Powers of Attorney
A critical part of estate planning is an instrument called Power of Attorney. A power of attorney gives one or more persons the power to act on your behalf in a variety of situations. The individual(s) that are named in a Power of attorney are referred to as your agent and can perform any action permitted by the document.
In estate planning, a power of attorney is used to prepare for situations where you may not be capable of acting on your own behalf due to incapacity. Such a disability may be temporary (e.g., due to travel, accident, or illness) or it may be permanent. If you don’t have a power of attorney in place, it’s up to a court to appoint one or more people to act on your behalf. With a valid power of attorney, you choose who will act on your behalf.