What is the best POA?

Echoing that the best POA is prepared by an attorney. It is a legal document and you want it to be accepted even across state lines if that were to ever become necessary.

Yes, use an attorney so that the forms and language conform with the regs your state.

The person in question must be competent and grant the POA to another person or persons.

Avoid joint POAs. Have a secondary but it’s best if one person only is primary.

Have the document written to cover a broad range of issues, all financial, medical, housing, care etc. Don’t split medical and financial issue to different people.

There should be two things giving the POA power to enact decisions. The person is of sound mind and voluntary grants you permission to act on their behalf and/or the person is unable to handle their affairs.

The one drawn by an elder care attorney would be best. It can be complicated. The POA is going to have to be someone who can handle financial stuff, and can keep meticulous records. It should be a person chosen by the elder, and the elder is going to have to be in control of faculties enough to assure the lawyer that this is his or her intention, to hand over the management of his financial (and I assume you mean financial POA as there is also health care POA) to someone else. Generally this is a family member if one is able to step forward in this position. If there is a Trust someone must become Trustee of the Trust to manage the Trust and if the accounts are just placed otherwise as normal accounts then POA is best. Not an uncomplicated undertaking at all, and anyone attempting to do it should have as much information as they are able. Any added information you can give us will help folks on the forum give you added information. See an Elder Care Attorney.