For many people, estate planning brings to mind thoughts about a will or a trust. However, a complete estate plan should address more than what you would like to happen after you die. Some estate planning documents, like a durable power of attorney, can address what you want to happen while you are still alive.
A durable power of attorney is a legal document that grants someone the authority to manage your finances on your behalf. This person is called an attorney-in-fact, although you do not need to choose an attorney to fill this position.