Granting someone power of attorney over your finances is incredibly important, especially if you become incapacitated. If that happens, you are completely unable to make decisions for yourself without your loved ones trying to get guardianship over you. And guardianship can be expensive and demeaning, costing upwards of $5,000 and removing your ability to vote, drive, and get married. At the very least, you should have a durable general power of attorney under our POA Plan.
A Durable General Power of Attorney allows someone else to make financial, personal, and other decisions on your behalf (except for healthcare) during your lifetime. The powers included in this power of attorney include the ability to manage bank accounts, real estate, and credit cards, as well as signing documents and hiring financial advisors and attorneys on your behalf.