 A power of attorney is a document that allows you to hire someone to act on your behalf in treatment your assets and financial affairs A power of attorney may be general, giving the person you appoint powers to deal with all of your advantages and financial affairs, or it can be limited to allow the person you employ more limited powers. An enduring power of attorney is a power of attorney that continues to be in effect even if you later become emotionally unable of managing your affairs.
The person you appoint is called the “attorney” or “donee” of the power of attorney.
If you make an authority of attorney, you are the “supporter” of the power of attorney. By designating a person as your attorney under a power of attorney, you are giving that person a great deal of power over your benefits and financial affairs. The law places severe duties of faithfulness on a person who acts as an attorney under a power of attorney. The attorney’s duties are called “fiduciary” duties.
As long as you are emotionally capable to manage your own affairs, the person you appoint as your attorney may only use the power of attorney with your permission and subject to your directions. Certainly, you may cancel the power of attorney as long as you are mentally competent.
The attorney has a legal duty to act in your best interests, putting your interests in front of his or her own, and to exercise the care of a reasonable careful person in making decisions for you.
If you become unable of managing your own financial affairs, then your attorney under an enduring power of attorney may take over your financial affairs and make decisions for you.
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