Arizona Durable (Financial) Power of Attorney Form

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An Arizona durable (financial) power of attorney is a document that allows a person (known as the “principal”) to forward his or her decision-making powers to someone else (a person known as the “agent”) for financial matters only. The form is especially useful in the event the principal is no longer able to make decisions for themselves due to mental instability. In this case, the agent would be able to have ultimate control over the principal’s monetary matters and would be able to make any decision necessary as long as it is in the best interest if the principal.

These powers include; buying and selling property, handling bank accounts, business decisions, and any related matter to the principal’s financial accounts.

Table of Contents

Versions (2)


Standard Version

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Maricopa County Version

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Laws

§ 14-5501 to § 14-5507 (Powers of Attorney)

Required Language

Every durable power of attorney must contain the following language to illustrate the principal’s intent (ARS 5501(B)(1)):

This power of attorney is not affected by subsequent disability or incapacity of the principal or lapse of time.

or

This power of attorney is effective on the disability or incapacity of the principal.

Revocation

The death of the principal or the authorization of a revocation form by the principal cancels and terminates a power of attorney document (ARS § 14-5504(A)).

Signing Requirements

An Arizona durable power of attorney must be signed with the principal and one (1) witness in the presence of a notary public. The witness cannot be the agent, the agent’s spouse, the agent’s children, or the notary public (ARS § 14-5501(D)(3)).

Statutory Form

There is no statutory form but the language regarding durable power of attorney is located here ARS § 14-5501.

How to Write

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Section 1. Type Of Power Of Attorney

(1) Durability. Establish the type of power of attorney being issued. A general power of attorney that is not durable will have a natural termination date while a general durable power of attorney will continue being effective until the Principal’s death unless he or she intentionally revokes it.

Section 2. Identify the Principal And Attorney-in-Fact

(2) Principal. The Arizona Principal is the person determined to grant the same authority he or she holds over certain matters in his or her life to an Agent (commonly referred to as an Attorney-in-Fact).  In addition to naming the Principal, his or her address information will also need to be documented. Ideally, this will be the address that appears on the Principal’s government I.D. and financial documents.

(3) Principal’s Address.

(4) Principal’s Date Of Birth.

(5) Attorney-in-Fact. The Attorney-in-Fact is the individual who can use this document to prove he or she has the Principal’s approval to act as a Representative regarding certain subjects. Generally, the Attorney-in-Fact will be aware of the Principal’s goals, have the ability to carry out the Principal’s directives, as well as have earned a certain amount of the Principal’s trust.

(6) Attorney-in-Fact’s Address.

(7) Attorney-in-Fact’s Date Of Birth.

Section 3. Powers That Apply 

(8) A. Personal Finances. The Principal can deliver the authority to handle his or her financial accounts, decide and act in the Principal’s names regarding such accounts, control his or her safe deposit boxes, manage his or her debts and owed sums, and even take the legal action necessary to safeguard and carry out the Principal’s directives and goals. Box A  should be marked to grant these powers and other abilities to the Attorney-in-Fact or it may be left unattended to indicate the Principal will not authorize the Attorney-in-Fact to represent him or her in this manner.

(9) B. Real Property. This document can be used to grant the Attorney-in-Fact the authority to represent the Principal in his or her real property affairs. This allows the designated Attorney-in-Fact to manage, buy, sell, lease, exchange, and control access to real property as well as handle the financial requirements needed to perform such duties (i.e., using the Principal’s funds to pay rent or mortgage owed on the Principal’s retail store space or real property at the Principal’s request). The Principal must indicate that he or she wishes to grant this power using Box B because if it is left blank then it will be assumed the Attorney-in-Fact does not carry such approval.

(10) C. Personal Property. The authority to conduct sales, transfers, endorsements, collect debts, as well as a host of other actions needed to represent the Principal’s interest in his or her personal property can be included within the scope of the Attorney-in-Fact’s powers only when box C is selected onscreen or manually checked off. Leave this blank to exclude this from the scope of principal powers.

(11) D. Business Transactions. Every business transaction the Principal is capable of making can be determined and executed by the Attorney-in-Fact with the approval of the Principal through the language set in Box D.

(12) E. To Do And Perform Every And All Acts Required. The Principal will also need to indicate if the Attorney-in-Fact may act in other areas of his or her life that have not necessarily been covered by this document under the assumption that such behavior is the result of the Principal’s instructions and/or approval. Box E allows this option.

Section 4. The Effective Date

(13) General Regular Power Of Attorney. Every general non-durable power of attorney issued in the State of Arizona must include a defined effective or start date and predetermined expiration date if it is to be considered a well-developed delegation of power.  A power document such as this may only be a general regular power of attorney if its start date and termination date are declared in its content.

(14) General Durable Power Of Attorney. If the authority given through this document is not meant to expire on any specific date and the Principal wishes it to continue indefinitely unless otherwise indicated by revocation then it may be considered durable. This means only an effective date should (and must) be defined.

Section 6. Signatures

(15) Principal Declaration. It is imperative the Arizona Principal be named as the declarant behind the signature statement closing this document.

(16) Principal Date Of Signature. The day when the signature is provided by the Principal will mark precisely when he or she has granted the Attorney-in-Fact with authority must be declared by the Principal in writing.

(17) Principal Signature. The act of signing will demonstrate the Principal’s intent to grant his or her authority in the State of Arizona to the aforementioned Attorney-in-Fact and should only be provided at the will of the Principal.

For The Witness

(18) Witness Declaration. A person who can attest to the testimony provided as being true and who has physically observed the Principal sign this document must be named in the final declaration made by this document.

(19) Witness Signature. The signature of the Witness who has observed the Principal’s signing is considered mandatory to verify the authenticity of this document’s execution.

Section 7. Notarization

(20) Notary Public. Additional action required for this signing is the process of notarization. This may only be performed by the Notary Public who was in the room when the Principal and Witness provided their signatures. Only the Arizona Notary Public can complete the notarization process for this document’s signing.

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