Hello there. My name is Keith Knochel.
If you are reading this, you might be sitting at your kitchen table looking at a pile of unpaid bills belonging to your mom or dad. Or maybe you are just thinking ahead about your own future.
My partner Aline and I have been lawyers since 1982. That is more than 40 years. We have offices right here in Bullhead City, Kingman, and Lake Havasu. We have seen thousands of families in Mohave County go through the aging process.
Getting older is a part of life. But managing money when you get older can become very hard. Sometimes, people forget to pay the electric bill. Sometimes, they get sick and end up in the hospital, and nobody can get to their checkbook to pay the mortgage.
This is where a legal tool called a Financial Power of Attorney (POA) comes in. It is one of the most important papers you will ever sign.
I want to explain this to you simply. No big lawyer words. Just honest talk, like neighbors. I want you to feel safe and ready to make good choices.
Key Takeaways
- A Safety Net: A Financial Power of Attorney lets someone you trust pay your bills if you get sick or can’t do it yourself.
- “Durable” is Key: In Arizona, you want a “Durable” POA so it keeps working even if you lose your memory or get very ill.
- Avoids Court: If you don’t have this paper, your family might have to go to court to get control of your money. That costs a lot of time and money.
- You Pick the Boss: You get to choose exactly who helps you. It isn’t a stranger; it is someone you trust.
- We Are Local: Our lawyers in Bullhead City, Kingman, and Lake Havasu can help you write this so it works in our local banks and offices.
How Does a Power of Attorney Work for Finances in Bullhead City?
Think of a Financial Power of Attorney like a spare key to your house.
If you are home and feeling good, you use your own key. You open the door, you pay your bills, you buy your groceries. You are in charge.
But what if you go to the hospital? What if you are traveling? What if you just don’t feel like dealing with the bank anymore?
A Power of Attorney gives a “spare key” to someone you trust. We call this person your Agent. Your Agent can use that key to:
- Pay your water bill in Bullhead City.
- Deposit your Social Security check.
- File your taxes.
- Manage your investments.
Important Fact: Just because you give someone a spare key doesn’t mean you can’t use your own key. You are still the boss. You can still spend your money. You are just sharing the power to help make things easier.
A Stat You Should Know: According to a study by Merrill Lynch, nearly 92% of caregivers help their parents with finances in some way. But very few have the legal paperwork to do it correctly. This leads to problems at the bank.
What Is the Difference Between “Durable” and Regular Power of Attorney?
In Arizona Elder Law, there is one word that matters more than any other: Durable.
A “regular” Power of Attorney stops working if you become “incapacitated.” Incapacitated means you are unable to make decisions for yourself. This could be because of a coma, a stroke, or a disease like Alzheimer’s or Dementia.
Imagine this: You sign a regular paper giving your son power to pay your bills. Then, you have a stroke. At the exact moment you need him the most, that regular paper stops working. The bank will say, “Sorry, your dad is incapacitated, this paper is no good.”
The Durable Solution: A Durable Financial Power of Attorney keeps working even if you get sick. It is “durable” enough to survive the bad times. For seniors in Mohave County, our lawyers almost always recommend a Durable POA. It is the best safety net you can have.
Why Is Financial Elder Abuse a Risk and How Does a POA Help?
We have to talk about something sad. Financial abuse of seniors is a big problem.
A Scary Stat: The National Council on Aging reports that up to 5 million older Americans are abused every year, and the annual loss by victims of financial abuse is estimated to be at least $36.5 billion. Even scarier? A study by the Department of Justice suggests that only 1 in 44 cases of financial abuse is ever reported to the authorities.
When you don’t have a plan, you are vulnerable. Scammers call on the phone. Sometimes, sadly, even family members who shouldn’t have access try to take money.
How a POA Protects You: When you create a POA with our lawyers, we create a “fiduciary duty.” This is a legal promise. The person you choose (your Agent) is legally required to act in your best interest. They cannot take your money for themselves. If they do, they can be in big trouble with the law.
By picking a trustworthy Agent now, while you are healthy, you stop strangers or “bad actors” from stepping in later when you might be confused.
Can I Use a Form I Found Online for My Arizona Power of Attorney?
I know it is tempting. You search for “legal forms near me” or “free forms online.” You print one out.
Please, be very careful.
Arizona has specific laws (Title 14 of the Arizona Revised Statutes) about what needs to be in this document.
- It needs to be witnessed correctly.
- It needs to be notarized correctly.
- It needs specific language about “gifting” or “beneficiaries.”
If you use a generic form from the internet, it might work in New York but fail in Arizona. Imagine your Agent goes to the bank in Kingman to pay for your nursing home care, and the bank manager says, “This form is missing a paragraph required by Arizona law.” Your Agent is stuck. Your bills don’t get paid.
Our lawyers draft these documents every day. We know what the local banks in Bullhead City and Lake Havasu look for. We make sure your i’s are dotted and your t’s are crossed.
What Happens If I Don’t Have a Power of Attorney?
This is the question that keeps people up at night. “Keith, what if my mom gets dementia and she never signed a POA?”
If a person can no longer understand what they are signing, it is too late to create a Power of Attorney. You cannot sign a legal contract if you don’t understand it.
