Arkansas General (Financial) Power of Attorney Form
Download the Arkansas General (Financial) Power of Attorney to outline the specific power(s) a person known as the “attorney-in-fact” can handle in your place. Being a non-durable form, the permissions it provides the agent only remain in effect so long you, the “principal” is of a sound mind. The form type is regularly completed by those that are physically absent, temporarily ill, or simply looking to delegate certain matters to someone more experienced in managing finances than themself. Even if you want to give your agent broad and sweeping powers, there remain certain powers that must be specifically granted in the POA. These include allowing the agent to make gifts, change beneficiary designations, and delegating authority under a POA, to name a few. See § 28-68-201 for more information.
It’s important you are aware that the contract’s classification as a general POA means that it will be rendered invalid in the case of their incapacity or death. Should you be looking for a more permanent, estate planning-type form, the durable power of attorney should be used.