The primary purpose of a Durable Power-of-Attorney is to designate a person or persons who can handle your business and financial affairs in the event that you are not able to handle your financial affairs due to mental or physical infirmity. The term “durable” denotes that the powers and authority given to your agent (the holder of the power-of-attorney) will remain in effect even if you cease to be mentally competent after you execute the document. You must be mentally competent to execute a valid power-of-attorney, so it is too late to execute one if a person already has serious dementia or Alzheimer’s Disease. A Durable Power-of-Attorney can be made as broad or as limited as you desire. It may also include the power and authority to handle medical decisions as well.
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