Limited Power of Attorney for Finances

A power of attorney is a simple, one-page form that gives someone you trust authority to act on your behalf. To complete it, all you need to do is fill in information about you and the person you’re naming as your “attorney-in-fact” or agent. You’ll also spell out the authority you’re granting that person. For example, you could use this limited power of attorney to give authority to:

A power of attorney is a commonly used document, and third parties (the person buying your car, for example) will probably accept it readily. Just in case they’re worried about relying on it, the document contains language (called an indemnification clause) that lets them know they can legally rely on the document.

• sell your car and sign over the title to the new owner
• manage specific investments while you’re out of the country
• sign loan papers for you while you’re in the hospital
• or any other specific financial task

Do not use this form if:

• You need a durable power of attorney. If you want to give someone authority to manage your finances if you become incapacitated, you need a “durable” power of attorney for finances. You can make that document with Quicken WillMaker Plus
• Your transaction involves real estate. Instead, use Powers of Attorney for Real Estate
• You live in New York or Louisiana. In New York, use the New York Limited Power of Attorney. Nolo does not offer a power of attorney for Louisiana