Appointing someone through a power of attorney gives the person the legal authority to look after your affairs on your behalf. That means that whatever the person does on your behalf will be as if it were done by you. That’s why it is extremely important that you are careful to choose the best person to invest with that kind of authority. Try to choose someone you know to be trustworthy, financially astute, and likely to be around when you need him/her. Generally speaking, there are different types of powers of attorney.