A North Carolina durable power of attorney is a document used to appoint an attorney-in-fact to make financial decisions, personal or business-related, for a principal (individual who executed the form). This type of power of attorney is used frequently as the arrangement continues even if the principal becomes incapacitated. Having a durable POA in place gives the principal some peace of mind in knowing their estate and business(es) will be taken care of if they are unable to do so themselves.
The appointed attorney-in-fact should be skilled in business and accounting but also honest and dependable, preferably someone close to the principal. Those who wish to establish a power of attorney that terminates upon incapacitation should consider a general power of attorney.
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