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ATTORNEY IN ARKANSAS
Understand the Differences Between the Different Types of Power of Attorney So You Can Be Sure to Execute the Estate Planning Instrument that Best Fits Your Needs
DEBORAH SEXTON
Power of Attorney in Arkansas ARKANSAS www.arkansas-estateplanning.com ESTATE PLANNING ATTORNEY
A Power of Attorney is an important estate planning tool. There are different types of power of attorney instruments. You can create either a General Power of Attorney or a Limited Power of Attorney. Each one has its own terms and limitations. You can also create a Durable Power of Attorney or Durable Power of Attorney for Healthcare. Each individual and each family
has its own unique estate planning needs which must be considered. So, it is important to be aware of the differences between these instruments. With an understanding of the differences, you
can be sure to execute the estate planning instrument that best fits your needs.
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estate planning tool. The requirements for creating a power of attorney differ from state to state.
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attorney, the powers are revoked and the legal document is no longer effective.
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result. A Durable Power of Attorney can be combined with a Living Will, which is a legal document that spells out a persons wishes in the event they become unable to make medical decisions on their own.
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When you give a Power of Attorney to someone, you do not give up your rights to manage your affairs in general. You retain complete control over everything, even after a Durable Power of Attorney has been signed. The agent will act, or not act, at your discretion. You can always revoke the Power of Attorney at any time, for any reason.
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