Arkansas Limited Power of Attorney Form
An Arkansas limited power of attorney (POA) is a legal document that gives a person the temporary right to carry out tasks for another. The person assigning power is called the “principal”, whereas the person completing the duties is called the “agent.” The principal must appoint someone who is trustworthy and reliable, such as a family member or close friend. The agent’s power can be removed at any time as long as the principal completes and signs an Arkansas revocation form.
Signing requirements (§ 28-68-105): The document must be notarized.
How Long Does a Limited Power of Attorney Last?
A limited POA does not last long compared to other types. This is because it is used for one-time tasks, like managing property, signing forms, or handling tasks. It also ends once it expires or the agent completes the duties.
This document differs from an Arkansas general POA, which allows the agent to handle all financial matters for the principal. It also lasts for a much longer duration compared to this type.
Since this type of document is only good for a short time, medical and durable POAs are more commonly used for long-term needs. They also last even if the principal becomes incapacitated, whereas limited POAs expire immediately if this happens.
When completing the form, the principal is able to set a start date that is not the same as the signing date. For example, they may sign the form on May 22, 2020, but not have it go into effect until June 4, 2020. In this case, they must write “June 4, 2020” after the words “effective on.”
According to Arkansas law, the agent is liable if they act beyond the limits that the principal has set. They must pay for all damages they caused, as well as fees for an attorney if one is needed (§ 28-68-117).