If this happens, the family has to go to the Superior Court in Mohave County. They have to ask a judge to appoint a Conservator.
Conservatorship is Hard:
- It is public (your business is in the court record).
- It is expensive (court fees, lawyer fees).
- It takes a long time (months of hearings).
- The judge decides who manages the money, not you.
We practice Elder Law because we want to help you avoid this. We want you to stay in control. A POA is private, fast, and much cheaper than a Conservatorship.
How Do I Choose the Right Person to Be My Agent?
Choosing your Agent is the most important decision you will make. You want the best person for the job. But who is that?
It is not always your oldest child. It is not always the child who lives closest to you.
Questions to Ask Yourself:
- Are they organized? Do they pay their own bills on time?
- Are they trustworthy? Have they ever borrowed money and not paid it back?
- Can they handle stress? If you are in the hospital, can they make clear-headed decisions about money?
- Do they get along with the family? If you pick your daughter, will your son be angry?
You can also pick two people to work together, but that can sometimes cause arguments. You can also pick a backup person, just in case your first choice can’t do it.
Our lawyers can sit with you and help you talk through these choices. We have seen what works and what causes fights.
What Powers Can I Give to My Agent?
You can give your Agent a lot of power, or just a little. This is why “one-size-fits-all” forms are bad.
Here are some things we can include in your Arizona Financial POA:
- Real Estate: We practice Real Estate Law, so we know how important this is. If you need to sell your house to pay for assisted living, your Agent needs specific permission to sign the deed.
- Taxes: Dealing with the IRS requires special language.
- Business: If you own a company (we also handle Business and Commercial Law), who will sign the payroll checks if you are sick?
- Gifting: Can your Agent give birthday money to your grandkids from your account? If you don’t say “Yes” in the document, the answer is “No.”
We customize the document to fit your life.
How Can Knochel Law Firm Help Me Plan for the Future?
At Knochel Law Firm, we are not just paper pushers. We are your neighbors. Aline and I built this firm to serve the people of the river cities.
When you come to see our lawyers, we look at the big picture.
- We look at your Will to make sure it matches your POA.
- We look at your Family Law situation (are you remarried? Do you have step-kids?).
- We look at your potential need for long-term care.
We have offices in Bullhead City, Kingman, and Lake Havasu. You don’t have to drive to Phoenix or Las Vegas to get high-quality legal help.
We want you to have peace of mind. We want you to know that if an emergency happens, your family is ready.
Click here to learn more about our Elder Law services
Why Is It Important to Update My Power of Attorney?
Did you write a Power of Attorney in 1995? If so, it might be time for a new one.
Banks are suspicious of very old documents. They might think, “Maybe this was revoked?” or “Maybe the person changed their mind?”
Also, laws change. The Arizona laws regarding POAs were updated a few years ago. If your document is old, it might be missing important protections.
Life Changes Too:
- Did your spouse pass away?
- Did your Agent move away?
- Did you get divorced?
If you have gone through a major life change, you need to come in and let our lawyers review your documents.
FAQ: Common Questions Asked to Lawyers in Bullhead City and Arizona
Here are 5 common questions we hear from local families about Power of Attorney.
1. Does a Power of Attorney work after someone dies?
Answer: No. This is a very common mistake. A Power of Attorney dies when you die. The moment a person passes away, the POA is invalid. After death, the Personal Representative (named in the Will) takes over. This is why you need both a POA and a Will. We handle Wills, Estates, and Probate, so we can explain how the baton is passed from one to the other.
2. My mom lives in Bullhead City, but I live in California. Can I still be her Agent?
Answer: Yes, absolutely. You do not have to live in Arizona to be the Agent. However, being far away can make practical things (like finding a checkbook in the house) harder. In today’s world, with online banking, it is much easier to manage finances from a distance than it used to be.
3. Can I use a Nevada Power of Attorney in Arizona?
Answer: Maybe, but it is risky. Since we are right on the border, we see this a lot. Arizona law generally respects valid documents from other states, but a bank teller in Kingman might not be familiar with a Las Vegas form. They might reject it, causing a delay. If your mom lives in Arizona now, it is best to have Arizona documents.
4. Can a Power of Attorney change my Will?
Answer: Generally, no. Your Agent can spend your money for your care, but they generally cannot rewrite your Will to give themselves more money. This is a protection against fraud. However, they can change beneficiary designations on some accounts if the POA specifically allows it. This is why you must trust your Agent completely.
5. How do I stop a Power of Attorney if I change my mind?
Answer: You can “revoke” (cancel) a POA at any time, as long as you are of sound mind. You need to sign a formal “Revocation of Power of Attorney” and, most importantly, you must deliver a copy of that revocation to your former Agent and to any bank or business that had the old one. If the bank doesn’t know you canceled it, they might still let the Agent access your money.
External Resources for You
- Arizona Attorney General – Life Care Planning – Information on advance directives.
- National Council on Aging – Resources on elder rights and benefits.
- Mohave County Superior Court – Local court information for guardianships.
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Reading this does not create an attorney-client relationship. Every family situation is unique. For specific advice regarding your estate planning and elder law needs, please contact Knochel Law Firm directly.
Knochel Law Firm Bullhead City | Kingman | Lake Havasu Since 1982 https://lawyersinarizona.com/
