A power of attorney authorizes another individual the authority to make legal decisions and take actions on your behalf in accordance with the document. This person is known as the “attorney in fact” or “agent,” and can be your spouse, partner, or someone you trust. A power of attorney can be generally applied to all your affairs, or be limited so that it applies only to particular assets or accounts held in your name. Without a durable power of attorney, should you become incapacitated, a court may assign an individual who will have these powers. A durable power of attorney could allow you to select the person you want to act on your behalf before it becomes necessary.