 | Arkansas Durable Financial Power of Attorney Form |
The Arkansas durable power of attorney form is a form that authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself, unless otherwise stated in the special instructions contained in this form. (See § 28-68-301). One should be aware that this form, although it is broad in it’s language, will not allow your agent to make any decisions with regard to anything medical and/or your health care. This document addresses financial aspects only.
How To Write
Step 1 – Download the form and begin by reading the “Notice” on page one
Step 2 – Appointment – This section will allow you to appoint an agent to handle any or all of the listed powers on the form.
- Enter your name (the principal) in the first line on the page
- In the second line, enter the name of your chosen attorney in fact aka your agent who will be acting on your behalf with regard to your finances.
Step 3 – Read the information under the paragraph where you have appointed your attorney in fact. You will then initial any of the following powers you wish to have your agent handle for you. If you would like to select all of the powers, you may go to the bottom of the list and initial only the line in front of this statement. This will allow your agent to handle all of your financial powers. Otherwise, select the powers you wish to designate and initial the line proceeding each item, selectively, in the following list:
- (A) Real property transactions
- (B) Tangible personal property transactions
- (C) Stock and bond transactions
- (D) Commodity and option transactions
- (E) Banking and other financial institution transactions
- (F) Business operating transactions
- (G) Insurance and annuity transactions
- (H) Estate, trust, and other beneficiary transactions
- (I) Claims and litigation
- (J) Personal and family maintenance
- (K) Benefits from social security, medicare, medicaid, or other governmental programs, or military service
- (L) Retirement plan transactions
- (M) Tax matters
- (N) ALL OF THE POWERS LISTED ABOVE. YOU NEED NOT INITIAL ANY OTHER LINES IF YOU INITIAL LINE (N)
Step 4 – If you have any special instructions ie: a successor attorney in fact/agent in the event your original selected agent becomes unable or unwilling to handle your finances, or if you do not wish for the document to be immediately in force, but would prefer to wait until you are no longer able to handle your financial affairs or any other instructions:
- Place these special instructions or anything else you would like to state, on the lines provided. If you need more room you may add a sheet and attach it to this form.
Step 5 – Carefully read the information following the special instructions. If you do not wish for the document to take effect immediately, strike through the following statement:
- “This power of attorney will continue to be effective even though I become disabled, incapacitated, or incompetent.”
- You may choose to re-word this statement in “Special Instructions” as becoming effective when you become disabled, incapacitated or incompetent.
Step 6 – Read the information regarding revocation of the document. You must acquire a notary public to witness the signing of this form. Once you’ve reviewed your form to ensure that the information is correct and you agree with the revocation statement, you must:
- Enter the date of the signing of the document in dd/mm/yyyy format
- The principal must provide their signature on the signature line
- The principal must print their name on the next line
- The principal must provide their Social Security Number on the final line
The remainder of the form must be completed by the notary witnessing your signature and apply the notary seal to complete the form.
