A Power of Attorney can be a very useful tool in planning your estate. The Power of Attorney empowers someone to help you in the event you require assistance. A Power of Attorney authorizes another person to manage your financial affairs. The power is generally very broad and extends to most anything you own. Of course, therein lies the rub. You should appoint someone whom you trust, ideally someone who is younger and in good health, and who is willing to assume the responsibility. It can turn into a lot of work. The upside of a Power of Attorney is that someone, your attorney-in-fact, is empowered to help you by use of a document that can be prepared quickly and is inexpensive especially when you consider the expense it may help you avoid. The downside is that your attorney-in-fact doesn’t have to account to anyone for the property or funds. It also enables the holder of the power to misappropriate funds. Choose carefully. The Power of Attorney required now makes it very difficult to do yourself. We recommend that you execute a Power of Attorney in connection with a Health Care Surrogate Designation which is a medical Power of Attorney. That is discussed on another page.