Q. 1. It is my understanding that there are four key documents that every Catholic should have. What can you tell me about the "Power Of Attorney for Personal Property" document?
A. 1. The power of attorney is a legal document that allows you to give someone else authority to act on your behalf, this person, or persons, acting as your legal representative. The Power of Attorney for Property allows your attorney to make decisions for you during your lifetime, even if you become mentally incapable. Your Power of Attorney (POA) can buy or sell property, enter into or defend a lawsuit, make investments and purchase things for you, and any and all financial decisions. They can do everything except make a will for you or change your existing will. It is important to remember that a Power of Attorney is valid as soon as it is written. If it is for the purpose of managing your affairs if you become incompetent in the future, it is best to keep the original with your lawyer or in a safety deposit box.
[Source: Catholic Diocese of Saskatoon, SK, Canada.]