A durable power of attorney is a legal document that a person (the principal, grantor, or donor) signs to appoint another person as the grantor’s agent or attorney-in-fact—with authority to make financial and property-related decisions on behalf of the principal—including transactions involving business interests, investments, insurance, taxes, bills, real estate, stocks, bonds, commodities, personal property, Social Security, Medicare, Medicaid, and other financial matters.

A traditional power of attorney is effective only while the principal has full mental capacity, but a durable power of attorney remains effective if the principal becomes physically or mentally disabled or incapacitated (incompetent) from a stroke, Alzheimer’s disease, an automobile accident, or other cause. In some states the legislature has provided a form durable power of attorney in a statute (law) and the document may be referred to as a statutory durable power of attorney.

In Oregon, a durable power of attorney is a legal instrument that allows an individual (the principal) to designate another person (the agent or attorney-in-fact) to manage their financial and property affairs. This authority can include handling business matters, investments, insurance, taxes, and real estate transactions, among others. Unlike a traditional power of attorney, which loses its validity if the principal loses mental capacity, a durable power of attorney in Oregon remains effective even if the principal becomes incapacitated due to conditions like stroke, Alzheimer's disease, or injury. Oregon law provides specific provisions for creating a durable power of attorney to ensure it is legally recognized and effective. It is important for the document to be drafted in accordance with state laws, which may include signing requirements and the need for witnesses or notarization. Individuals are encouraged to consult with an attorney to create a durable power of attorney that accurately reflects their wishes and complies with Oregon statutes.