ESTATE PLANNING ATTORNEY · AKRON, OH
Durable Financial Power of Attorney in Akron, OH
Spatz Law Group prepares durable financial powers of attorney for families in Akron and across Northeast Ohio, so someone you trust can pay the bills and protect your savings if you can't.
A court taking control of your money
If you can't manage your finances and haven't named anyone, your family may have to ask the probate court for a guardianship. That means a hearing, court supervision, regular reports and costs, and the court may appoint someone you wouldn't have picked. A durable financial power of attorney lets you choose that person now, while you can, so your bills get paid and your savings are protected without a court case.
Choosing someone you trust with your finances
The right person is honest, organized and steady, and it doesn't have to be your oldest child. You can name a backup, and you can decide how much authority they have. Ohio law requires some powers, like making gifts or changing beneficiary designations, to be spelled out specifically. Your document is written so your agent has the authority you intend, and no more.
Your spouse doesn't automatically have authority
Many married couples assume a spouse can step in. Often they can't. A spouse generally can't sell a house or car titled only in your name, or manage your individual retirement account, without legal authority. Each spouse having their own power of attorney closes that gap, so one of you can keep things running if the other can't.
Protecting an aging parent from being taken advantage of
A power of attorney gives real authority, so it matters who holds it. Ohio law requires an agent to act in good faith, stay within the powers granted and keep records of what they do. Your document can add safeguards, like requiring your agent to share an accounting with another family member, so everyone can trust the person in charge.
Your attorney
Debra A. Spatz
Licensed in Ohio since 2008 · Ohio Supreme Court Reg. #0083356
Chicago-Kent College of Law · University of Illinois, Finance
Meet DebraBefore your first conversation
Bring a list of your bank, retirement and investment accounts and any real estate you own, plus the names of the person you trust and a backup. If you have an older power of attorney, bring it.
★★★★★Google review
If you are looking for a local estate attorney in Bath, Ohio, Deb Spatz with Spatz Law Group is truly exceptional. I know several people who have worked with Deb, and they consistently share nothing but positive experiences. Deb takes the time to get to know you and your story, allowing her to create a plan that brings real peace of mind for you and your family. She even offers the option to record a legacy video for your loved ones, which is an incredibly meaningful and lasting gift. Do not wait until it is too late. I highly recommend calling Deb today.
Frequently Asked Questions
Is a power of attorney durable in Ohio?
Under Ohio law, a financial power of attorney is generally durable unless the document says otherwise, which means it keeps working if you become unable to manage your affairs. That's the whole point of having one, and yours will say so clearly.
When does a financial power of attorney take effect?
You choose. It can take effect immediately, which makes it easy to use, or only once you can no longer manage your own affairs. Debra explains the trade-offs so you can decide what fits your family.
Can I name two people to act together?
Yes. You can name co-agents and decide whether they must act together or can each act alone. Requiring them to act together adds a check, but it can slow things down when quick action is needed. Many people name one agent and a backup instead. Debra helps you weigh which fits your family.
Does it need to be notarized?
It should be. Ohio treats a notarized signature on a power of attorney as genuine, which makes banks more likely to accept it. If your agent may ever need to sell or refinance real estate, the document must also be recorded with the county where the property sits. In Summit County, that's handled by the Fiscal Office's recording division.
Does a power of attorney still work after I die?
Can a bank refuse to accept my power of attorney?
It can happen. Ohio law protects a bank that relies on a properly notarized power of attorney in good faith, which encourages banks to accept one, but it doesn't set a firm deadline forcing them to. Some banks ask your agent to sign a certification or use their own forms. A clear, current, Ohio-compliant document, signed well before it's needed, makes those conversations much easier.