An Arkansas statutory durable power of attorney is a document that assigns financial powers of attorney to an agent in an arrangement that does not terminate if the principal is incapacitated. In the power of attorney, the principal defines the authority that is given to the financial agent and relays any specific guidelines that they want the agent to follow. For example, the principal may wish to leave written instructions on how to handle expense payments, investments, real estate management, and financial gifts to family members in the event of their physical or mental incapacity.
Agent’s Duties – § 28-68-114
Signing Requirements (§ 28-68-105) – Notary Public
Statutory Form – § 28-68-301
(2) “Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity.