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Florida Durable Powers of Attorney: What You Need to Know

Uncategorized Jul 14, 2016
post about Florida Durable Powers of Attorney: What You Need to Know

What is a Florida Durable Power of Attorney? Why is it an important part of an estate plan Palm Beach? What are the benefits of having a Florida Power of Attorney?Do you understand the different between a durable power of attorney and a standard power of attorney? Chapter 709 of the Florida Statutes contains very important information regarding Durable Powers of Attorney and your Boca Raton estate.

Probate Litigation and Powers of Attorney(POA)in Florida

  • What is a Florida Power of Attorney?
  • A Florida Power of Attorney is a legal document granting certain 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 his behalf.
  • The person who is acting for the principal is called his “agent”.
  • A principal can make a POA very broad or may limit it to certain specific acts.
  • Florida estate lawyers know that a power of attorney is a voluntary contract.
  • Can the elderly sign a power of attorney if they are already incompetent?
  • Florida probate attorneys know there are significant issues with signing a power of attorney when you lack the capacity to do so.
  • However, a durable power of attorney may survive incompetency.
  • Ask any estate planning lawyer in Palm Beach Gardens and they will tell you that adurable power of attorney is often a very important part of someone’s estate plan in Florida.
  • Probate litigators Orlando know that wills, revocable trusts, and health care documents are also very important.
  • An estate planning lawyer Delray Beach will tell you that a Power of Attorney in the wrong hands can be the most dangerous instrument in the world.
  • Why is this? It can shift money, change names on accounts, deed property, and/or transfer away millions and millions of dollars.
  • Most POA’s generally don’t limit the dollar amount that your POA or agent can transfer, use, change, or alter.

Chapter 709 of the Florida Statutes