An Arizona Statutory Power of Attorney Form gives another individual the right to make specific business-related and financial choices that concern the principal. This is applied to situations when the principal is healthy but also applies if the principal becomes incapacitated and cannot communicate anymore. Only after the principal passes away can the form be terminated.
Typically, the principal will select either an immediate member of family or a close friend to become their agent. Of course, the principal is within right to terminate the Arizona Statutory Power of Attorney at any time when they will like doing so.
In Arizona, in order for the Statutory Power of Attorney Form to be considered legitimate and for it to become legally effective, it is crucial that the signing requirements for the state are taken into account. This must include a notary public and one witness that has no relation to the agent.
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