A Power of Attorney is a legal document that allows a designated individual (known as the agent or attorney-in-fact) to make financial decisions on behalf of another person (known as the principal).

A Power of Attorney is important because it allows the principal to designate someone they trust to manage their financial affairs if they are unable to do so themselves due to incapacity or other reasons.

The powers granted in a Power of Attorney can vary depending on the document. They can include the ability to manage bank accounts, pay bills, make investment decisions, and buy or sell property, among other things.

Anyone over the age of 18 should consider creating a Power of Attorney, as unexpected accidents or illnesses can happen at any time. It is especially important for seniors and individuals with health concerns to have a Power of Attorney in place.

To create a Power of Attorney, an individual must be of sound mind and able to make their own decisions. They can work with an attorney to draft the document, which must be signed and notarized to be legally valid.

Yes, a Power of Attorney can be revoked or changed at any time as long as the principal is still competent to make decisions. The principal can simply create a new document revoking the old one or make changes to the existing document.