When it comes to the question of how long a power of attorney lasts, the answer is twofold. Legally, the duration of a power of attorney is determined by the creator (also known as the principal). If a date is set for the expiration of the POA, it will remain in effect until that date. If no expiration date is specified, then it will remain in effect until the death or incapacitation of the principal.
Practically speaking, a permanent power of attorney does not have a fixed expiration date and can be revoked by the principal at any time. A durable power of attorney is one that remains in effect even if the principal becomes incapacitated. This type of POA is often used when the principal is unable to make decisions for themselves due to illness or injury. In some states, powers of attorney are assumed to be durable unless otherwise stated.
An emergency power of attorney will not come into effect until the principal becomes incapacitated. This type of POA is often used when the principal needs someone to make decisions on their behalf in an emergency situation. It is important to note that a power of attorney is instantly invalidated upon the death of the principal. Financial institutions are required to accept valid forms of POA from principals, and those that unreasonably refuse to do so may be subject to sanctions and attorneys' fees.