Durable Power of Attorney
A Durable General Power of Attorney is a legal document that enables the grantor (Principal) to designate another person called the agent or attorney-in-fact to act on behalf of the Principal, even in the event the individual becomes disabled or incapacitated. Traditionally, a power of attorney would be canceled in four situations: (1) if you specifically cancel (revoke) it, (2) if it has an expiration date, (3) if you die, or (4) if you become mentally incompetent.
In more recent times, the durable power of attorney was created to allow it to continue to be in effect after mental incompetency. The word “durable” means that the power of attorney continues to be effective after the principal becomes mentally incompetent.