This document allows someone to act on your behalf. It should be given to a person you have confidence in, usually a spouse or adult child, to act for you if you suddenly become incapacitated. This person has the power to sell assets, enetr safety deposit boxes, pay accounts, invest monies etc.  It can even be worded to be effective if should you be admitted to a psychiatric hospital. Assigning a Power Of Attorney is an act which should be done by everyone.