A Power of Attorney, also known as a POA, is a legal document that grants an “agent” the power to act on your behalf. Your agent has the power to act in your place in almost all financial transactions, from writing checks to selling real estate. You can limit the power of your agent if you choose. Because you never can predict what tomorrow may hold, it is important to have a trusted person in place to manage your affairs should you become unable to do so yourself.