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A durable power of attorney involves a principal and an agent, with the former choosing the latter to handle financial matters on their behalf. This agreement is typically written, with a spouse often chosen as an agent, although the principal can pick anyone trustworthy. Attorneys recommend selecting a beneficiary in your will as an agent. The principal can choose multiple agents to decide together or nominate an alternative if needed. The main difference from a general power of attorney is that the durable power remains in effect even if the principal becomes incapacitated, lasting until their death or until they act.
