It’s a huge responsibility to act as an agent under a power of attorney, and it isn’t something everyone is able or willing to do. If someone names you as an agent in their power of attorney document, you can resign or refuse the position.
The main types of power of attorney are financial and medical, and agents act in place of the principal (the person executing the power of attorney) if and when that person becomes incapacitated.
If you are an agent under a financial power of attorney, it’s your job to take spending and investment measures that the principal would take. Although there may be specific limitations in the power of attorney document, you can typically open and withdraw funds from bank accounts, trade stock, pay bills, cash checks, and things of that nature. It’s also important that you keep good records.