A Power of Attorney is a document whereby you appoint another person to act in your stead for all things financial. Without this document, a court would need to appoint a conservator should something happen to you that would render you incapable of handling your own affairs.
Most states have a statutory Power of Attorney. While most of these are very similar, there may be subtle differences either in execution or in certain powers.
As for execution, you probably will need to have your signature notarized. Some states require you to have your attorney-in-fact sign the document and have the signature notarized, as well. A few states require that the documents be filed with the state or county before the Power of Attorney will be recognized.
If you have questions, feel free to contact us.