A "durable" power of attorney is used when a person becomes incapacitated, either physically or mentally, and cannot attend to their own affairs. The form contains specific language that the power will not be affected by subsequent disability or incompetence of the principal. The power of attorney takes effect immediately upon execution and may be used at any time, even prior to an incapacity, or if an individual is away or unavailable. In New York, this power of attorney authorizes the individual who is appointed to conduct financial affairs including real estate, banking, investments, certain gifting or any other matters other than health care decision making. It is necessary for the principal to particularize the type of transactions for which authority is given. You may name two individuals to make joint decisions, but it is not always recommended. Alternatively, you may use a durable power of attorney effective at a future time which is generally called a "springing" power of attorney. This kind of power of attorney is not effective immediately, but only becomes effective upon a person's incapacity. However, this type of power of attorney requires a doctor's verification of incapacity which creates an additional issue at the time of its attempted use.