Some states also accept the electronic power of attorney as long as the document is proven legitimate and legal. There are different kinds of power of attorney given to people. It may be general or special, which is limited to only one type of dealing or issue. It all depends on the principal. There is also the scope of the power of attorney. Although this is well and good especially when you are so busy and want to put the business of investing your money to a professional. But money can turn people dishonest. And here lies the one disadvantage of a power of attorney putting your trust into one person. On the downside Remember that in giving a power of attorney to someone, you are basically telling people who read the document or the contract that you are giving the agent full rights to sign for you and agree or refuse something on your behalf. For instance, you can authorize an agent to sign a business contract for you but only that business contract and no other documents. Some are also given a section, for instance, a special power of attorney to look into the financial matters and to manage it and sign documents pertaining only to financials. If you want to have a say on who will take care of your affairs when you become incapable of doing so, then it makes perfect sense to create a power-of-attorney document. When is the best time to get a power of attorney? The answer is simple: now. It is because a POA is designed to protect yourself and your assets when the unexpected happens such as a debilitating illness or a serious injury. H/she could be a relative, a daughter or son and even a trusted friend. When picking out an agent, make sure that the person would stand by the principal s beliefs since they would act on behalf of the person. Aside from that, the attorney-in-fact would have to keep sufficient and detailed records since the principal should have a copy of transactions made in h/her behalf. It is a document that summarizes and proves your agreement to give your appointed person (the agent or attorney-in-fact) the authority to act on your behalf. There are four main types of power of attorney that you could choose from. These types may be functional and useful depending on your need and requirements.