Like with a will, a power of attorney (POA) is an important part of an overall estate plan. A POA gives the person named (called an attorney) the power to make decisions on your behalf while you are still alive. You should appoint someone you have complete trust in as they could have control over your financial dealings.
There are two main types of power of attorney: one for property, which documents your wishes with respect to your property and finances, and one for personal care, which allows you to specify particular wishes related to medical treatment, shelter, safety, nutrition or hygiene. You can designate different people for each type.
There are limits you can place on a power of attorney if you want to. This can be discussed further with a lawyer.
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