What exactly is a power of attorney and what is a living will? Are they the same or two different documents?

Good question.  They are different documents that can work in conjunction with each other.  In cases of medical or mental incapacitation, you can designate someone to make your medical decisions through a health care power of attorney.   There is also a power of attorney to designate someone to handle your financial affairs as well. 

If you want the same person to handle your medical and financial issues, it is best to draw up a General Power of attorney, which directs the person, also known as the agent or attorney-in-fact, to act on your half in various situations.  If you want your agent to handle specific situations only, then you can designate a Special Power of Attorney.  The three types of power of attorney are:

1. A durable power of attorney that remains in effect during incompetence or other disability;

2. A standby power of attorney that is triggered when there is an incapacity to manage affairs; and

3. A temporary power of attorney that generally applies only if an emergency arises.

To anticipate medical emergencies or situations where you cannot make medical decisions for yourself, you can direct the type of care you want or don’t want through a living will.  A living will is a directive to doctors and is also a guide to any designated health care agent as to your wishes.  You should consult with an attorney regarding the types of wills and powers of attorney you may need in the future.