The Arkansas general financial power of attorney is a legal document that allows an individual, referred to as the “principal,” to appoint someone else, known as the “agent,” to handle their financial affairs. This form grants broad powers to the agent, including the ability to manage bank accounts, buy or sell property, file taxes, and conduct other financial transactions on behalf of the principal.
The powers granted through this form remain effective unless the principal specifies a termination date or until the principal becomes incapacitated, revokes the power of attorney, or passes away. Unlike a durable form, a general power of attorney does not remain in effect if the principal loses the ability to make decisions (i.e., becomes incapacitated).
The principal must choose a trustworthy agent since they will have significant control over the principal’s financial matters in Arkansas. By the way, consider using our Arkansas power of attorney forms if you want to create a document that will take effect when you become incapacitated.
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In Arkansas, the laws governing general powers of attorney are encapsulated within the Uniform Power of Attorney Act (Arkansas Code, Sections 28-68-101 to § 28-68-406). This act defines a “power of attorney” as any writing or record that authorizes an agent to act on behalf of the principal. Requirements for executing a general power of attorney in Arkansas include:
A general power of attorney is a powerful tool for estate planning and managing financial affairs in Arkansas. Adhering to these formalities is essential to guarantee the legality of this document.
| Document Name | Arkansas General Power of Attorney Form |
| Other Name | Arkansas Financial Power of Attorney |
| Relevant Laws | Arkansas Code, Sections 28-68-101 to 28-68-406 |
| Avg. Time to Fill Out | 10 minutes |
| # of Fillable Fields | 41 |
| Available Formats | Adobe PDF |
This guide provides a step-by-step approach to accurately completing the Arkansas general power of attorney form, ensuring that your intentions are clearly expressed and legally robust.
1. Choose and Specify Your Agent
Identify a trusted individual who will act as your attorney-in-fact. This person will have significant responsibilities and should be someone you trust implicitly. Complete the agent’s section by writing the full name, current residence address, and other contact information of the person you are appointing as your agent.
2. Decide on the Powers to Confer
Review the list of powers such as real property transactions, banking activities, and tax matters. Then, mark next to each power you want to grant. If you prefer to grant all listed powers, initial only next to the option allowing all powers to be conferred.
3. Add Detailed Instructions
Use the special instructions section to specify any additional powers or detailed guidance you want your agent to follow. This field might include limitations or extensions of the granted powers not explicitly covered in the standard list.
4. Decide When the POA Will Activate
Choose whether a power of attorney becomes effective immediately or on a specified future date. Initial next to your choice to confirm.
5. Determine the POA’s Duration
Specify when the power of attorney will terminate. This could be upon your written revocation, on a specified date, or when you are determined to be incapacitated per the terms defined in the form.
6. Appoint an Alternate Agent
If your initial agent cannot serve, you may appoint a successor. Fill in the details of the alternate agent just as you did for the primary agent.
7. Execute the Form
After reviewing all sections and ensuring the accuracy of the information and your decisions, sign the document in the presence of a notary public. This step legally enforces the power of attorney. The notary will verify your identity and the authenticity of your signature, completing the process by affixing their seal.
