A “Power of Attorney” is when you give somebody the authority to make financial decisions on your behalf. Powers of attorney can be of three types: (A) “springing” which means that it takes effect only when you become incapacitated; (B) “durable” which means that it’s effective the moment you sign it, and remains effective through your incapacity; (C) “general” powers of attorney are for all your financial matters; (D) “specific” or “limited” powers of attorney give authority only for specific matters and/or time periods. 

You do not need to give away all of your power over your affairs. Aside from granting only a limited or springing power of attorney, you can grant a general power of attorney and retain “half” your decision-making power; this essentially creates a “team” structure (you and your appointed agent) who work together to make your financial decisions.

All powers of attorneys (of whatever kind) end upon your death.