What is the maximum authority granted by a Durable POA?

The correct answer highlights the scope of a Durable Power of Attorney (POA) in financial matters. A Durable POA is a legal document that allows an individual (the principal) to appoint someone else (the agent or attorney-in-fact) to manage their financial affairs. This authority remains effective even if the principal becomes incapacitated, hence the term "durable."

The authority granted can encompass a wide range of financial decisions, allowing the agent to handle tasks such as managing bank accounts, paying bills, filing taxes, and making investment decisions on behalf of the principal. While this concept primarily focuses on financial decision-making, it is worth noting that the specific powers can be outlined and limited in the document itself, depending on the principal's wishes.

Other options suggest narrower scopes of authority. For instance, options discussing authority limited to legal matters or medical issues may lead one to misunderstand the broad usage of Durable POA, which specifically allows for comprehensive management of financial matters and does not inherently limit the scope to only legal or medical concerns.