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The term refers to a legal document that allows you to appoint someone who can make important choices for yourself when time comes you can no longer do it for your own. The person you appoint may be a family member, a relative, or a friend whom you are confident enough to make the best choices for you, especially when it comes to decisions regarding your health and finances. If you designate someone whom you trust as your agent, you can have peace of mind that the person can make decisions for you according to your best interest. The agent is also called the attorney-in-fact. Do not be misled by the term, though, because an attorney-in-fact does not have to be a lawyer. Your document also has to be tailored to your particular needs and wishes so that you have nothing to worry about in the future.
To put it simply, this legal term is a medium for granting an individual the right to make medical, financial, and other decisions on your behalf. Easy to understand, isn’t it?
The authority to manage another person’s affairs may begin immediately or only when the principal can no longer make decisions on his or her own. The latter scenario happens when the principal is out of the country for a while or when he or she becomes mentally incapacitated.
Granting someone a legal authority to decide on your behalf does not necessarily mean you cannot make decisions for your own anymore. It only means that at the same time, another person can also make choices for youPower of Attorney: A Brief Overview by Harrison Barnes
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