To be able to handle and manage your finances better, your agent must always decide to keep his/her own money separate from yours. Thus, there would be no confusion. The agent must not be personally involved in any transaction where he or she is representing your interests. For example, he/she must not be a stock investor who would gain more from buying your shares in a company in an inappropriate manner or pricing. 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. Frequently Asked Questions about Power of Attorney If you are considering getting a power of attorney, you should fully understand what it is all about. In general, it is a legal requirement that you be in a competent and normal state of mind when getting a power or attorney or appointing a person to be your attorney-in-fact. But deciding whom you will entrust your assets, money, and health (even your life) can be very tough. To make the selection process a bit easier for you, take heed of the following considerations that you must include when nominating a person in your power of attorney. Age It is a basic factor in determining whether someone is fit to become your attorney-in-fact. You can ask the lawyer about the form of authority that suits your needs best as a principal. 4. The parties that will receive the power-of-attorney documents Your power of attorney must be put in writing, signed by all parties involved (including the witnesses), and duly notarized. If the terms in the POA are related to taxes, it must be filed at the state government. This is especially true with people who are gravely injured and cannot make decisions for themselves like for instance when they are under comatose or when they cannot speak, move or are invalid. Power of attorney is one of the ways that you can appoint a representative for you should something happen to you.