At some point, someone else may need to step in and manage your finances. That’s not pessimism. That’s just reality. Health changes. Accidents happen. Capacity fades. And when it does, a financial power of attorney can make all the difference between a smooth transition and total chaos.
Here’s how it works.
A financial power of attorney is a legal document. It allows you—the principal—to choose someone you trust to handle financial matters on your behalf. This person is called your agent, or attorney-in-fact. Their job is to act for you, not like you, but for you. That means staying within the boundaries you set, following your instructions, and always acting in your best interest.
You can make this as broad or as narrow as you want. Maybe they only pay bills. Maybe they handle everything, from bank accounts to investments. You can name one person, or two. You can give them equal authority or have one act only if the other can’t. You stay in control for as long as you’re competent—and you can change or cancel the document at any time.
Some of the most common powers under a financial POA include:
• Managing checking and savings accounts
• Paying regular bills or unexpected expenses
• Overseeing investments
• Handling taxes, insurance, or even legal fees
In Georgia, a power of attorney is typically considered “durable” unless you say otherwise. That means it stays valid even if you lose mental capacity. Without that durability language, the authority ends the moment you need it most.
Choosing the right agent is a serious decision. It doesn’t have to be a family member. It could be a friend, a professional, someone who knows how to make tough decisions under pressure. Some people choose financial institutions for this reason. Whatever you decide, that person should be trustworthy, organized, and clear-headed—because the responsibility isn’t small.
A financial power of attorney doesn’t just protect your money. It protects your family from court delays, confusion, and the stress of not knowing what to do when the unexpected hits.
At Fletcher Estate Planning, we help Georgia residents put clear, enforceable powers of attorney in place—so that when the time comes, the right person is ready. Call us at (404) 409-5665 to talk about what makes the most sense for you.
