A financial power of attorney (POA) grants an agent the authority to make property- and money-related decisions on your behalf. Those rights may be narrowly defined—such as paying bills—or wide-ranging.
With a POA, you can designate another person (your agent) to act on your behalf. The agent can sign legal documents when you are unavailable, when you prefer the convenience of having someone else sign, or when you become incapacitated.
A POA does not take away your rights to make your own financial decisions. However, it does give your agent the power to act with respect to your property (including your money) whether or not you are able to act for yourself. Therefore, you should appoint an agent who is knowledgeable about finances and can be trusted to act honestly and carry out your expectations.
Unless you specify otherwise, generally your agent's authority will continue until you die or revoke the POA, or the agent resigns or is unable to act for you. Your agent is entitled to reasonable compensation unless you state otherwise.
"Durable" means that the POA remains effective even if you become incapacitated.
If you live in Montana and you need a durable POA, contact a licensed Montana lawyer at Matrium Law Group at (406) 552-7814.