Your appointed agent does not have to be a lawyer, and their power is defined entirely by you. A Power of Attorney form can be general, granting broad authority over all of your medical and financial affairs, or it may be limited, giving your agent a defined set of responsibilities only in certain situations.
Instances where a Power of Attorney form would be necessary may include emergency situations where you are incapacitated and cannot make medical or financial decisions on your own. A POA legally protects your financial and health-related interests that would otherwise be appointed in court.
A power of attorney (POA) is a legal document that lets you appoint someone to handle financial and legal matters on your behalf. The person authorizing the other to act on their behalf is referred to as the principal, grantor, or donor. The person authorized to act is the agent or attorney-in-fact. With a power of attorney, the person you appoint will be legally permitted to take care of important matters for you, including paying your bills and managing your investments, if you are unable to do so for yourself. A durable power of attorney (DPOA) serves the same function as a power of attorney, however, a durable power of attorney is effective even if you become incapacitated.
A financial power of attorney is a simple, inexpensive, and reliable way to arrange for someone to manage your finances if you become incapacitated and can no longer make decisions for yourself. LegalZoom can help you appoint a durable power of attorney for finances to handle important financial and legal matters on your behalf. The person you name as your power of attorney will be legally permitted to handle important matters for you, which includes paying bills and managing investments if you are not able to do so for yourself. When you create a power of attorney for finances through LegalZoom, you will receive a personalized legal document specific to your state and advanced provisions to safeguard your family. The process begins by completing a simple online questionnaire. We review the answers for consistency and completeness, and then mail your power of attorney package to you.
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