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The Individual Giving Control Is Called The Principal, And The Individuals Or Organizations Obtaining Powers Are Known As.
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Unle ss you specify otherwise, generally the agent’s authority will continue until you die or revoke the power of attorney or the agent resigns or is Durable power of attorney allows you to handle another person’s financial decisions on their behalf. Enables an agent to act on your behalf even if you become incapacitated. A durable power of attorney (dpoa) form allows an individual (principal) to select someone else (agent) to handle their financial affairs while they are alive.
