Powers of Attorney are documents that allow one person (the “principal”) to grant another person (the “agent” or “attorney-in-fact”) the authority to make decisions and act on the principal’s behalf regarding assets and accounts.

The two types of powers of attorney McKarcher Law recommends for all clients are a Durable Power of Attorney (commonly referred to as a “Property Power of Attorney”) and a Health Care Power of Attorney.

In each document, clients will nominate agents to assist with financial and healthcare decisionmaking should they become incapacitated or otherwise unable to make these decisions on their own.

Many people do not know they should have a property power of attorney long before they retire or have children. Parents of college students, for example, can be surprised at how difficult managing their adult child’s affairs might be if the child is injured, or traveling overseas, without having a property power of attorney in effect.