Arkansas Durable Power of Attorney (Financial)

Last Updated: 6/24/2015

Document Description

Although it’s unsettling to think about, you may find yourself facing circumstances that would require someone to make financial decisions on your behalf should you become unable to do so. These decisions could include everything from filing and paying your taxes to handling your investments. Creating a financial power of attorney now will allow you to prepare for any unforeseen circumstances that might make handling your future fiscal affairs personally difficult or even impossible.

A financial power of attorney, also known as a durable power of attorney, is the name for the document that grants the power to a person of your choosing to make financial decisions for you should you become incapacitated. In Arkansas, the person you appoint to handle your affairs is known as the agent or attorney-in-fact the person granting the authority is known as the principal. The power of attorney is “durable” because the agent’s power to make decisions lasts even if you, the principal, become physically incapacitated. If the power of attorney doesn’t explicitly state that it’s durable, the agent’s power would end if that is the case.

Our Arkansas Financial Durable Power of Attorney allows you to name your agent(s) and to select which powers you would like your agent to have in several financial areas including:

  • Banking
  • Government benefits
  • Investments
  • Retirement plans (except naming the beneficiary)
  • Taxes
  • Insurance (except the power to cash in or change the beneficiary of any life insurance policy)
  • Real estate
  • Personal property
  • Claims and litigation
  • Contract for services
  • Medical payments
  • Trusts
  • Financial gifts

You may also choose whether you would like the form to take effect immediately or upon approval of your physician, who can determine if you are no longer able to manage your financial affairs. The document also stipulates that power of attorney may be revoked if you so choose.

Additionally, you have the option of uploading your signed Arkansas Financial Durable Power of Attorney to your Estate Vault for easy access. You can also upload your executed living trust or will, and any other estate planning document for the convenience of having all of your information in a safe and secure location. You, as well as the loved ones you choose, can access the Estate Vault at any time.

The Arkansas Legal Services Partnership, (link= which includes the Center for Arkansas Legal Services & Legal Aid of Arkansas, offers additional resources regarding legal matters in Arkansas.

Note: Our Financial Durable Power of Attorney does NOT enable the agent to make health care decisions for you. Please review our Arkansas Medical Power of Attorney for more information about appointing someone to make those decisions.

  • AR Assist:
    Laws that govern the power of attorney in the state of Arkansas are found under the Arkansas statutes § 28-68-201.

    1. Must be Signed and Dated by the Principal
    2. Must be Signed and Dated by the Agent
    3. Must be signed and dated by a Notary or Two Non-Blood Related Witnesses
    IMPORTANT: All persons signing the Form must be at least 18 years old and of sound mind (i.e., All parties must have the knowledge to know what he or she is signing) as well as all persons signing the Form must be doing so out of their own free will, and not because of outside pressures.

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