care and end-of-life procedures. You can rely on our experienced firm to prepare a medical POA that meets all legal requirements so that your wishes are correctly carried out.
Choosing the right agent to act on your behalf
Your agents for healthcare and finances will be tasked with making critical decisions on your behalf when you are unable to do so. Common choices for power of attorney agents are spouses, adult children, trusted friends and experienced professionals. Whoever you choose, the individual you select must be reliable, capable of complex decision-making and have your best interests at heart. They must be at least 18 years old and it is beneficial that they live in the same geographic area. Alternate agents can be appointed who can step in should the primary agent be unavailable.
When a power of attorney takes effect and how it can end
A power of attorney generally becomes effective immediately upon its execution. You can advise your agent that they should act for you only if you become incapacitated and unable to make your own decisions. Or you can put in place a springing power of attorney that takes effect only upon incapacitation or another event that you designate. Generally speaking, non-durable powers of attorney in Arkansas become invalid upon the principal’s incapacitation or a specific date as described in the document, while durable powers of attorney end upon death of the principal or revocation by the principal or court.
Contact a Hot Springs powers of attorney lawyer for assistance
The knowledgeable lawyers at Schnipper, Britton & Stobaugh in Hot Springs assist Arkansans with all aspects of estate planning, including preparing financial and medical powers of attorney. Call our firm at 501-762-0887 or contact us online to set up a consultation.