We're Here to Help
Client Focused Lawyers
ESTATE PLANNING SERVICES
A financial power of attorney is used to appoint a person called an agent (not necessarily and often not a lawyer) to make financial decisions when you are unable. This person can ensure your bills stay paid during a trip or illness and handle a wide scope of other activities listed in the document.
The principal is the person creating the power of attorney. The principal can make various kinds of powers of attorney:
A limited power of attorney limits the powers a power of attorney can make on behalf of the principal. This type of power of attorney is useful if the principal is traveling and needs someone to handle financial matters while away.
A general power of attorney allows a wide range of responsibilities compared to a limited power of attorney.
A durable power of attorney allows the attorney-in-fact to act while the principal is incapacitated. Non-durable limited and general power of attorneys do not function when the principal is incapacitated.
The agent acts in a fiduciary manner, meaning he or she is legally responsible for their conduct (or misconduct) and can be punished in both a civil court and criminal court for reckless or negligent behavior. Agents do not have the ability to manage assets in a trust unless they agent is listed as a trustee or successor trustee of a trust.
Agents appointed in this document must be at least 18 years of age and are not requried to live in Arizona. This document requires one witness and a notary to be enforced.
This document does not replace a health care / medical power of attorney. The two documents are often used together.
Leavell and Rivera, PLC is a full-service law firm experienced in numerous areas of law. Our attorneys provide Arizona families and businesses with quality and affordable legal services. Call for a Free 30 Minute Consultation.
Contact Leavell & Rivera, PLC
Request a Free Case Evaluation
Disclaimer: This website does not create an attorney client relationship between you and Leavell & Rivera, PLC, contacting the firm through this website does not create an attorney client relationship. The information within this website is provided as convenience and resource.
Phone: 480-948-7114 | Fax: 480-422-7330 | Address 10429 S. 51st Street, Suite 206
© 2014 Leavell & Rivera, PLC | All Rights Reserved
Phoenix Law Firm Leavell & Rivera, PLC, provides top of line legal represenation for familes facing divorce, child custody, child support, adoption, child custody, or parenting time issues. The firm is highly recommended when chosing a family law attorney in Phoenix, AZ or when handling any estate planning and probate matters .
Phoenix Family Lawyers & Estate Planning Law |