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Financial Power of Attorney

The Document

A Financial Power of Attorney is a written document in which you give another person authority to handle your financial affairs if you become incapacitated (i.e., you are mentally and/or physically unable to handle your affairs yourself). Without it, your loved ones may have to go to probate court for permission to act on your behalf, pay your bills, and otherwise handle your finances.

Benefits

This document helps avoid delays, legal fees, and public court proceedings. It can be useful even for short-term events like hospital stays—and critical for long-term disability.

Without a Power of Attorney, your loved ones must go to court to have someone appointed to manage your finances if you become incapacitated—a public process that exposes private matters. Disputes over who should serve can become contentious and costly, involving significant legal and court fees.

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