Durable Power of Attorney for Finances
Definition - What does Durable Power of Attorney for Finances mean?
Durable power of attorney for finances is a power of attorney that gives rights to someone else to handle your financial matters and transactions on your behalf. Some of these financial powers are simple and only involve a single step like closing a deal. Durable power of attorney for finances usually involves more complex transactions.
Justipedia explains Durable Power of Attorney for Finances
You can make someone you trust a durable power of attorney for finances and give that person as much authority as you feel like. Such a person is called your attorney-in-fact or agent. Also, your attorney-in-fact doesn’t really have to be an attorney.
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