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A durable power of attorney involves two parties: a principal, who designates an agent to manage their financial matters. This designation is usually made in writing. While it's common for a spouse to be chosen as an agent, the principal can select anyone they trust, with attorneys often suggesting a beneficiary from the will. The principal may appoint multiple agents to make decisions jointly or name an alternate agent if the primary agent cannot act. The key distinction between durable and general power of attorney is that the latter becomes ineffective upon the principal's incapacitation, as determined by a court, while the durable power of attorney continues to be valid until the principal's death or revocation.