A durable power of attorney allows you to appoint an individual (referred to as an attorney-in-fact or agent) to manage your financial affairs and property. You have the option of making your Durable Power of Attorney effective immediately or you can choose to make it take effect in the future. Some individuals execute a Durable Power of Attorney for a limited purpose. For example, if one is traveling out of the country for an extended period that individual may choose to execute a Durable Power of Attorney so that the appointed person can manage their affairs while they are away.