Power of attorney is a document that gives people the authority to act on another person s behalf for a specific period and matter depending on what is stated on the paper. This means that another person can sign documents for you and make decisions on your behalf. The person who gives the power of attorney is often called the principal while the grantee is called the proxy or sometimes the agent. Laws on creating the power of attorney are different on each state. But almost all of the laws agree that no agent should be below 18 or 21 years old. Time. When choosing the best agent to represent you, then it may be important to consider the amount of time they can spend on managing financial and legal matters. Getting a POA is a better choice compared to having a conservator, which is a guardian assigned to you by the local probate court. Probate hearings usually take time to complete, not to mention that you are going to incur more expenses than you would with a POA. Of course, why would you waste your time and money when there s a better alternative out there? The law usually allows the agent to transfer your assets to your spouse (if your agent is not your spouse). However, the law does not allow him/her to transfer any of your properties to any other individuals, even your children. Always seek the assistance and guidance of your private attorney when making or drafting the content and provisions of your power of attorney. There is also what they call the Psychiatric Advance Directives, which gives the grantee the right to decide for the care and treatment of someone who is mentally ill. Sometimes, this is appointed by the parents or by the courts, depending on who had guardianship on the person. Anytime, the power of attorney given to a person can be revoked regardless of the specified period stated in the document. You still need one even if you already have drafted a living will. Medical powers of attorney and living wills are two different legal documents. The former merely authorizes a person to make important medical care decisions such as those regarding use of life support when the principal is mentally incapable of doing this for himself or herself.