Durable power of attorney
Choose who can handle the financial parts of life if you cannot.
A durable power of attorney can give a person you trust authority to act on financial and legal matters when you need help or cannot act for yourself.
What it covers
It is about money and legal decisions—not medical care.
This document names an agent—someone who may be able to handle defined financial and legal matters for you. The authority can be broad or limited, depending on the document.
It is separate from a healthcare directive. One person may serve in both roles, but the documents address different kinds of decisions and should be considered separately. Read why healthcare directives and powers of attorney both matter.
The decision behind the document
The important question is not just who loves you. It is who can handle the job.
An agent may need to communicate with banks, pay bills, keep records, manage property, or coordinate with professionals. Think about reliability, comfort with financial details, availability, and whether the person understands your wishes.
When it can matter
A difficult time is a poor time to discover there is no authority in place.
- 01
Keep routine matters moving
Depending on the document and the circumstances, an agent may be able to handle bills, bank accounts, insurance, property, or other financial responsibilities.
- 02
Let you choose the person
You decide who you want to trust with that authority, instead of leaving your family to seek court authority after a crisis begins.
- 03
Work alongside your other documents
A financial power of attorney can complement a trust and a healthcare directive, each of which covers a different part of life.
Worth considering
Who might need one?
- Adults with bills, accounts, property, or financial responsibilities that someone may need to manage.
- People preparing for a medical event, extended travel, aging, or a period when they may need support.
- Families who want to reduce uncertainty if a loved one becomes unable to handle financial matters.
- Anyone building an estate plan that also includes a trust or healthcare directive.
Questions people ask
The authority should be clear before it is needed.
What does “durable” mean?
It generally means the authority can continue if you become incapacitated. The exact authority and timing depend on how the document is written and applicable law.
Can my agent make healthcare decisions?
Not under a typical financial durable power of attorney. Healthcare choices are usually addressed in a separate healthcare directive or power of attorney for healthcare.
Do I give up control when I sign one?
Not necessarily. You can usually continue managing your own affairs while you have capacity. The document’s terms determine when and how an agent may act.
Your next step
Choose a person before there is an emergency.
We can help you think through the role, the questions to ask, and how this document fits with the rest of your plan.