Durable Power of Attorney is very beneficial to if you fear that health problems may make it impossible for you to handle your financial matters. The main reason to make a Durable Power of Attorney for finances is to avoid court proceedings if you become incapacitated. If you don’t have a Durable Power of Attorney, your relatives or other loved ones will have to file formal court proceedings and ask a judge to name someone to manage your financial affairs. These proceedings are commonly known as conservatorship proceedings.
A Durable Power of Attorney for finances is an inexpensive, reliable legal document. In it, you name someone who will make your financial decisions if you become unable to do so yourself. This legal instrument can be priceless if you are ever in a situation where others need to make decisions on your behalf because you are incapacitated.