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A durable power of attorney involves two parties: a principal and an agent. The principal designates the agent to handle financial matters on their behalf, typically in writing. While spouses are often chosen as agents, the principal can select anyone they consider trustworthy, with attorneys advising to choose an heir as a potential agent. Multiple agents can be appointed to make decisions together, or an alternative can be designated if the primary agent cannot act. Unlike a general power of attorney, which expires upon the principal's incapacitation, a durable power of attorney remains effective until the principal's death or until the principal revokes it.
