What is a Power of Attorney?
A Power of Attorney is the legal authority to make decisions and sign for a person under certain circumstances. The power to make decisions can be as broad or limited as authority given by the individual. This document is made to give someone permission to make decisions on your behalf.
If it becomes necessary for you to set up a power of attorney for yourself or for a loved one, the first step is to speak to an experienced estate planning lawyer who can help draft up the correct document. This is probably not something you should leave to chance by doing it yourself, particularly if the contract includes clauses about the principal’s death or incapacitation. You need to ensure your affairs will be taken care of according to your wishes no matter what.
Choosing the right person as an agent is also vital, and you should speak honestly and openly with those you are considering before making a decision regarding who is right for the job. A power of attorney is excellent tool for anyone concerned about the proper handling of his or her legal affairs and decisions.