A durable power of attorney for finances is a simple, inexpensive, and reliable way to arrange for someone to make your financial decisions should you become unable to do so yourself. It’s also a wonderful thing to do for your family members. If you do become incapacitated, the durable power of attorney will likely appear as a minor miracle to those close to you.
A power of attorney (POA) is a written document that gives another person the authority to act on your behalf. The person signing the document, or "Principal", appoints another person as an agent. The agent is also called an "attorney-in-fact", which is different than an attorney at law. A power of attorney may be oral and whether witnessed or not, will hold up in court, same as if it were in writing. For some purposes, the law requires a power of attorney to be in writing.
