The principal may not be able to monitor how transactions are made and eventually caused the agent to misuse his or her finances. When identifying the person who would represent the interest of the principal, it is important to determine a person who is trustworthy and would not betray the interest of the principal. While it is much easier to put off getting a power of attorney than to create one, you should not take any chances. Before it is too late, you have to designate a trusted person to act and make decisions on your behalf. Should you wait until you become mentally or physically disabled and regret later for not doing it earlier? However, the law states that the agent should be obliged to act only in the best interest of the principal. Thus, the money and properties involved must only be used for the benefit of the principal. If you need to establish a durable power of attorney, take note that you are providing your agent the following authority: withdrawing your money from bank accounts and spending it; selling your property; and pursuing legal actions and insurance claims. But how can you be so sure that your child will be able to perform all the responsibilities? If you have more than one child, it would be wise to divide the POA among the children who can handle the duties you require. Also, it helps to assess your children to determine which ones can decide according to your best interest or your wishes. Medical powers of attorney and living wills are two different legal documents. The former merely authorizes a person to make important medical care decisions such as those regarding use of life support when the principal is mentally incapable of doing this for himself or herself. On the other hand, a living will indicates what a person wants to happen regarding his or her medical care when time comes life support is necessary. It is a document that allows a person to grant legal authority to another person to make decisions regarding finances, business, medications, health care, and other personal affairs on his or her behalf. In general, a principal can choose from four types of powers that he or she can give to his or her agent (also called the attorney-in-fact).