A durable power of attorney gives an agent broad authority to manage finances if the principal becomes incapacitated. Serving as an agent is both an honor and a fiduciary duty with legal risks. Agents must act in the principal’s best interest, keep accurate records, manage property responsibly, and stay within the scope of authority. By following best practices and seeking legal guidance, agents can protect their loved one’s assets while avoiding costly mistakes.

Learn about incapacity planning and protect your family's future. Discover essential legal documents for effective incapacity planning.