A. Power of Attorney is a legal instrument that is used to delegate legal authority to another. The person who signs a Power of Attorney is called the Principal. The Power of Attorney gives legal authority to another person (called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal. The Principal can give an Agent broad authority, or very limited authority. For example, a Power of Attorney can be broad enough to allow the Agent to conduct the Principal’s banking and investment transactions for the Principal or for one real estate refinance or purchase where the Principal cannot be present to sign the necessary legal documents.