When an individual becomes incapable of making their decisions due to one or more personal reasons that might include poor health, some kind of injury or other unfortunate situations, one can put a power of attorney (POA) into place that can assist their loved ones in making difficult and necessary decisions and judgments on their behalf.
Individuals, who cannot take care of themselves, enhance their personal comfort or need guidance with decision-making processes can greatly benefit from this legal document known as the power of attorney. A power of attorney enables a principal, also referred to as a donor or a grantor to assign an agent (the agent is usually a person close to the individual in need) in order to manage all the necessary affairs.
There are five different types of this written authorization that allows the agent to act or represent on account of another person. In order to decide which type of power of attorney will be suitable for your personal circumstances, you need to study and understand each type first and the ways in which they have the ability to offer the best assistance possible. Here are the five different types of power of attorney explained: