In a Property Power of Attorney you, the Principal, appoint an Agent to administer your property during your lifetime. A principal purpose of the Power of Attorney is to have someone appointed to protect assets in the event the Principal becomes too ill to do so. If the Principal is legally incapacitated and has no Power ofAttorney, the Principal's family must go to Court to have a Guardian appointed. Once the Guardian is appointed, the Guardian must report to the Court on an annual basis, and there are limitations on how the property may be used without Court permission.
The existence of a properly executed Power of Attorney can save a family significant expense and will ensure that the person you wish to handle your affairs is in a position to do so.
Property Powers of Attorney end upon the death of the Principal, so be aware that they are not a substitute for a Last Will and Testament.