A Springing or Conditional POA only goes into effect if a certain event or condition occurs. It can end at a specific time, when you become incapacitated or when you die.
A Power of Attorney is also not like a bilateral agreement, it is more of a unilateral description of what authority is permitted by the principal.
A Power of Attorney document allows you to choose what your personal representative, or attorney-in-fact, will be responsible for by designating certain powers to them.
You should consider having a POA if: You travel out of the country often. You are employed in a hazardous work environment. You have been diagnosed with a serious illness. You have business or property that you would want maintained if you were unavailable. You have children that would need to be provided for if you were to become incapacitated. You want a specific person to be responsible for your affairs. You have rules about how you run your business, property, or life, and you want to ensure they are upheld. You are approaching old age and would like to designate a representative for yourself.