One of the primary uses of a durable power is the delegation to an agent of the management and control of the principal's financial affairs during his or her incapacity. The following is a sample of the types of property management powers that might be considered for a power of attorney:
to make deposits and withdrawals from bank accounts
to sign tax returns and appoint qualified individuals to represent the principal with the IRS to make investment decisions
to deal with retirement plans, including IRAs
to have access to the principal's safe-deposit box
to create a living trust and fund a previously created living trust to revoke or change beneficiary designations
to vote the principal's stock
to forgive or collect the principal's debts
to enter into contracts on behalf of the principal to make gifts on behalf of the principal
to disclaim gifts or bequests made to the principal
to deal with life insurance on the life of the principal
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