in the absence of anyone closer, relatives as distant as the children and grandchildren of an aunt or uncle may be entitled to some portion of a decedent’s estate. a will can also designate an executor or executrix who is charged with managing the estate by paying any debts and transferring the remaining assets of the estate to the beneficiaries. typically, a poa becomes effective the moment when both the principal signs it and the agent signs an “acknowledgment” of it.

to get durable power of attorney, a principal must obtain the statutory form provided by their state and sign it in accordance with state law. obtaining durable power of attorney means a principal grants someone else (the agent) the power to make financial decisions on their behalf. after a durable power of attorney has been completed and signed, the agent may begin acting on the principal’s behalf.