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The Georgia statutory financial power of attorney is a legal document used by the grantor to authorize the attorney-in-fact to make decisions and act in his/her property related matters.
EXPLANATION FOR PRINCIPALS
WHAT IS A FINANCIAL POWER OF ATTORNEY
This document is a “Financial Power of Attorney.” It allows us to name one or more
persons to handle our financial or business affairs for us just as we would if we were
handling them ourselves. Depending on our individual circumstances, we can give
another person or persons all of our authority (power) or some of our authority (powers) to
act on our behalf. This document does not give someone the power to make medical
decisions or health care decisions for us.
WHAT CAN OUR AGENT DO
The 'Agent' is the person we give power to handle our financial affairs.
We are the 'Principal'.
Our decision to use this document is a very important one and we should think about
carefully and consider what financial decisions we want our Agent to make for us. With
this document, we can give our Agent the right to make all financial decisions or only
certain, limited decisions.
For example, we can allow our Agent to handle all of our financial affairs, including
the power to sell, rent, or mortgage our home, pay our bills, cash or deposit checks, buy
and sell our stock, investments, or personal items, or we can allow our Agent to handle
only certain or specific financial affairs such as paying our monthly bills.
DOES THIS MEAN WE GIVE ALL OUR POWERS AWAY
No. We can still handle our own financial affairs as long as we choose to or are able
to; however, unless we limit our agent, he or she also has the legal authority to handle our
affairs while we are handling our affairs.
We need to talk to our Agent often about what we want and what he or she is doing
for us using the document. If our Agent is not following our instructions or doing what we
can and should cancel or revoke the document and end our Agent's power to
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