There is no need to submit the power of attorney to the Court. Each person who is named their representative must keep the original of their power of attorney form in a convenient place so that you can easily locate it when needed. As mentioned before, you can't just sign the document and call it a day. In Arizona, you must also have your POA notarized and Attested.
Powers of attorney may contain a termination date or continue no matter how much time has elapsed. All powers of attorney are revocable, which means they can be canceled. Usually, a power of attorney that was valid when executed in another state is recognized and is valid in Arizona. Many lawyers will include durable POAs as part of a more comprehensive estate plan, along with a will or escrow trust.
It is possible to create a condition that must be met before the POA takes effect, such as a doctor declaring that he is incapacitated, but there are many reasons why this type of emergent power of attorney is not usually recommended. You can make the powers of a durable financial power of attorney as broad or as limited as you prefer. If you granted your agent the power to transact with real estate, you must also submit a copy of your POA to the land registry office (called the Registrar's Office in Arizona) in the county or counties where you own real estate. When accepting an appointment as an agent under a power of attorney, you should proceed with caution and understand all duties and responsibilities in order to avoid potential prosecution.
Simple, clear instructions that show you how to fill out the durable power of attorney or special power of attorney. The law specifies that an agent cannot give away or transfer to himself any part of the principal's money, personal property or real estate, unless the power of attorney contains a specific authority to do so. So, if the time comes due to aging, an illness, or an accident where you can't tell doctors what type of treatment you want or how to manage your finances, the durable power of attorney will be able to easily take care of these matters for you. It's helpful to discuss your wishes and concerns with an attorney to ensure that they are correctly reflected in the document before you sign it. A power of attorney executed in another U.S.
jurisdiction is valid in Arizona if the power of attorney was validly executed in the jurisdiction in which it was created. Unlike other types of instruments, such as wills and trusts, in a judicial proceeding to determine the validity of a durable power of attorney, the principal is not presumed to have had the capacity to execute the power of attorney. A power of attorney expires on the specified date (if any), if revoked or when the principal dies. You can also give copies of your durable financial POA to banks or other institutions that your agent may have to deal with in the future.
If the power of attorney is valid, all acts performed by the agent during any time when the director was disabled or incapacitated have the same effect as if the director had performed them and were not incapacitated or disabled. This is a measure to protect the client due to the increase in the abuse of power that agents exercised over the principal.
