Power of Attorney (POA) is a legal document that grants someone else the authority to act on your behalf in various personal, legal, financial, business, or other matters.
Power of Attorney works by granting legal authority to another person (known as "agent" or "attorney-in-fact") to act on your (known as "principal" or "grantor") behalf in various matters.
General Power of Attorney, Limited Power of Attorney, Durable Power of Attorney, Springing Power of Attorney, and Medical Power of Attorney are some types of Power of Attorney.
Eligibility for POA varies depending on the jurisdiction, typically any adult of sound mind can be eligible to act as an attorney-in-fact or grant POA to another person.
The powers can include managing your finances, making healthcare decisions, conducting real estate transactions, signing legal documents, handling tax matters, operating a business, and more.
As the principal, you have the right to revoke or terminate a power of attorney at any time, as long as you are mentally competent. This can be done by creating a new power of attorney document.