What Is a Financial Power of Attorney?

A financial power of attorney allows someone you trust to handle financial matters if you become unable to manage them yourself.

This document appoints an agent to act on your behalf.

Your agent may be able to:

- Pay bills

- Access bank accounts

- Manage property

- File taxes

- Sign legal documents

Without a power of attorney, your family may need to go to court to request a guardianship in order to manage your finances.

Guardianship proceedings are expensive and time-consuming.

A properly drafted power of attorney helps families avoid that process.

Pennsylvania law requires specific notices and language for a power of attorney to be valid, which is why careful drafting is important.