What is a power of attorney?

A power of attorney (POA) is a legal document that gives a person (called the “principal”) the authority to appoint someone else (called the “agent” or “attorney-in-fact”) to act on their behalf. This document can be used in Arkansas for any type of legal transaction. For example, a principal might choose to give their attorney-in-fact the authority to make financial decisions on their behalf. This could include signing contracts, writing checks, selling or purchasing property, and making investments. A POA may also give an attorney-in-fact the authority to make medical decisions on their behalf, such as consenting to or refusing treatment. This document is especially important for making decisions regarding guardianship law in Arkansas. The authority granted under a POA document does not have to be unlimited. The principal can grant specified powers and limit when and how the agent can act. For example, a POA may grant authority to the agent to make decisions only when the principal is not able to do so. A POA document must meet certain legal requirements to be valid in Arkansas, including being signed by the principal, witnessed by two people, and notarized. Once it is executed, a POA document is immediately in effect. If the principal dies or becomes incapacitated, the POA document is terminated.

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What is a power of attorney?

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