A power of attorney is a document that lets you appoint a person or an organization to handle the financial and medical decisions on your behalf when you are not able to because of sickness or death. The person or the organization is called the attorney-in-fact or the agent. POA is given to someone whom you can trust with your life. To provide it with you can download the power of attorney form for Arizona from a website that offers legal forms in the US. However, here are some reasons it may be used:
1-Gives the Ability to Choose Who Can Make the Decisions for You
If anyone has signed a power of attorney and later on becomes incapacitated and is unable to make the decisions, the agent named can step into the shoes of the incapacitated person and can make the crucial financial decision. In the absence of a power of attorney, the legal procedure to establish as the conservator or guardianship will have to be established which can be very expensive.
2- No Need for Guardianship
If anyone doesn’t have a comprehensive power of attorney when they become incapacitated, have a limited choice. They will have to let someone else petition the court to appoint a guardian or the conservatory. Then the court will decide who will be selected to manage the financial health affairs of the incapacitated person. The court will also monitor the situation as long as the incapacitated person is alive. Not just this is a costly process, another detriment in the fact that the incapacitated person will have no input on who will be chosen to serve.
3-Provides an Opportunity to Discuss the Wishes and Desires
There is a lot of thought that goes into the creation of a comprehensive power of attorney. An important decision is who will serve as the agent. When a parent or loved one decides to sign a power of attorney, it offers an excellent opportunity before the parent to discuss the wishes and the expectation with the family and the person who is named as an agent in a power of attorney.
4-Comprehensive Power of Attorney Is Better
When people age, their needs change and a power of attorney should reflect it. The senior citizen has concerns about long-term care. They have to apply for the government benefits to pay for care and also choose the best care providers. In the absence of any permission to the agent to perform these tasks or more, the precious time and money would be wasted.
5-Clears the Intent of the Principal
When the principal becomes incapacitated, there may be a court battle over the intent of the person. In a well-drafted power of attorney, there is a healthcare directive, which can eliminate the need for the family members to make arguments or disagree over the loved one’s wishes.
6-Prevent Delay is Planning
In a comprehensive power of attorney, there are all the powers required to do effective asset protection planning. However, if a power of attorney doesn’t include the specific power, it can reduce the ability of the agent and may lead to significant losses. While the power the attorney may seem long, it is necessary to include all the powers required to carry out the proper planning.
Want to write a power of attorney? You can quickly get Arizona power of attorney form from the online service providers. Fill in the relevant details so that the form is tailored to the specific needs. Delay in creating a POA can prove to be costly so do it as soon as possible.