Power of Attorney: a practical quick start
A Power of Attorney (POA) lets a trusted agent act for you. Pick someone reliable with deadlines and money. Align expectations before you sign anything.
Most states publish a short statutory POA form. Use it — banks and courts recognize it faster. Decide if it should be durable and whether it should ‘spring’ after a doctor certifies incapacity.
Initial only the powers you want: banking, taxes, real estate, benefits, lawsuits. Add limits in the special-instructions box, e.g., no gifts above $500 or no sale of the primary residence.
Sign correctly. Many states require notarization and some require witnesses. Keep originals safe; give copies to your bank and doctor’s office.
Review yearly and after life changes. Revoke in writing if the relationship changes, destroy old copies, and notify institutions you informed before.
Bottom line
Use the checklist above, keep documents handy, and compare on the same terms. When in doubt, verify with official sources.