A power of attorney is a legal document that allows a chosen individual—known as an agent—to act on your behalf when you are unable to make decisions for yourself. The lawyers at Watson Law Firm of Harrison  are happy to help clients establish a power of attorney and choose a responsible representative. However, before making a decision, it is imperative you understand the breadth of an agent’s power under Arizona law. 

What Capabilities Does A Power Of Attorney Grant An Agent?

An agent’s powers can be limited or broad, depending on the document’s specifications. However, most individuals allow their agent to do almost anything they would do themselves. A standard power of attorney yields the following authorities:

• Medical Decisions: If you are ever in a situation where you can’t make medical decisions for yourself, a power of attorney can grant your health care agent the ability to make them for you. This may include consent to giving, withholding, or stopping medical treatments, services, or diagnostic procedures.  
• Gifts Of Money: If you grant them the power to do so, your agent may make monetary gifts on your behalf. However, most people choose to include a provision that limits the amount to the annual gift tax exclusion (currently, $14,000 per individual per year).
• Financial Decisions: While a health care power of attorney grants an individual the authority to make medical decisions on your behalf, a financial power of attorney allows them to handle your fiscal affairs. This includes the act of withdrawing money and signing real estate deeds.
• Guardian Recommendations: If necessary, your agent may appoint a guardian to care for you when you’re unable to care for yourself. 

The family law attorneys at Watson Law Firm have helped residents of Harrison, AR, through an array of complex legal matters bringing over 35 years of knowledge to the table. A power of attorney is a far-reaching legal document that should only be created with the assistance of a seasoned lawyer. To speak with a Harrison attorney regarding your estate planning documents, call (870) 704-4037, or visit the website to learn more about their team.