POA - Financial Power of Attorney

A Financial Power of Attorney (Financial POA), sometimes called a Statutory Power of Attorney, is a legal document that grants someone, called the agent or attorney-in-fact, the authority to manage financial affairs on behalf of another person, called the principal.

The powers granted in the document are set by the principal. They may choose to allow the agent to broadly handle all financial matters, or they may want to limit the powers to specific functions on specific accounts.

A Financial POA is an example of a scoped Power of Attorney. Refer to that entry for general information, including creation, termination, and effect criteria.