Create your power of attorney before it's too late
The power of attorney is a powerful legal tool that allows you to grant another person with the legal authority to act on your behalf in dealing with your financial affairs. The power of attorney can be of limited authority, for example, allowing your niece to sign real estate documents for you when you are out of the country, or broad powers, such as allowing your spouse to manage all of your finances should you become unable to manage your money.
The key to the creation of the power of attorney is that you are able to do so freely (without undue influence) and while you have capacity. This requirement means that it cannot be created by you if you have not recovered from a stroke, a traumatic brain injury, or if you are suffering from moderate to severe dementia.