What is a Power of Attorney, and should you consider having one?

A power of attorney (POA) is a document performed outside of court. It is to give someone the power to make decisions over the thing that you grant them access to. The power of attorney can be as detailed as you want it to be. Statutory, Durable, and Minor Child are the most common POA.

Statutory POA

A Statutory POA is when a person wants to grant someone the power to make financial decisions for them. This could give someone the ability to withdraw money from an account to pay a bill. It could be as broad as giving someone the power to take care of all of your financial affairs. This POA can be helpful for a single person who may work out of town. It is good for someone getting older and may need more help.

Durable POA

A Durable POA allows someone to make medical decisions over you. The person giving a Durable POA is someone who cares about their future. They want one person to make choices if something were to happen to them. This Durable POA can include a Living Will. A Living Will can encompass end-of-life measures or wishes. A Durable POA can be useful for someone who is single or for someone who is getting older in age.

Minor Child POA

A Minor Child POA grants a person to make decisions for their children. This can include the ability to take the children to the doctor, take care of issues at school, etc. This type of POA can be for a single parent and/or a parent who travels for work.

It is important to note that the person granting the power of attorney understands what they are doing. If the person is not understanding, then they will not be able to grant a power of attorney.

These are some small reasons that people are in need of POA. A normal question that is asked is if one person can have both statutory and durable, and the answer is yes. It is common for a person to want both. If you have additional questions about what a power of attorney all needs, you may look at our website for more information or contact our helpline for additional assistance.

AUTHOR: CHEYENNE PEARCE, STAFF ATTORNEY FOR THE CENTER FOR ARKANSAS LEGAL SERVICES