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The video tutorial on Oregon Power of Attorney explains the concept and types of power of attorneys, emphasizing their importance in legally appointing someone to make decisions on your behalf. A Power of Attorney (POA) is useful when you need assistance or become unable to make decisions, such as during a vacation or hospital stay. The person granting authority is the principal, while the appointed individual is the agent or attorney-in-fact. Various types of POA include a durable power of attorney, which remains effective even if the principal becomes incapacitated. In many states, durability is presumed, allowing for added assurance in planning for future events.