determining that you have lost your ability to make decisions. When this happens, the powers you granted your agent through the springing power of attorney will automatically give that agent the right to begin representing your interests and protecting your affairs.
Agent Service and Termination So what would happen if, for example, you become incapacitated, your agent begins managing your affairs, and then you regain your abilities? Would your agent still be able to represent you, or would you represent yourself? Though the answer to this question depends on the type of power of attorney you create, and what your wishes are, there are several possibilities. First, as a principal, you have the ability to create whatever kind of power of attorney you like. If you wish to place limitations on your agent’s abilities, you can do this. One of these limitations might be, for example, to give your agent the ability to represent you only in the event you are incapacitated. If you so choose, you can create a power of attorney that states your agent’s authority automatically terminates should you regain your ability to represent yourself. Second, even if you don’t create a power of attorney that automatically terminates and agent’s authority, you retain the ability to fire your agent at any time as long as you are capable. For example, if you create a power of attorney that appoints an agent that has the ability to represent you from the moment you create the document, that agent can only serve as long as you allow him or her to. If you should one day decide that you don’t want your agent to represent you any longer, or you want to hire a new agent, you can fire the current agent whenever you wish.
Copyright 2013. Powers of Attorney in Arizona: Part 2 of 2
Deason Garner Law Firm
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