Durable Power of Attorney for Finances (MI)

A Durable Power of Attorney is a type of power of attorney that allows you to name someone other than yourself to handle financial affairs on your behalf, should you become incapacitated. It is called "durable" because it remains valid even if you become incapacitated.

The person you name to handle your financial affairs is called an "attorney-in-fact'' or ''agent" (depending on your state). This person essentially steps into your shoes and can make all of the same decisions and do all the same things with regard to your property, and financial and/or business affairs that you could, as if you were physically present and doing it yourself.

Durable Power of Attorney documents are very important estate planning tools that will help to prevent financial disaster if you ever become incapacitated and cannot handle your own financial affairs. Your attorneys-in-fact/agents would have the power under this document to access your bank accounts to make payments on your behalf, sell property, and many other things which may all be necessary to pay for your care, support your family, and preserve your estate if you are unable to do so yourself.