What is a durable power of attorney?

A durable power of attorney is a legal document that grants someone else the authority to make decisions on behalf of another person. This document is especially important for those living in Arizona, because it allows for decisions to be made even if the person has become physically or mentally incapacitated. This document is durable in the sense that it will remain in effect even if the person decides to change their mind later, or even if they become incapacitated and are unable to make their own decision. The person granted the authority is known as the attorney-in-fact or agent and they will have the power to manage the principal’s financial affairs. This authority can include such activities as the ability to make financial decisions, manage investments, and even pay bills and taxes. The durable power of attorney can be more thorough and detailed than other documents such as a living will or health care power of attorney. This document also allows the principal to limit the agent’s authority, or to give the agent the ability to make decisions about a variety of areas. This power of attorney document is an important estate planning tool for those living in Arizona.

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