If I give someone power of attorney do I forfeit my own rights to make decisions?
If you give somebody a power of attorney, you’re designating an agent to make decisions for you for financial reasons. However, that doesn’t give away your authority to have control over your assets. You still maintain that authority to have that control. Your agent, however, can make decisions for you and do not have to come back to you and ask you for the authority to act on your behalf. That durable power of attorney nowadays is effective upon signing, which means that agent can automatically act for you. However, you are not giving up your rights to act for yourself.