Ohio Durable Power of Attorney (Financial)

Last Updated: 6/15/2015

Document Description

Many people believe their spouse, children or other family members will be allowed to help them with their financial affairs if they become unable to do manage them themselves. Sadly, in many cases, it just isn’t true.

In order for someone else to act on your behalf, you must complete a financial power of attorney. This important legal document allows someone else to step in if something should happen to you. This designated person, called an agent, can make different financial decisions for you, including paying your bills, accessing your bank accounts, completing your taxes and even applying for government benefits on your behalf.

You may allow your agent to make financial decisions for you starting immediately and despite any future incapacitation, which would make it durable, or only if you have been declared unable to manage your affairs by yourself due to medical reasons. In this situation, your doctor would need to make the declaration in writing for your financial power of attorney to take effect.

No one can force you to sign a financial power of attorney if you don’t want to. If you don’t have one and you become unable to care for your affairs independently, the government will need to authorize someone to act on your behalf.

The Ohio Financial Power of Attorney allows you to make your own decisions about your future financial situation by allowing you to choose your own agent, who should be someone you trust fully. You also get to decide how limited or broad the agent’s powers will be. Our form is written specifically for residents of Ohio and fully complies with Ohio state laws.

Please see our Glossary of Estate Planning Terms for more information on all of the relevant health and estate planning definitions and their related documents.

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