Aging is not much fun. Along with physical or mental decline comes the loss of personal freedom and social independence. Some of us come to rely on family members or close friends to handle our affairs, including finances and medical issues. But sometimes a person who is acting in our best interests is unable to proceed past a certain point. He or she may be told that current laws prohibit various agencies from providing information or completing transactions with the presence or signature of a disabled family member. Delays can lead to difficulties in handling business matters for those who are unable mentally or physically to sign documents and get the work done.

Frustrations like these can be avoided when a debilitated person assigns his or her power of attorney to a trustworthy relative, friend, or business associate. This form, when duly executed, allows the designated person to act on behalf of the one who is transferring authority. Even a healthy person can choose to empower someone else to represent his or her interests in business or medical matters, including buying and selling decisions and duties.

What is a power of attorney?

A power of attorney lets a designee manage things like real estate transactions, loans, property repairs, investments, and any kind of banking needs. In addition, a medical power of attorney allows the representative to make decisions related to the health and well being of the other person, including life-and-death matters that can occur suddenly, and thus must be prepared to carry out the wishes of the person who has conveyed representation on the POA. Situations demanding such decisions can occur suddenly, for example, when an accident occurs or if an ill person’s condition declines sharply. Inserting or withdrawing a feeding tube, surgery consent, and life support will depend on the POA’s decisions, which hopefully represent those of the person who has handed over personal representation to the family member or friend with power of attorney.

Often the person with power of attorney must arrange home care or nursing care for an elderly person, which can be stressful and challenging. In managing a sick person’s medical and material needs, the caregiver who has been designated as power of attorney will act as a liaison between the family member and other entities, including banker, social worker, physician, investment officer, and sometimes bill collectors or the landlord. Upon producing a certified copy of the form, the POA earns the right to represent the person whose name appears on the document in just about any type of formal proceeding.