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A durable power of attorney (DPOA) and a healthcare proxy are both written documents that create an agency, appointing an agent to act on your behalf, but they serve different purposes. Both documents remain valid while you are alive and lapse upon your death. A DPOA allows you to designate a trusted individual to manage your financial affairs if you cannot do so yourself. This includes significant powers such as handling investments and bank accounts. In contrast, a healthcare proxy specifically focuses on medical decisions when you are unable to make them. Understanding these distinctions is essential for effective planning and appointing the right agents.