A New York statutory durable power of attorney form authorizes an attorney-in-fact to manage a person’s financial matters in perpetuity after the document’s execution, even in the event of incapacitation. The appointed attorney-in-fact should be someone close to the principal, a person who is capable but also trustworthy. Once the power of attorney form is signed, the attorney-in-fact will be able to represent the principal when performing tasks such as asset management, personal and business-related transactions, and other important financial affairs. Unless the principal expresses that the document terminates upon their incapacitation, the power of attorney is meant to be durable.
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