Before you consult with a lawyer, it is best to view several POA forms and understand fully the terms specified on them. That way, you can see the various possibilities before you head over to a lawyer s office. There are many sources of POA forms online these days. You can download a form from the Internal Revenue Service (IRS). Essential Information about Durable Power of Attorney A durable power of attorney is a practical option for an elderly who wants to plan how his or her properties, business, and other affairs will be managed when time comes he or she is mentally unable to do so. It is especially useful for people who are suffering from a debilitating health condition such as Alzheimer s disease or are going to stay in a nursing home. Setting up or amending trust funds. Revoking the power of attorney. Laws covering the power of attorney vary in each state. For example, if the attorney-in-fact is the spouse and they get a divorce, the power of attorney is terminated. The court may also rule the document to be invalid, especially if the principal is proven to be incompetent when the document was signed. Identify particular obligations or transactions that the agent or attorney-in-fact could handle. Also, to avoid problems with abuse in the document, the American Bar Association suggests that list any powers that the principal don t want the agent to have, like altering the principal s will or giving away the principal s property. Should you wait until you become mentally or physically disabled and regret later for not doing it earlier? If you want to protect your assets and secure your financial future, then preparing a POA is one of the best decisions that you will ever make in your life. A lot of people have wrong notions about powers of attorney. In a situation when the principal could not handle a transaction, then this type may be more suitable. Usually, this kind of power of attorney has an expiration. When the principal becomes incapacitated or is no longer able to provide authority for the continuation of the power of attorney, the document is no longer valid.