A financial power of attorney is a legal document which comes into play while you are alive and usually will no longer be effective the moment you pass away.
This document appoints a person to help you make financial decisions if you either cannot or do not wish to make them on your own. This usually occurs when someone is injured or ill and is deemed incapable of making decisions (i.e. incapacitated).
How a Financial Power of Attorney Keeps Your Assets Protected If You Get Sick Everyone gets injured and ill during their lives. Everyone will eventually pass away, maybe even from an injury or illness. During these times of injury or illness, people can and do lose the ability to speak for themselves or become incapacitated…