Power of Attorney (POA) is a legal act allowing one person to act on behalf of another in specified legal or financial matters. Financial power of attorney legally authorizes someone to act on an individual’s behalf in monetary matters, including bank account management, bill payment, budgeting, insurance management, receipt of income, tax issues and more. Guardian’s Financial Power of Attorney is a voluntary service designed to help each client maintain his or her dignity and independence by allowing our caring specialists to act on their behalf in specified financial matters.
What You Need to Know
Our Financial Power of Attorney program offers a way to safeguard finances against depletion and exploitation. Our specialists act on each client’s behalf to ensure his or her financial matters are handled in the most efficient manner, working with the client to help maintain control of his or her financial well-being. Our Financial Power of Attorney:
- Is a voluntary program controlled by each client and can be entered into or exited at any time.
- Authorizes Guardian to handle financial matters on a client’s behalf.
- Can be tailored to fit the needs and wants of each client, and made as limited or expansive as a client wishes.
- Can include authorization allowing Guardian to perform a variety of tasks related to financial matters, including accepting client income, paying bills, debt resolution, government benefits application and more.
- Allows the client to maintain independence and control over his or her finances, even as Guardian acts on the client’s behalf.
- Bridges the gap between our Money Management Program’s counseling efforts and the appointed services of Representative Payee and Conservatorship.
- Assess the financial needs of the client.
- Work with each client to establish a targeted approach to addressing their financial needs.
- Handle financial matters on behalf of a client as long as POA remains in effect.
- Conduct business other than what is authorized in the POA.
- Handle financial matters once the client revokes or ends the POA.