“Power of attorney” is a term heard quite frequently in the realm of estate planning and administration in Florida. But many do not know the exact meaning of the phrase.
In reality, “Power of Attorney” in Florida can mean a number of different things:
- Technically, “a Power of Attorney is a legal document delegating authority from one person to another.
- In the document, the creator of the Power of Attorney (called the “principal“) grants someone the right to act on the principal’s behalf.
- The person receiving this right is called the “agent.”
- What kind of authority is granted depends on the specific language of the Power of Attorney.
- A person giving a Power of Attorney may make it very broad or may limit it to certain specific acts.
Typically, there are three types of Power of Attorney used in Florida:
- Limited Power of Attorney: A “Limited Power of Attorney” gives the agent authority to conduct a specific act. For example, a person might use a Limited Power of Attorney to sell a home in another state by delegating authority to another person to handle the transaction locally through a “limited power of attorney.”
- General Power of Attorney: A “General Power of Attorney” typically gives the agent verybroad powers to perform any legal act on behalf of the principal. However, Florida lawrequires that a specific list of the types of activities the agent is authorized to perform must be included in the final signed document.
- Durable Power of Attorney: A “Durable Power of Attorney” remains effective even if a person becomes incapacitated. However, a Durable Power of Attorney must contain special wording that provides the power of the agent survives the incapacity of the principal.
Any West Palm Beach Probate litigation attorney knows that choosing and constructing the right power of attorney document in Florida is crucial in planning your estate. Do you have any personal experiences with Power of Attorney in Florida? If so, leave a comment below.
See http://www.pankauskilawfirm.com/ for videos and information on Power of Attorney in Florida, Florida Probate Law, Estate Planning, and Estate Administration in Florida.