This form is a special 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. The principal also authorizes the agent to receive reimbursement for reasonable amounts, travel costs, lodging, meals, attorney or accountant fees.
Special Power Of Attorney Arizona With Multiple Principals
State:
Arizona
Control #:
AZ-POA-4
Format:
Word;
Rich Text
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How to fill out Special Power Of Attorney Arizona With Multiple Principals?
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FAQ
General Power of Attorney. In this situation, the agent can perform almost any act as the principal, such as opening financial accounts and managing personal finances. A general power of attorney arrangement is terminated when the principal becomes incapacitated, revokes the power of attorney or passes away.
Can more than one person have power of attorney? Yes, more than one agent can serve at a time.
How to Fill Out an Arizona DPOA FormStep 1: Designate an agent. Before you choose your agent, make sure you fully understand what power of attorney is and the risks involved in giving legal power to another person.Step 2: Grant authority.Step 3: Ensure your form is durable.Step 4: Sign and date the form.
Most power of attorney agreements include just one principal and one agent. If a principal decides to elect two agents, however, this is certainly possible--provided that the powers granted to each agent do not overlap.
Key Takeaways. A special power of attorney allows a person (the principal) to authorize another individual (the agent) to make legal decisions on their behalf. The agent can act on behalf of the principal only under specific, clearly defined circumstances.
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When completing this form, please be sure to print the requested information. For the purpose of this form, a principal is defined as a person who empowers.Once the transaction is completed, or should the principal become incapacitated during this time, the non-durable power of attorney ceases. Q. My mother named me as her agent under a power of attorney several years ago. Sadly, she recently passed. Dated: Signed: (Principal). A Principal can give an Agent broad legal authority, or very limited authority. A power of attorney is a legal document that allows an individual to make decisions for another person, known as the principal. A power of attorney therefore authorizes the agent to act as if the agent were the principal.