Durable Power of Attorney for Finances (OR)

A durable power of attorney for finances allows you to name someone to handle your financial affairs and make financial decisions on your behalf.

The person you name in a durable power of attorney will have control over your property, finances, and/or business affairs. Whoever you name should be someone you trust to act in your best interest while overseeing your assets. Depending on your state, this person may be called an "attorney-in-fact" or "agent."

The document is durable, meaning it's still effective if you become incapacitated. "Incapacity" can happen for any number of reasons, such as following an accident, or the onset of dementia. Because you can't predict when this might happen, it's vital that you have one in place before it's needed.