Power of Attorney is a legal document where one person (known as the principal) gives another person (known as the agent or attorney-in-fact) the power to make decisions on their behalf. This can include financial and medical decisions, depending on the type of Power of Attorney.

The three main types of Power of Attorney are:

• General Power of Attorney
• Special Power of Attorney
• Durable Power of Attorney

A General Power of Attorney gives the agent broad powers to act on behalf of the principal in financial matters, such as buying or selling property, managing bank accounts, and handling investments. This type of Power of Attorney is typically used for a specific period of time or until the principal becomes incapacitated.

A Special Power of Attorney gives the agent limited powers to act on behalf of the principal in specific situations, such as signing a contract, buying or selling a property, or making medical decisions. This type of Power of Attorney is typically used for a specific purpose and a specific period of time.

A Durable Power of Attorney is similar to a General Power of Attorney, but it remains in effect even if the principal becomes incapacitated. This type of Power of Attorney is typically used to plan for future incapacity and ensure that the agent can continue to make decisions on behalf of the principal when they are no longer able to do so themselves.

Choosing the right type of Power of Attorney depends on your specific needs and circumstances. If you want to give someone broad powers to act on your behalf in financial matters, a General Power of Attorney may be appropriate. If you only need someone to make decisions on your behalf in specific situations, a Special Power of Attorney may be more appropriate. If you want to plan for future incapacity, a Durable Power of Attorney may be the best choice.

While it is not required to have a lawyer create a Power of Attorney, it is highly recommended. A lawyer can ensure that the document is legally valid and tailored to your specific needs. They can also provide guidance on choosing the right type of Power of Attorney and selecting the right agent to act on your behalf.