This form is a durable power of attorney. The form provides that the agent of the principal is only authorized to use the principal's funds for the best interest of the principal. If the agent fails to comply with principal's instructions, the agent then may be liable for criminal charges or civil liability.
State Of Arizona Durable Power Of Attorney With A Will
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How to fill out Arizona Durable Power Of Attorney?
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An Arizona durable power of attorney must be signed with the principal and one (1) witness in the presence of a notary public. The witness cannot be the agent, the agent's spouse, the agent's children, or the notary public (ARS § 14-5501(D)(3)).
Does a Power of Attorney have to be recorded? It does not have to be recorded immediately after you sign it. If your Agent has to handle a real estate transaction for you, the Power of Attorney will need to be recorded at the time of the transaction.
Steps for Making a Financial Power of Attorney in Arizona Create the POA Using Software or an Attorney. ... Sign the POA in the Presence of a Notary Public. ... Store the Original POA in a Safe Place. ... Give a Copy to Your Agent or Attorney-in-Fact. ... File a Copy With the Recorder's Office.
By Arizona law a Durable power of attorney needs to signed in front of one witness and a notary public.
The type of Power of Attorney also impacts its duration: For instance, if a principal is diagnosed with dementia, the durable POA will remain in effect, allowing the agent to make decisions on their behalf. However, as with all POAs, it ceases to be effective upon the principal's death.