A financial power of attorney is designed to appoint someone to handle your finances when you are unable to act yourself. This is done through legal, estate planning documents and can protect you during a vulnerable time. If you become incapacitated, the person you gave financial power of attorney to will act on your behalf to manage your properties and financial details.
When the responsibility of financial power of attorney is left within the family, it can potentially create a conflict or burden on the named party. You can ease this burden by assigning those duties to a professional fiduciary who is capable, responsible, and trustworthy. Appointing someone who will tend to your finances in good faith, without personal interests interfering can make all the difference in how your estate is managed.