Power of Attorney to Manage Your Financials in the Event That You Are Unable To
A Power of Attorney allows a capable adult to appoint a person or persons to handle the adult's financial and legal matters in the event the adult needs assistance or may be unable to do so in the future.
The document also specifies whether these individuals are allowed to act separately or if they are required to act together. Because of the financial authority conveyed, it is critical that the adult fully understands what powers are being granted with this document and has complete trust in the person being appointed. It also allows the adult to compensate the designated attorney for duties performed.
This appointment may be GENERAL for all purposes or SPECIFIC for a limited time on only certain purposes.
This appointment is immediate and may be enduring (beyond your mental incapacity) and may be limited in time if you wish.
All powers of attorney cease on your death and may be cancelled by you at any time.
Powers of attorney do not give authority for healthcare purposes.
Who Should Have a Power of Attorney?
This document has great value for anyone who:
Wants to ensure a trusted person will take care of bill-paying, correspondence and financial management in the event of incapacity or absence;
May need assistance with daily finances, now or in the future;
Wants to avoid the very lengthy and expensive process of a court-appointed “Committee”, should the adult suddenly become incapable;
Wants to avoid having the Public Guardian and Trustee take over the adult's affairs.
*This document does not provide for health care needs (please see representation agreement).