A Financial Power of Attorney is a legal document that allows one person, known as the principal, to appoint another person, called the agent or attorney-in-fact, to manage their financial affairs. This can include tasks like paying bills, managing investments, and handling real estate transactions. The agent acts on behalf of the principal and must follow their wishes as outlined in the document. This arrangement is often used when the principal is unable to manage their finances due to illness, travel, or other reasons. It is important for the principal to choose a trustworthy agent, as they will have significant control over financial decisions.