A power of attorney is a document in which you state that you give someone else (usually a relative or friend) the authority to make certain decisions and act on your behalf.

The person to whom you give these powers is called an “agent” or “attorney-in-fact.” You are called the “principal.” Executing a power of attorney does not mean that you can no longer make decisions; it just means that another person can act for you also. For example, you may be hospitalized for a brief period of time and need someone to deposit your cheques in the bank or pay your bills. As long as you are capable of making decisions, the other person must follow your directions. You are simply sharing your power with someone else. You can revoke the agent’s authority under the power of attorney at any time if you become dissatisfied with what they are doing.

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