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In the video tutorial on Oregon Power of Attorney, the concept is defined as a legal document that enables an individual (the principal) to appoint someone else (the agent or attorney-in-fact) to make decisions on their behalf. This is particularly useful if the principal is unable to make decisions due to a temporary situation, like a vacation or medical issue. The tutorial outlines different types of power of attorney, focusing on durable power of attorney, which remains effective even if the principal becomes incapacitated. Additionally, it addresses various names for the agent, such as representative, proxy, and surrogate. The video emphasizes the importance of understanding these aspects when creating a power of attorney in Oregon.
