Durable Power of Attorney (POA) form is a written document that is filled by a principal or grantor to designate or appoint a person as his or her agent. It is a contract or agreement that establishes a relationship of commitment between the principal and his agent. With this document, a person is appointed to perform any particular tasks for the grantor – such as taking financial decisions, legal decisions etc. Here are some important things to know about durable power of attorney forms and instructions. Please visit this site to get a sample power of attorney form in Arkansas.
Gets effective in case of disabilities
A Durable POA gives power to an authorized agent to act on behalf of the principal when the principal gets incapacitated or disabled. The document comes into effect when the principal is found to have become mentally incapacitated or disabled and needs someone to take business / financial decisions on his behalf.
Has to be acknowledged by an authority
This type of form should be signed by the grantor, and then acknowledged by an officer who is designated to handle such things. Oaths must be taken under a particular agency or department. The attorney or agent should be a person who is relied on by the principal. Grantors are always recommended to have an agent appointed by him or her, as well as successors designated to fill up the role of the agent in case he develops cold feet or is disinclined or dies when it is time to fulfill the role and carry out the duties as specified by the Durable POA document.
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