Durable General Power of Attorney
Giving up control of your life is difficult. However, there comes a time, sometimes sooner than expected, when you might need a little extra help from a trust family member or friend. Oftentimes that comes in the form of forgetting to pay bills or failing to keep up with your own care and support. Cognitive decline certainly doesn't help either.
With a durable general power of attorney, you (as the principal) can allow someone else (your agent or attorney-in-fact) to make important life decisions for you.
For those without a durable general power of attorney, when life throws them a curveball with dementia or another sort of cognitive or physical decline, it becomes too late to grant someone else decision making power without guardianship proceeding. A durable general power of attorney prevents the need for guardianship because they last from the moment you it until your death, regardless of your incapacity.