Power of Attorney: Plan for Control, Even When Life Is Uncertain
Why You Need a Financial Power of Attorney
If you become seriously ill, injured, or incapacitated, who will manage your financial life? A financial power of attorney gives someone you trust the legal authority to handle decisions on your behalf — from paying bills to managing investments. It’s one of the most important parts of any complete estate plan.
What Is a Power of Attorney?
A Power of Attorney (POA) is a legal document that appoints someone (your “agent” or “attorney-in-fact”) to act on your behalf in financial or legal matters. With a durable POA, this authority continues even if you become incapacitated — allowing your finances to be managed without court intervention.
Manage Investments & Property
They can handle real estate, insurance, and retirement decisions if needed.
There’s no one-size-fits-all when it comes to POAs. We’ll help you choose the right one based on your lifestyle and preferences.
Types of Financial Powers of Attorney
Durable Power of Attorney – stays valid if you become incapacitated
Springing Power of Attorney – only takes effect when certain conditions are met
Limited Power of Attorney – grants specific authority for a limited time or task
General Power of Attorney – gives broad authority over your finances
Without a valid POA, your loved ones may face legal barriers when trying to help you. In emergencies, that delay could cause serious financial harm — and require court involvement to assign a guardian.
What Happens If You Don’t Have a POA?
Risk of court-appointed guardianship
Delays in accessing bank accounts
Missed payments or investment decisions
No clear legal authority for helping loved ones
Additional stress during a crisis
Frequently Asked Questions About Powers of Attorney
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What does a financial power of attorney do?
They manage your financial and legal affairs if you’re unable to do so — from paying bills to handling investments.
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Can I choose more than one person?
Yes, you can name co-agents or a successor agent in case your first choice is unavailable.
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When does a POA take effect?
It can be immediate or “springing” — meaning it only activates when specific conditions are met.
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Does a POA replace a will or trust?
No, it complements them. A POA works during your lifetime. A will or trust handles things after your passing.
A Power of Attorney Is Especially Important If You:
Travel frequently or live part-time out of state
Manage your own business or investments
Are aging or managing health concerns
Want to reduce stress for loved ones in an emergency
Have adult children or a trusted partner to act on your behalf
Want to stay in control of who handles your financial life
