The Durable Power of Attorney: As the overall topic of this article, the durable power of attorney tops the list. A durable power of attorney form allows an individual (“principal”) to select someone else (“agent” or “attorney-in-fact”) to handle financial-related matters on their behalf. Durable Power of Attorney. With a Durable Power of Attorney form, a person – called the Principal in the Durable Power of Attorney – appoints another person – called the Agent in the Durable Power of Attorney – with the authority or power to take care of the Principal’s affairs in the event that … A Durable (Financial) Power of Attorney is a legal document that gives an individual (called the “principal”) the power to appoint a trusted person or entity (their “Agent” or “Attorney-in-Fact”) to manage their finances in the event they no longer can themselves. A durable power of attorney simply means that the document stays in effect if you become incapacitated and unable to handle matters on your own. Free Printable Durable (Financial) Power of Attorney Forms. (Ordinary, or "nondurable," powers of attorney automatically end if the person who makes them loses mental capacity.) Durable powers of attorney help you plan for medical emergencies and declines in mental functioning and can ensure that your finances are taken care of. It is important to understand some of the different categories of power of attorney, the power provided in each, and the way in which a durable power of attorney is different. Having these documents in place helps eliminate confusion and uncertainty when family members have to make tough medical decisions. The term "power of attorney" can mean different things depending on its use and context, which can sometimes create confusion. The term “durable” means that, if the principal should become incapacitated, the form would remain in effect. Power of Attorney vs. power of attorney: A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. It is considered a more encompassing version of the non-durable POA and can be used so that agents can freely manage the affairs of the principal in the event they cannot do so themselves. A durable power of attorney allows you to handle another person’s financial decisions on their behalf.All decisions made must be to the benefit of the person being represented.