Springing Power of Attorney in Phoenix

Estate planning involves more than writing your last will and testament or devising a trust. Your estate plan should also designate someone to act as your agent if you become unable to act on your own.

A power of attorney (POA) gives another person the legal authority to act on your behalf if you are incapacitated and cannot make decisions for yourself. There are many types of POAs, and Dayes Law Firm could help you select one, such as a springing power of attorney in Phoenix or elsewhere in the state.

What Is a Springing Power of Attorney?

A POA is a document that gives the named person the legal right to act as the signer’s (principal’s) agent in specified circumstances. For instance, a special POA may be used if the principal needs a deed signed for a real estate closing. A special POA gives the principal’s agent the ability to sign on their behalf if they cannot be there in person.

Most POAs take effect immediately. In Phoenix, a springing POA only becomes active when a verifying event occurs; and most often, the principal’s illness or incapacity triggers it. The springing POA takes effect when the triggering event occurs or when the POA’s terms verify it.

Why Should a Springing Power of Attorney Be Used?

In Phoenix, people who want to keep control over their finances and other affairs while they remain capable use springing power of attorney. Since a POA grants the agent any power specified in the document, some individuals may be hesitant to hand over control unless it is necessary.

A physician usually confirms the verifying event, often in writing. This gives the principal greater control but can prevent the agent from taking over until verification occurs.

Considerations and Concerns for a Springing Power of Attorney

It is critical to consult an estate planning attorney who understands state law when creating a springing POA. The language describing the springing event must be unambiguous. Family members or other interested parties can challenge vague language, which may delay the execution of your will or other estate planning documents.

You should review and update the springing condition routinely, and doing so at least every five years is recommended. If there are any changes in your physical or financial condition, consider updating your POA at that time.

You should confirm your agent’s participation and have a reliable alternative agent. If the primary agent is unable or unwilling to act when the POA becomes active, the court will appoint an agent if there is no alternative.

Get Legal Advice in Phoenix for a Springing Power of Attorney

A POA is an essential part of preparing your will, trust, and other estate plans. A springing power of attorney could protect your interests and ensure your final wishes are followed.

Dayes Law Firm could craft a springing power of attorney in Phoenix that remains valid under state law, regardless of where the agent must go to manage your property. Our lawyers could give you their best legal advice on how to manage your estate planning and draft a springing POA that suits your needs. Call us today to schedule your free consultation.