A power of attorney is a document by which you appoint someone to make decisions on your behalf. The person appointed in a Power of Attorney is often referred to as an “Agent” or an “Attorney-in-Fact.”
There are generally two types of powers of attorney:
- Medical Power of Attorney
A medical power of attorney names agents to make healthcare and medical decisions on your behalf. In some states, the medical power of attorney may be a part of a living will or health care directive.
- Financial Power of Attorney
A financial power of attorney names agents to handle financial and business decisions on your behalf. Financial powers of attorney may be broad and apply to nearly any non-medical decision.