What is a Financial Power of Attorney?
Answer: A Financial Power of Attorney is not a part of your will. It is a separate document that authorizes someone you name to act in accordance with your financial intentions. It becomes effective only when you cannot express your wishes yourself. With a Financial Power of Attorney, you choose who will act and define their authority and its limits, if any. You should make sure that all your financial professionals (stockbrokers, accountants, financial planners) and banks have a signed copy.