The power is limited to financial and legal documents. Decisions of a medical nature or about the kind of care you receive are handled by other means (these require a Representation Agreement or Advance Healthcare Directive).
The decisions you can choose to authorize your Attorney to make on your behalf include such things as everyday banking; paying bills; renewing, changing, or canceling home or auto insurance; and refinancing, selling, or purchasing a home.
There are many reasons to appoint an attorney to act on your behalf, such as if you are often away and need someone to sign documents for you while you are out of town. The main reason that people appoint an attorney is to sign for them when they become incapacitated. If you become incapacitated, and do not have an attorney appointed, someone may have to apply to court for a type of adult guardianship called “Commiteeship” before property could be sold, mortgages renewed, or bills paid.
The appointment of an attorney should be approached with care and thought. Your attorney has the same ability to sell your property, close your bank accounts and change addresses that you do. There is potential for abuse of the appointment. You should only appoint someone in whom you have complete faith.
If you own real estate, have minor children, travel, have any major health concerns, or are simply coming to a point in life where you would like help to care for your finances, we would be happy to discuss how a Power of Attorney would be beneficial to you either now or in the future.