A Financial Power of Attorney is a legal document used to authorize someone to make financial decisions on your behalf. This may be useful in everyday matters as well as at a time of incapacitation.

A durable power of attorney is necessary if you want the agreement to survive your incapacitation.

The Financial Power of Attorney can be Limited or General, the limited version for specified matters. It's often best, even if more general authority is intended, to include in the document specific powers that are being granted in order to minimize confusion.

Even with a Financial Power of Attorney in effect, one may have to work with a bank or other instituation to get the power put in place as a practical matter. Financial organizations, such as one's bank, may have their own forms they prefer one to use.

One can prepare one's own Financial Power of Attorney. The Quicken Lawyer Personal Software product may be helpful but forms are available from a number of other sources as well.