A Power of Attorney, or POA, is a legal document that gives someone the authority to manage your affairs and make decisions on your behalf.
Depending on the type of POA, the authorised person can make financial, business, and personal decisions on your behalf.
Having a Power of Attorney can be helpful when you are unavailable, unable to make decisions, or incapacitated, meaning you can’t manage your own affairs due to mental or physical complications.
Power of Attorney documents include two parties:
- Donor: The individual granting powers on their behalf
- Attorney: The person given the authority to make decisions on the donor’s behalf