What is a durable power of attorney?

A Durable Power of Attorney (DPOA) is a legal document in which you (the principal) give another person (the agent) the authority to manage your financial affairs and other assets. This document is a key element of estate planning and is especially important in Texas. Under DPOA, the principal can give their agent the power to make decisions about finances, investments, real estate, healthcare, and other matters. These powers are written down in the document and can include anything from making a purchase to paying bills and taxes. The principal can also choose to make the power of attorney “durable,” meaning that the power will last even if the principal becomes incapacitated. In Texas, a DPOA can also be used to appoint an agent to make medical decisions on the principal’s behalf. The important thing to remember is that a DPOA is a power that the principal gives to the agent; the agent cannot use the power without the express permission of the principal. DPOA also ends when the principal dies, unless it is specifically made durable. In any case, it is important to talk to a lawyer before signing any legal documents, such as a Durable Power of Attorney.

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