You should almost always give a Durable General Power of Attorney as part of a complete estate plan. A General Financial Power of Attorney (always "durable" when used in connection with estate planning) authorizes your agent, called "Attorney in Fact," to act on your behalf and sign your name to financial and/or legal documents. The Financial Power of Attorney is an essential tool in the event that, due to age, illness, or injury, you are unable to carry on your legal and financial affairs. Having a Financial Power of Attorney will generally avoid the need to go through the time consuming, expensive, and publicly embarrassing process whereby someone has to go to court to have you declared mentally or physically incompetent and then one or more persons need to be appointed to serve as your legal guardian and/or conservator, which process is subject to ongoing court supervision. State laws vary regarding the use and acceptance of a power of attorney.