Many people like the reassurance that comes with a financial power of attorney. Specific situations that call for them include:
Frequent international travel
Diagnosis of a chronic or terminal illness
Continued management of business or real estate interests when you are unavailable
Work in hazardous environments or constant exposure to toxic materials
But it’s not just people facing these situations that should have a financial power of attorney. It’s best for everyone to draft one. If you ever become incapacitated, a power of attorney can ensure that someone is able to take care of your financial transactions for you. We never know what life will bring us, so it’s best to be prepared — especially when this preparation takes less than an hour.