A legal document authorizing someone to act on your behalf in financial or legal matters.
A power of attorney (POA) is a legal instrument that grants another person — your "agent" or "attorney-in-fact" — the authority to make decisions and take actions on your behalf.
There are several types:
Durable Power of Attorney remains effective if you become incapacitated — this is the most critical for estate planning.
Springing Power of Attorney only activates upon a triggering event, typically incapacity.
Limited Power of Attorney restricts the agent's authority to specific actions or timeframes.
Without a POA, if you become incapacitated, your family may need a court-appointed guardianship — an expensive, time-consuming, and public process. A durable POA is considered essential in any comprehensive estate plan.
Have questions about power of attorney?
Schedule a conversation