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Power of Attorney

by Skills.Money
in Blog, Personal Finance
Reading Time: 4 mins read
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A Power of Attorney (POA) is a legal document that authorizes someone to act on your behalf. For example, if you become seriously ill or injured, you will probably need someone to care for your needs and personal affairs. This can be done through a power of Attorney.

You can assign a Power of Attorney to anyone you choose. For example, you can give that person authority to carry out only specific actions or transactions, or you may allow the person to act on your behalf in all matters, including your living will.

All POAs are not created equal. Each type gives your attorney-in-fact—the person who will be making decisions on your behalf—a different level of control.

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