Legal document by which a person with assets (the principal) appoints another person (the agent) to act on the principal's behalf, even if the principal becomes incompetent. If the power of attorney is not "durable," the agent's authority to act ends if the principal becomes incompetent. The agent's power to act for the principal may be broadly stated, allowing the agent to buy and sell securities, or narrowly stated to limit activity to selling a car.
Durable Power of Attorney
| Financial & Investment Dictionary: Durable Power of Attorney |
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 | Power of Attorney (legal term) |
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| Agency Agreement (insurance term) |
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 | Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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