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A durable power of attorney involves two parties: a principal and an agent. The principal appoints the agent to manage their financial matters, usually in writing. While many choose a spouse as the agent, any trustworthy person can be selected. Attorneys often recommend choosing someone who is also a beneficiary in the principal's will. The principal may appoint multiple agents to make decisions jointly or designate an alternative agent if one cannot act. The key distinction between durable and general power of attorney is that the general type expires upon the principal's incapacity, as determined by a court, while the durable power remains effective until the principal's death or revocation.
