What is a durable financial power of attorney?

A durable financial power of attorney is a legal document that gives someone else the authority to manage your financial affairs in the event that you become incapacitated or unable to do so. In Massachusetts, an individual over 18 years of age can grant power to another person to make decisions on their behalf. The durable power of attorney is designed to give others the authority to manage your money and property as long as you are alive, including things like operating bank accounts, paying bills, filing taxes, and making investments. It also gives you the power to designate which person will be responsible for making financial decisions on your behalf. This document is important because it helps protect you from any potential scams or mismanagement of money while you are not able to do so. This document also ensures that your wishes regarding your finances are carried out even if you become incapacitated or unable to make decisions for yourself. The durable power of attorney is an important part of Estate Planning Law in Massachusetts, and can provide security and peace of mind to individuals and their families. It is important to make sure that the person you select to have power of attorney is someone that you trust and that you feel is capable of making decisions in your best interest.

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What is a durable financial power of attorney?

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