A financial power of attorney lets the person you name step into your shoes for money matters: banking, bills, property, taxes, insurance, accounts. You choose how wide the grant runs - a narrow one for a single real estate closing, or a broad one that can carry your whole financial life through an incapacity. This page covers what the document does; the signing mechanics live in the durable power of attorney guide.
Make it durable, almost always
A plain financial POA quits working at the moment of incapacity - which is precisely backwards for planning. The durable version keeps working, using Arizona's required language, in substance: "This power of attorney is not affected by subsequent disability or incapacity of the principal or lapse of time." Unless you are signing for one narrow transaction, durable is the version you want.
What your agent can and cannot do
- The agent can do what the document says - no more. Broad grants commonly cover banking, real estate, investments, taxes, and insurance.
- The agent owes you loyalty. Arizona law punishes agents who act through intimidation or deception, with criminal exposure and civil penalties.
- The document ends at your death. Your will, trust, and designations take over from there - see every route around probate.
Banks and the stale-document problem
Financial institutions scrutinize powers of attorney, and an old or oddly drafted one can stall at the teller window exactly when your agent needs it to work. Two habits prevent this: refresh the document every few years, and use Arizona-specific drafting rather than a generic internet form - the statute prescribes the witness-plus-notary execution and the affidavit language banks expect to see.
Sources
- A.R.S. § 14-5501 (durable power of attorney; creation; validity) (full text, checked 2026-08-09)
- A.R.S. § 14-5506 (powers of attorney; intimidation; deception) (checked 2026-08-09)
Educational information only, not legal advice. Have this document prepared or reviewed by a licensed professional.