Financial Power of Attorney

A financial power of attorney is a legal document that assigns control of your finances to the individual named in the document if you should fall ill or are otherwise unable to handle your finances yourself. Assigning a financial power of attorney is not an easy decision; it can be difficult to entrust so much responsibility over your life to another person. However, having a financial power of attorney in place can help to ensure that your rights and best interests are upheld even if you are not capable of voicing your wishes yourself.

Assigning a Financial Power of Attorney

Choosing your power of attorney can be a difficult decision. There are many different considerations to take into account when assigning someone this legal role. Below is a list of guidelines to help you choose the best person to act in your place concerning financial matters:

  • Choose someone close to you, such as a spouse, child, close friend, or other family member that you trust.
  • Avoid choosing someone who would have a conflicting interest in your finances. For instance, a family member or friend who owes you money or vice versa may not be a good choice.
  • Talk with the person you choose before making it official. Be sure that they are comfortable with the responsibility.
  • Discuss your specific interests and desires for how your finances should be handled.

The purpose of creating a financial power of attorney is to ensure that your finances can still be responsibly handled according to your wishes when you are unable to take care of them yourself. If you choose someone who may be unreliable or who does not understand how you handle your finances, having a power of attorney could be ineffective or even detrimental.

Contact Us

At Garg & Associates, P.C., we are committed to helping our clients protect their interests through wills, living wills, trusts, and other legally binding documents. To learn more about establishing your living will or financial power of attorney, contact our Houston living will attorneys by calling 800-242-2151.

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Garg & Associates, PC | 21 Waterway Avenue, Suite 300 | The Woodlands, Texas 77380 Please call 281-362-2865 | Fax: 866-743-4506
Serving The Woodlands, Spring, Houston, Conroe, Kingwood, Tomball, Cypress, Huntsville, Cleveland, Stafford, Montgomery County, Harris County, West Oaks, Memorial, Sugar
Land, River Oaks, Alief, Stafford, Missouri City, and Southwest Houston Texas.