A Durable Power of Attorney is formal document in which you select a trusted person to serve as your Agent to act on your behalf for general matters not related to health care.  This broad grant of authority enables the Agent of your choosing to handle your financial affairs including a variety of tasks related to your financial matters.  This could include buying or selling assets, gifting, applying for benefits or filing tax returns.  A Durable Power of Attorney goes into effect once it is signed, and therefore we recommend that it not be given to the Agent until you instruct is to do so or it is demonstrated to be needed.  A Durable Power of Attorney is a necessary part of a comprehensive estate plan as a preventative measure to provide for the management of your assets in the event of incapacity or disability, at which point signing such an important legal document will not be possible.