Power of Attorney

A Power of Attorney is an essential estate planning document. In a Power of Attorney, the principal (you) names one or more agents to act on your behalf. The Power of Attorney can be general, empowering the agent to take any action on your behalf, or limited, restricting the areas in which the agent can act. Furthermore, you can decide if the Power of Attorney is effective at the time of signing or upon the occurrence of a future event. For example, you can have the Power of Attorney become effective if and when you become incapacitated.

You need a Power of Attorney to have someone manage your assets, pay bills, and make decisions, if you become incapacitated. The alternative is for someone to ask the court to declare you incompetent and appoint someone to act on your behalf.