There may come a time for all of us when we are no longer able (or don't want to) handle our financial affairs.
The Durable Power of Attorney for Financial Matters is usually prepared by a lawyer to clearly show what is and is not covered. The form names an agent (other person, or firm) to have authority to pay bills, make deposits, do investments, arrange for insurance policies, etc.
The "durable" part just means it gives authority to the named agent when some illness, etc. prevents the owner of the assets from acting.
There is a variation called a …