What is a power of attorney?

A power of attorney 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 serves the same function as a power of attorney, however, a durable power of attorney is effective even if you become incapacitated.