What is a power of attorney?

Powers of attorney or an “advanced directives” allow you to designate someone you know and trust to be your agent to make health care and financial decisions on your behalf. The health care power of attorney and financial power of attorney are critical components of your asset plan. When you complete your estate plan, you choose who will be your agent, and what decisions your agent may or may not make on your behalf concerning emergency and important medical decision and management of your financial assets.