What is a Living Will & Power of Attorney?What is a living will and a power of attorney? And why do you need these documents? It is important to have a plan in place in case of an emergency or a medical situation where you are unable to make decisions about your medical treatment and financial affairs. If you do not have a plan in place, others will have to make these decisions for you, which may or may not coincide with your wishes. These difficult decisions are often left to family members, which can be gut-wrenching and stressful for them. To make sure your wishes are met, a living will and a power of attorney are important documents to have in place ahead of time.