What is a Power of Attorney and Do I Need One?
A Power of Attorney (POA) is a crucial legal document that allows an individual, known as the principal, to designate another person, referred to as the agent or attorney-in-fact, to make decisions on their behalf. This document is essential for managing a wide range of personal, financial, and healthcare affairs, particularly when the principal is incapacitated or otherwise unable to manage their own affairs. The objective of this post is to provide a detailed understanding of POAs, including the different types, their practical uses, and how to properly establish one to ensure your affairs are managed according to your wishes.