What is a financial power of attorney?

A financial power of attorney is a written document that gives another person power to make financial decisions for you and to manage your finances. This person is referred to as your “attorney in fact”.

The scope of power you give this person can be as broad or as narrow as you wish. A power of attorney can give someone the power to cash checks, make investments for you, or change the beneficiary on your insurance policies. It can give the person the power to sell your home. Alternatively, it can do only one or some of these things. In the financial power of attorney, you decide what power you want to give your attorney in fact.

Contact an O.W.D estate planning & elder law attorney to create your financial power of attorney