A Durable Power of Attorney (also referred to as a Financial Power of Attorney) is a written document granting one or more trusted persons (a/k/a “Agent”) authority to make designated personal and financial decisions for another. Durable Powers of Attorney are often used to complete real estate and other transactions in the temporary absence of the maker or “Principal”. Durable Powers of Attorney, like Living Wills or Health Care Powers of Attorney, also permit others you designate to make financial and other decisions on your behalf if/when you are unable to do so yourself due to illness or injury.

The Durable Power of Attorney designates the person(s) who will act on the Principal’s behalf. It also sets forth the extent and limits of such authority. For example, a Durable Power of Attorney can be limited to a particular activity or time period (i.e., closing on the sale of a home on a day when the person is out of town), or can grant the appointed Agent very broad and expansive powers and rights.

Once its properly signed, a Durable Power of Attorney remains valid even if the Principal or drafter subsequently becomes incapacitated. The powers it conveys terminate once the Principal revokes the document or dies.

People drafting wills often use the opportunity to plan for the possibility of their own incapacity. By preparing a Durable Power of Attorney, they can give another person of their choosing full legal authority to act on their behalf should they become unable to handle their personal and financial affairs. Without a Durable Power of Attorney, a person's family might need to go to court to have someone appointed (i.e., Guardian) to handle the person's legal affairs.

If a Durable Power of Attorney is made part of the will, it is essential that the will be made known to family members before the testator becomes incapacitated. If a will is kept secret, locked away in a safe deposit box or elsewhere until a person dies, it will be too late for the Durable Power of Attorney provisions to be useful.