Financial Power of Attorney: Your Money, Your Rules

When Jane's mother had a stroke, everything changed overnight.

Suddenly, Jane wasn’t just managing hospital visits and medical decisions—she also found herself trying to pay her mom’s bills, manage her mortgage, and handle her investments. But there was one major problem: she didn’t have the legal authority to access anything.

The bank said no. 

The utility company wouldn’t talk to her. 

Her mother’s financial accounts were frozen in limbo—not because of fraud, but because no one had legal permission to step in.

That’s when Jane learned the hard way: without a Financial Power of Attorney in place, you can’t just help someone you love. Even if they need you.

What is a Financial Power of Attorney?

A Financial Power of Attorney—officially called a Statutory Durable Power of Attorney (SDPOA) in Texas—is a legal document that allows you to name someone to manage your finances if you’re ever unable to do so yourself.

That person (called your agent) can help with tasks like:

• Paying bills and managing bank accounts 💳

• Handling real estate or investment decisions 🏡📈

• Managing retirement accounts or taxes 📂

• Running your business if you’re incapacitated 🏢

This is not just for the elderly or the wealthy. It’s for any adult who wants to stay in control of their life, even if something unexpected happens.

Why It Matters: Your Money, Your Rules

Without a Financial Power of Attorney, your loved ones may be forced to go to court for guardianship just to access your accounts. That process can be costly, public, and time-consuming—and it may not result in the person you would have chosen.

A properly executed Financial POA means:

• You choose who steps in—not the courts

• You control what they can do and when

• You avoid unnecessary delays, conflict, or confusion

It’s a document about trust, clarity, and most importantly—freedom to choose.

What to Watch For

Creating a Financial POA is more than filling out a form. In Texas, this document must be properly signed, notarized, and often witnessed to be valid. And once created, it should be shared with your chosen agent and stored in an accessible place.

Pro tip: Make sure your agent is comfortable with the responsibility and understands your wishes.

We Can Help

The Financial Power of Attorney is part of a set of documents we call the Essential Documents—the must-haves that every adult 18 and older should have in place to protect their voice, their choices, and their peace of mind.

Start by booking your Peace of Mind Planning Session today and take the first step toward protecting what matters most. We’ll meet in person or on Zoom, answer your questions, and walk you through our simple, flat-fee process.

Mention this blog and we’ll waive the $450 session fee!

Click here to Schedule Your Peace of Mind Planning Session!