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In this video, the concept of Power of Attorney (POA) in Oregon is explained, including its types and creation process. A Power of Attorney is a legal document that allows you to appoint someone, known as an agent or attorney-in-fact, to make decisions on your behalf, particularly during times of incapacity or when you require assistance, such as during a vacation or hospital stay. The person granting authority is referred to as the principal. Various types of POA include a durable Power of Attorney, which remains effective even if the principal becomes incapacitated. Many states presume durability by default unless specified otherwise. The video aims to clarify these roles and the significance of POA in managing financial and personal affairs.
