An Arkansas general power of attorney is a non-durable estate planning tool that enables a principal to appoint an attorney-in-fact (or “agent”) to handle certain financial matters on their behalf. The non-durable component of this type of power of attorney means that the agent’s powers are only effective if the principal is able to make decisions for themselves; i.e., it becomes void if they are incapacitated.
The principal can specify the effective date and termination date of the document, allowing for more flexibility. To ensure that the power of attorney becomes ineffective upon the principal’s incapacitation, they must complete the appropriate fields in the “Effective Date” section on page 4 of the document.
Durable Power of Attorney – A power of attorney document executed with the intention of preserving the powers of the appointed attorney-in-fact beyond the principal’s incapacitation.