durable power of attorney
A durable power of attorney (POA) is a legal document that you sign giving a named individual(s) authority to help you with any and all matters (banking, check writing, investing, taxes, etc) and remains valid even if you become mentally incapable of making decisions. It should be created and signed while you are in good mental health. The word “durable” distinguishes this from a standard POA in that the assigned power continues even if you become mentally incompetent, at which point a standard POA would be invalid. All POA’s expire at named individual’s death.