Power of Attorney

POWER OF ATTORNEY (FINANCIAL, MEDICAL AND MENTAL)

You worked your entire life for your estate such as your home, savings and other assets. Make sure your hard-earned estate is taken care of if you are to become incapacitated. A Durable Financial, Medical and/or Mental Power of Attorney prepared by Dynasty Legal Documents will specify the duties given to your Power of Attorney. Without a proper Power of Attorney, your loved ones will be burdened with having to petition the court for a Guardianship and/or Conservatorship. You can avoid this by making sure you have the proper documents put into place.

What is Power of Attorney?

A Durable Power of Attorney is a written instrument by which a principal designates another person as the principal’s agent. The instrument shall contain words that demonstrate the principal’s intent that the authority conferred in the durable power of attorney may be exercised:

1. If the principal is subsequently a person with a disability or incapacitated.

2. Regardless of how much time has elapsed, unless the instrument states a definite termination time.

14-5501 – Durable power of attorney; creation; validity

Definitions

14-5506 – Powers of attorney; intimidation; deception; definitions

“Capacity” means that at the time the power of attorney was executed the principal was capable of understanding in a reasonable manner the nature and effect of the act of executing and granting the power of attorney.

“Intimidation” includes threatening to deprive a vulnerable adult of food, nutrition, shelter or necessary medication or medical treatment.

“Vulnerable adult” has the same meaning prescribed in section 46-451.

Benefits

Financial - Allows someone (Agent) the authority to act in a variety of situations including managing banking or investment accounts, selling or buying real estate, applying for government benefits and handling lawsuits, taxes or business operations.
Mental - Allows the Agent the authority to act as your power of attorney if you become incapacitated due to mental illness.
Medical - Sometimes referred to as a 'Healthcare Directive' or 'Durable Healthcare Power of Attorney' in AZ. This allows the appointed 'Agent' or 'Attorney-in-Fact' to act in matters related to healthcare instead of letting Arizona law dictate treatment and care.

Power of Attorney (Single) $350.00
Power of Attorney (Financial, Medical and Mental) $500.00
Declaration of Living Will $350.00

WHAT IS A GUARDIAN AND CONSERVATOR?

According to the Maricopa County Superior Court:

“Conservator” means a person who is appointed by a court to manage the estate of a protected person. ARS §14-1201.

“Guardian” means a person who (is) qualified as a guardian of a minor or incapacitated person pursuant to testamentary or court appointment but excludes a person who is merely guardian ad litem. ARS §14-1201. A guardian is an adult who has legal authority to make personal decisions for the minor or incapacitated adult, including responsibility for their physical, medical, and educational needs. Nolo.com

“Incapacitated person” means any person who is impaired by reason of mental illness, mental deficiency, mental disorder, physical illness or disability, chronic use of drugs, chronic intoxication or other cause, except minority, to the extent that he lacks sufficient understanding or capacity to make or communicate responsible decisions concerning his person. ARS §14-5101.

“Protected person” means a minor or any other person for whom a conservator has been appointed or any other protective order has been made. ARS §14-5101.

“Ward” means a person for whom a guardian has been appointed. “Minor ward” means a minor for whom a guardian has been appointed solely because of minority. ARS §14-5101.

WHAT IS PROBATE?

According to the Maricopa County Superior Court (Formal and Informal Probate) – Probate, whether formal or informal, is the process of winding up the affairs of the person who has died (the decedent), and includes asking the court to appoint a personal representative (sometimes called an “executor”) of the decedent’s estate, and to determine if there is a valid will.

Probate is necessary to pass ownership of the decedent’s probate assets to the decedent’s beneficiaries, if the decedent did not have a will. Probate is also necessary to complete the decedent’s financial affairs after his or her death, including ensuring that the decedent’s creditors are paid.

Informal Probate

Informal probate is for those estates where there is an original will, and the will is not being contested, nor are any of the heirs listed in the will being disputed.

Formal Probate

Formal probate is when the requirements of informal probate are not satisfied and a Judge or Commissioner is needed to resolve any disputes.

HOW CAN DYNASTY LEGAL DOCUMENTS HELP?

Dynasty Legal Documents understands legal documents with the owner, Melissa Moy, having over 20 years working in Estate Planning Law. At most law offices, the Paralegal drafts all your documents. Melissa worked as a Paralegal in some of the top law firms in Arizona for many years before opening her own legal document office. She has extensive knowledge in order to prepare your Estate Planning documents with the latest rules to make sure you’re in compliance with the latest laws.