By Richard S. Franklin and Lester B. Law
A DPOA is a device used to authorize another person (the "Agent") to manage the financial affairs of the person granting the power of attorney (the "Principal"). Without using this tool (or other similar tools), in the event that the Principal becomes incapacitated, an expensive and invasive, court-monitored guardianship proceeding may be neeed to authorize someone to act on the Principal's behalf.