Power of Attorney

A Power of Attorney (POA) is an important piece of the Estate Planning Process.  POAs can also be used in different contexts and aren't just for Estate Planning.   

A Power of Attorney can be broad, giving your "agent" a lot of authority over many matters, or it can be narrow, specifying exactly what he or she has the authority do on your behalf.

In the Estate Planning context, a Power of Attorney generally comes into play when things like incapacitation and prolonged absence, arise.  

In these instances, a POA allows someone to act on your behalf, usually regarding financial affairs and the like, until the circumstances rendering use of the POA  have changed.  


You get to decide when and for how long a POA will be in effect for. 

Too often, it isn't until we are in situations where something like a POA is needed, that we realize the value of having it in place, ahead of time.  

If something were to happen to you today - would your bills be handled the way you want them to be, would the people in your life know what to take care of in your life and how?  Even if you don't provide instructions, a POA can still allow your agent to at least address matters as they arise, for you. 

Some folks also find it useful to have this in place for their spouse or a business parter (often in a limited capacity for the latter), if they are frequent travelers for instance, or are frequently unavailable, depending on the demands and needs of their particular situation.