When planning for the future, you must take several things into consideration, including what would happen if you were unable to communicate about medical and financial issues. This is what makes a power of attorney an integral part of preparing for the unexpected. This document will grant someone the legal authority to make important decisions on your behalf should you become incapable of doing so yourself. But before giving anyone this authority, you must understand exactly how it works. Here are a few common questions concerning the topic. 

Power of Attorney FAQ

How is a power of attorney established in Arkansas? 

To establish a power of attorney, you will need to designate an agent you trust to make decisions for you. You may also name an alternate in the event your original agent is unavailable. Then, you must sign the power of attorney, along with two competent witnesses over the age of 18. Upon doing so, it may take effect right away.  

What authority does a power of attorney have? 

The two main types of power of attorney will give your agent the authority to make decisions regarding your finances and healthcare, as well as receive medical information. These powers can be vested in the same agent or you can choose to separate the powers between two agents.  These powers include the ability to confirm whether or not you are in the hospital, access and share your medical records, employ physicians, communicate with doctors, pay your bills, buy or sell property, manage investments, and deal with government programs and financial institutions. 

When does a power of attorney end?  

You have the right to revoke a power of attorney at any time. To do this, you should notify the person you have chosen to be your agent, your lawyer, and any other person relevant to the situation. It is also possible for a power of attorney to end if it is determined you were not of sound mind when you signed the document. The power of attorney can also be limited in time or scope by your direction.

Including a power of attorney in your estate plan will provide you more control over the future. If you need assistance creating a valid power of attorney you can be confident will stand up in court, contact Watson Law Firm of Harrison. They offer Arkansas residents more than 35 years of legal experience, and they remain dedicated to helping each client safeguard their interests. Call (870) 704-4037 to schedule a consultation, or visit their website to submit an inquiry online.