Answer: A Power of Attorney is a document that allows another person or people to manage your assets for you, upon your incapacity.
In your Power of Attorney, you are known as the Principal, while the person or people you choose to manage your assets are known as Agent(s).
A Durable Power of Attorney is effective from the date you sign it, through your incapacity, until you choose to revoke it.
A Springing Power of Attorney is only effective upon your incapacity.
Sonya Mittelman, Attorney at Law
Bronx, NY 10461