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A durable power of attorney for finances allows you to designate a person, your "agent," to take care of your finances if you are unable to do so yourself. A general power of attorney for finances authorizes your designated agent to control a broad range of financial matters, including paying your bills, cashing your checks, or receiving benefits.
Alternatively, you can limit the powers of your agent, in a limited power of attorney for finances, to a specific timeframe, or to specific functions.
Executing a general or limited power of attorney for finances can save the expense and difficulty of a conservatorship or guardianship proceeding, or can prevent intervention by blood relatives in one's financial affairs, in ...
Source: HighBeam Research, V. Durable power of attorney for finances.