Final answer:
A Power of Attorney is the formal authorization that allows an individual to make legal decisions on behalf of a patient. This can include handling a patient's healthcare decisions if they are incapacitated.
Step-by-step explanation:
The formal authorization that identifies an individual as legally able to make decisions on behalf of a patient is a Power of Attorney. This legal document allows a person to appoint someone else to handle their medical decisions, among other responsibilities, in the event they are incapable of doing so themselves. A Living Will is a written statement detailing a person's desires for their medical treatment should they become unable to communicate their wishes. Informed Consent refers to the process of a patient agreeing to a medical procedure with full knowledge of the risks, benefits, and alternatives. An Advance Directive is a broader term that encompasses the Living Will and can also include designations such as a DNR (Do Not Resuscitate) Order or a health care proxy.