How a Financial Power of Attorney Protects You

What a financial power of attorney does

A durable financial power of attorney lets you name someone you trust—your “agent”—to manage your money and property if you become unable to do so yourself. “Durable” means it stays in effect even if you later lose capacity, which is exactly when it matters most.

What your agent can handle

• Paying bills, managing bank accounts, and handling everyday finances.
• Dealing with real estate, insurance, and investments.
• Filing taxes and managing government benefits.

You decide how broad or limited these powers are, and the authority ends at your death, when your will or trust takes over.

What happens without one

If you lose capacity without a financial power of attorney, your family may have to ask an Arizona court to appoint a conservator—a public, time-consuming, and often costly process. A simple document signed in advance avoids that ordeal.

Choosing the right agent

Name someone trustworthy, organized, and willing to serve, and consider naming a backup. This is one of the most important decisions in your plan, because your agent will act in your place when you cannot speak for yourself.