A Power of Attorney for finances is a legal document that allows another person, an agent, to make financial decisions on your behalf if you are unable. An agent can also help you execute a financial transaction if you will not be available – such as authorizing an agent to sign real estate paperwork.
Like Medical Power of Attorney, Financial Power of Attorney has the same parameters and requirements an agent needs to meet.
A few common powers granted to an agent under Financial Power of Attorney include:
- If you are married and want to allow your spouse to handle financial responsibilities on your behalf;
- You have a Living Trust and want the successor trustee to be able to manage financial decisions on your behalf if you become incapacitated; and
A Financial Power of Attorney can be a versatile and powerful document. You can ensure that your financial matters are handled expeditiously and in accordance with your wishes. We are happy to provide you assistance in creating the best document to suit your needs.