Why you need a power of attorney in Arizona

Many adults in Arizona never get around to estate planning. Even those who do often seek out the fastest solutions possible. Instead of creating a comprehensive estate plan, many testators just draft a will.

If there was only one other document that someone might need to consider including in their estate plan, it is probably a power of attorney. A surprising number of adults in Arizona operate under the assumption that they do not require powers of attorney for their protection even as they prepare for retirement or face major medical challenges. Almost anyone over the age of 18 can likely benefit from the creation of powers of attorney to protect them in an unpredictable world.

What do powers of attorney do?

Someone who drafts powers of attorney puts legal documents in place granting other people the authority to handle certain matters on their behalf. Standard powers of attorney usually address financial or medical matters.

The person drafting the document is the principal, while the party they choose to act on their behalf is their attorney-in-fact or agent. Most powers of attorney only take effect when the principal becomes incapacitated. They lose their authority when someone recovers, dies or becomes permanently incapacitated. Durable powers of attorney retain their authority even when someone experiences permanent incapacitation.

The attorney-in-fact empowered in the documents can potentially access financial resources, pay bills or make medical decisions on behalf of the principal. Typically, powers of attorney include specific instructions on what the agent should do and limitations on their authority.

Even an 18-year-old about to start their first job or enroll in college might benefit from creating powers of attorney. If they end up hurt in a car crash or a work incident, their parents or other people they trust can’t access their resources or make medical decisions without such documents.

Powers of attorney protect those who are too old to have parents act on their behalf and those who do not have spouses to handle their affairs. Even married people often benefit from the creation of powers of attorney, as they can take the pressure off of their spouses in an emergency. They also have protection in the event that their spouse also experiences a medical emergency or dies when they become incapacitated.

Ultimately, taking the time to add powers of attorney to an estate plan can offer virtually any adult better peace of mind and protection if they experience some kind of personal emergency, for more contact us.