Power of Attorney Form for Az

ARIZONA STATUTORY DURABLE POWER OF ATTORNEY

1. DOCUMENT PREAMBLE & RECITALS

This Durable Power of Attorney (the "Agreement") is made and entered into this [Day] day of [Month], [Year] (the "Effective Date"), by and between [Principal Name], an individual residing at [Principal Address] ("Principal"), and [Agent Name], residing at [Agent Address] ("Agent").

Recitals: A. Principal desires to appoint Agent as their attorney-in-fact to manage their financial and legal affairs; B. This Agreement is intended to comply with the requirements of the Arizona Revised Statutes (A.R.S.), Title 14, Chapter 5, Article 5, governing durable powers of attorney; C. Principal is of sound mind and is executing this document voluntarily and without undue influence.

2. OPERATIONAL DEFINITIONS

1. "Agent" refers to the person or entity designated to act on behalf of the Principal as specified in this Agreement.
2. "Durable" means that this power of attorney shall not be affected by the subsequent disability, incapacity, or incompetence of the Principal.
3. "Incapacity" refers to the inability of the Principal to manage their property effectively for reasons such as mental illness, mental deficiency, physical illness, or disability.
4. "Principal Asset" refers to any real, personal, tangible, or intangible property, including financial accounts, intellectual property, and business interests, owned by the Principal.
5. "Third Party" refers to any bank, government agency, business, or individual with whom the Agent interacts pursuant to the authorities granted herein.

3. SUBSTANTIVE TERMS & OBLIGATIONS

1. Grant of Authority: Principal hereby appoints Agent as their true and lawful attorney-in-fact to act in Principal's name, place, and stead regarding all financial matters, including, but not limited to, banking, real estate transactions, tax filing, and asset management.
2. Fiduciary Duty: The Agent shall act solely in the best interest of the Principal, maintaining strict loyalty, honesty, and care, and shall maintain accurate records of all transactions performed.
3. Accounting: Upon written request by the Principal or any court-appointed representative, the Agent shall provide a full accounting of all assets managed and transactions executed within [Number] business days.
4. Compensation: The Agent shall be entitled to reasonable compensation for services rendered, defined as [Dollar Amount] per [Hour/Month/Year], payable from the Principal’s assets.
5. Representations: The Agent represents that they possess the legal capacity to execute these duties and shall perform them in accordance with Arizona law and the standards of a fiduciary.

4. DEFAULT, TERMINATION, AND REMEDIES

1. Breach: Any unauthorized self-dealing, misappropriation of assets, or gross negligence in performance of duties shall constitute a material breach of this Agreement.
2. Cure Period: In the event of a non-monetary breach, the Agent shall have [30] business days to cure said breach following receipt of written notice from the Principal or an authorized representative.
3. Termination: This Agreement shall terminate upon (i) the death of the Principal, (ii) the resignation of the Agent, (iii) the revocation of the power of attorney by the Principal, or (iv) a court order declaring the Agent incompetent.
4. Remedies: Upon breach, the Principal reserves the right to seek injunctive relief, equitable accounting, and compensatory damages in any court of competent jurisdiction within Arizona.

5. BOILERPLATE LEGAL PROVISIONS

1. Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
2. Entire Agreement: This document constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior agreements.
3. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Arizona.
4. Dispute Resolution: Any dispute arising out of this Agreement shall be settled by mandatory binding arbitration in [County Name], Arizona, under the rules of the American Arbitration Association.
5. Force Majeure: Neither party shall be liable for failure to perform duties due to causes beyond their reasonable control, including acts of God, war, or governmental regulation.

6. FORMAL EXECUTION BLOCK

Principal Signature:

[Principal Name] Date: [Date]

Agent Acceptance:

I, [Agent Name], accept the appointment as Attorney-in-Fact and agree to perform the duties described in this instrument.

[Agent Name] Date: [Date]

Notary Acknowledgment:

State of Arizona County of [County Name]

Subscribed and sworn to before me this [Day] day of [Month], [Year] by [Principal Name] and [Agent Name].

Notary Public My Commission Expires: [Date]