A durable power of attorney is a legal document that a person (the principal, grantor, or donor) signs to appoint another person as the grantor’s agent or attorney-in-fact—with authority to make financial and property-related decisions on behalf of the principal—including transactions involving business interests, investments, insurance, taxes, bills, real estate, stocks, bonds, commodities, personal property, Social Security, Medicare, Medicaid, and other financial matters.

A traditional power of attorney is effective only while the principal has full mental capacity, but a durable power of attorney remains effective if the principal becomes physically or mentally disabled or incapacitated (incompetent) from a stroke, Alzheimer’s disease, an automobile accident, or other cause. In some states the legislature has provided a form durable power of attorney in a statute (law) and the document may be referred to as a statutory durable power of attorney.

In Arkansas, a durable power of attorney (DPOA) is a legal instrument that allows a person (the principal) to designate another individual (the agent or attorney-in-fact) to manage their financial affairs, even if the principal becomes incapacitated. The authority granted can include handling business matters, investments, insurance, taxes, and real estate transactions, among others. Arkansas law recognizes the durability of such documents, meaning that the power of attorney continues to be effective if the principal loses mental capacity due to conditions like Alzheimer's disease or injury. The state provides statutory guidelines for creating a DPOA, ensuring that the document meets legal requirements to be considered valid. It's important for the principal to clearly specify in the document the extent of powers granted to the agent, and the conditions under which the DPOA becomes effective. Arkansas may have specific forms or requirements for the execution of a DPOA, and it is advisable for individuals to consult with an attorney to ensure that their power of attorney is properly drafted and executed in accordance with state law.