Grant Power of Attorney Responsibly

A power of attorney (POA) is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter. The person authorizing the other to act is the principal, grantor, or donor (of the power), and the one authorized to act is the agent, donee, or attorney.

i. Meet the requirements:
To grant power of attorney, you must be at least 18 years old age and of sound mind. If your mental health is being questioned, ask your family physician to certify that you are of sound mind. Your agent must also be at least 18 years of age and capable of accepting the authority you grant.

ii. Choose your attorney wisely:
By granting power of attorney, you are giving someone permission to act as you entirely. Everything that you can say, do, sign or authorize; they now can. This is what makes it so extremely risky. Some people try and avoid this by squirreling money away in an offshore account that they keep only very private records of, and never make their attorney-in-fact aware of these assets. This is an extreme course of action and one that is likely to fail; someone with power of attorney can request any financial information held on you, including your tax details.