Durable Power of Attorney

A standard power of attorney ends when the principal becomes incapacitated. This creates a problem. The agent loses authority at the exact moment the principal needs help most. A durable power of attorney solves this by staying in effect through incapacity.

• General durable power of attorney: Takes effect right away upon signing and continues through incapacity. Estate planning attorneys recommend this type most often.
• Springing power of attorney: Only activates when a specific event occurs, usually a physician's finding of incapacity. This offers a safeguard. However, the activation process can cause delays. HIPAA rules may also limit access to medical records.

Arizona law (A.R.S. 14-5501) says a power of attorney is valid no matter how old it is. The one exception is if the document itself sets an end date. However, some banks may refuse to honor older papers. So updates every two to three years are a smart practice.