Arkansas Statutory Form Power Of Attorney (Page 6 of 8) in pdf

Arkansas Statutory Form Power Of Attorney Page 6

IMPORTANT INFORMATION FOR PRINCIPAL

This power of attorney authorizes another person (your agent) to make decisions concerning

your property for you (the principal). Your agent will be able to make decisions and act with

respect to your property (including your money) whether or not you are able to act for yourself.

The meaning of authority over subjects listed on this form is explained in the Uniform Power of

Attorney Act, Arkansas Code Title 28, Chapter 68.

This power of attorney does not authorize the agent to make health-care decisions for you.

You should select someone you trust to serve as your agent. Unless you specify otherwise,

generally the agent's authority will continue until you die or revoke the power of attorney or the

agent resigns or is unable to act for you.

Your agent is entitled to reasonable compensation unless you state otherwise in the Special

Instructions.

This form provides for designation of one agent. If you wish to name more than one agent you

may name a co-agent in the Special Instructions. Co-agents are not required to act together

unless you include that requirement in the Special Instructions.

If your agent is unable or unwilling to act for you, your power of attorney will end unless you

have named a successor agent. You may also name a second successor agent.

This power of attorney becomes effective immediately unless you state otherwise in the Special

Instructions.

If you have questions about the power of attorney or the authority you are granting to your

agent, you should seek legal advice before signing this form.

IMPORTANT INFORMATION FOR AGENT

Agent's Duties

When you accept the authority granted under this power of attorney, a special legal relationship

is created between you and the principal. This relationship imposes upon you legal duties that

continue until you resign or the power of attorney is terminated or revoked. You must:

(1) do what you know the principal reasonably expects you to do with the principal's

property or, if you do not know the principal's expectations, act in the principal's best interest;

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Arkansas Statutory Form Power Of Attorney Page 6