When granting a Power of Attorney, an agent may be entrusted with the authority to make crucial financial decisions that impact you and your family. Because the agent will typically have access to all or your financial assets, it is important to assign this role to someone that you trust has your best interests at heart. An Agent may be authorized to:
Manage your financial matters
Buy or sell things for you
Apply for public benefits (like Medicare, Medicaid, or Social Security) for you
Collect your debts
Manage your business
Sue a person or entity on your behalf
Invest your money
Cash your checks
Your agent may also have the power to make health related decisions, but it is normally best to establish a separate Health Care Power of Attorney for that purpose.