When a health emergency puts someone’s finances in your hands

A durable power of attorney is a legal document that gives another person the authority to make decisions for you or "act as your agent." The durable POA allows the person you chose to do important tasks, like paying bills, filing taxes, or signing contracts, on your behalf, which is especially helpful if you're incapacitated. You'll need to work with a lawyer to get a POA in place.

Discuss this with your lawyer before making your final decision. In general, your POA should be someone that you really trust. You should also consider their own health and memory - will they be capable of stepping in when you need them down the road?

It depends. A joint owner (like a spouse) on the checking account can pay most bills without issue. And many credit cards accept phone payments with just the account numbers. Before writing any physical checks or initiating transfers, though, you do need POA or other authority (like guardianship) before stepping in to help with this.

Many people resort to this method as the easiest plan in an emergency, but it can cause problems later. There's a right way to gain access to the accounts, and it's not as complicated as you might think. Afloat walks you through all of it. 

This is typical. They can't share info with you until they've verified the POA or a court order for guardianship. Ask for details on exactly what they need to process POA. In the meantime, most critical bills can be paid over the phone using just the account and routing numbers.

Not yet. First, verify that any insurance has already processed. This can take a long time. Next, ask for an itemized bill so you can review it for accuracy. If the patient is struggling financially, be sure to ask about financial assistance programs. Use the Hardship Program call guide to help.

Yes! Our guides and the Afloat emergency financial navigator are totally free. We make money from voluntary contributions (like tips) and from Afloat Plan (coming soon!), which helps families plan ahead for financial transitions and charges a subscription fee.

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Yes! Thanks for asking. We want to offer this info to as many people as possible. This one-page flyer covers all the basics of emergency financial caregiving. Have a request for a new resource? Tell us about it at support@afloatfinance.org.

Afloat is designed to help caregivers navigate the challenge of figuring out a loved one's finances when they can't communicate. If that's not true of your situation, it's not right for you. If your loved one is currently managing their finances on their own, but wants to prepare to transition those tasks to you in the future, Afloat Plan (coming soon!) is a better fit.