The basic definition of a power of attorney is a legal document in which you give someone else the power to act for you in specified ways. Two common types are a financial power of attorney and medical power of attorney. In Texas, we have a statutory durable power of attorney frequently used when needing a financial power of attorney because its form is approved by statute and offers some protections for those relying on it. A power of attorney is often referred to as a “POA”.  A Financial Power of Attorney In this document, you name someone you trust … [Read more...]