Video Series · Basic Documents Explained
Power of Attorney Explained
A power of attorney is a legal document that allows someone else to act on your behalf. A power of attorney states who you choose to act on your behalf when you cannot. If you don’t create a power of attorney in advance, a friend or family member might have to go to court to have a guardian appointed if you become incapacitated and are no longer able to make decisions for yourself – and that process can be lengthy, expensive, and very public.
A durable power of attorney is one that remains in effect even if the principal becomes incapacitated, allowing the agent to continue making decisions until the principal recovers or dies.
This type of power of attorney is particularly useful in situations where the principal becomes mentally incompetent or physically unable to manage their personal care, property, or finances, such as with an illness or accident.