Cool Durable Power Of Attorney Vs Statutory Power Of Attorney References. Durable powers of attorney help you plan for medical emergencies and declines in mental functioning and can ensure that your. When that happens, a court will have to appoint a conservator for you to handle your personal and business affairs.
A power of attorney is a document that grants legal authority to one person, known as the agent or “attorney in fact,” to act on behalf of another, the principal, when they are unable to do so themselves.1 while the word attorney might make one assume these responsibilities are reserved for lawyers, the agent can actually be any person the. A durable power of attorney may, if you so choose, confer upon your designated agent the power to sign such a loan. When that happens, a court will have to appoint a conservator for you to handle your personal and business affairs.