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A durable power of attorney (DPOA) involves two parties: a principal, who selects an agent to manage their financial matters, typically in writing. While a spouse is often chosen as the agent, any trustworthy person can be selected, with attorneys suggesting choosing a will beneficiary. The principal may appoint multiple agents to make decisions together or designate an alternative agent if the primary one cannot act. The key distinction between a durable power of attorney and a general power of attorney is that the latter ceases to be effective if the principal becomes incapacitated, as determined by a court. In contrast, a DPOA remains in effect until the principal's death or their revocation.
