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Durable Power of Attorney

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Definition: A type of Power of Attorney that is effective both while a person is completely competent to manage their own finances and also after the person is determined to be mentally incapacitated. Contrast this with a Springing Power of Attorney, which becomes effective only after a person has been declared mentally incompentent. The person named to act on your behalf in a Power of Attorney is called your "Attorney in Fact."

Other Terms Beginning With D

Also Known As: Financial Power of Attorney, Power of Attorney

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