A Durable Power of Attorney (DPOA) is a legal document that grants someone, called an “agent” or “attorney-in-fact,” the authority to make decisions on behalf of another person, known as the “principal.” Unlike a regular power of attorney, a DPOA remains effective even if the principal becomes mentally incapacitated. This durability ensures that the principal’s affairs are managed without interruption during times of illness or incapacity. Why is Durable Power of Attorney Important? The DPOA is crucial for planning future financial and medical decisions. It allows the principal to choose a trusted person to handle important matters such as managing bank accounts, paying bills, handling investments, or making healthcare decisions. This avoids delays or complications if the principal cannot act for themselves. Without a DPOA, family members may need to go through lengthy court procedures to gain control over the principal’s affairs. When Should You Get a Durable Power of Attorney? ...
