Execution of a General Power of Attorney allows you to determine who will pay your bills, handle your financial affairs, and make other important financial and legal decisions for you, such as selling real estate or gifting assets to your children, if you become physically or mentally unable to care for yourself. Without a Financial Power of Attorney, if you become incapacitated, a Guardianship proceeding would be necessary to authorize someone to handle these matters for you. Not only would this be costly, but it would also be a time-consuming and potentially embarrassing public ordeal, and there is no guarantee that the guardian named by the Court would be the same person as you would have selected.