Creating A Durable Financial Power of Attorney

A Durable Financial Power of Attorney is a document that lets you appoint someone (known as your “agent”) to manage your finances for you if you ever become unable to do so for yourself. The name is made up of three parts: First, the authority you grant to your agent is called the “power of attorney.” Second, a “financial” power of attorney is one that grants authority over financial matters; it is different from a “healthcare” power of attorney, for example, which grants authority to make medical decisions. Finally, a “durable” power of attorney is one that remains in effect even after its creator becomes physically or mentally incapacitated.

Why is it important to have a Durable Financial Power of Attorney? 

Making a durable financial power of attorney helps you to look after yourself and provide for your loved ones in the event you become incapable of doing so yourself.  For example, if you are debilitated in an accident, or become mentally incapacitated due to aging, you may be unable to pay your bills or manage your family's affairs.  If you have a durable financial power of attorney in place, the agent you appoint would be able to take these important actions for you.  Without one, however, your loved ones would have to ask a court to step in and appoint someone to take control of your affairs for you - and that person might not be someone you would have chosen yourself.

If you'd like to make a DFPA through FreeWill or learn more about a DFPA, please follow this link.

How to add a DFPA to my FreeWill account

When using FreeWill, you have the option to choose from a number of products for your estate and life planning needs including a Financial Power of Attorney. 

To create a new DFPA:

1. Login to your FreeWill account
2. Click on your name in the upper right-hand corner of the page
3. Select 'My Documents' from the drop-down
4. Scroll to the 'Your Estate Plan' section of the page
5. Select 'Start' next to 'Durable Financial Power of Attorney'

How to edit your existing DFPA

You are always able to come back later to complete your document or return to update it if you need to make edits. If you already have a verified account and password with FreeWill, you can log in with your credentials and make your edits.

1. Login to your FreeWill account
2. Click on your name in the upper right-hand corner of the page
3. Select 'My Documents' from the drop-down
4. Scroll to the 'Your Estate Plan' section of the page
5. Select 'View/Edit' next to 'Durable Financial Power of Attorney'

How to print your DFPA

Once you have completed your Durable Financial Power of Attorney, you have the option to download and print the document right from your computer.

To print your DFPA:

1. Login to your FreeWill account
2. Click on your name in the upper right-hand corner of the page
3. Select 'My Documents' from the drop-down
4. Scroll to the 'Your Estate Plan' section of the page
5. Select 'View/Edit' next to 'Durable Financial Power of Attorney'
6. Select 'Finish'
7. Select 'Download' and follow the included instructions to sign and finalize it