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The video discusses representation agreements, essential estate planning documents used to manage incapacity events. These agreements allow individuals to appoint a representative who can make health care and well-being decisions on their behalf when they are unable to do so themselves. The authority granted can cover a wide range of healthcare choices, including types of care and treatment. Additionally, individuals drafting a representation agreement can specify limitations on the powers of their representative, restricting certain decisions they may not want them to make.