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“. What specific actsthe Power of Attorney gives the agent the authority to conduct depends on the particular language of the Power of Attorney. A principal can make a POA very broad or may limit it to certain specific acts.
What, excatly, makes a Power of Attorney “Durable”?
- A Florida Power of Attorney will terminate if the principal becomes incapacitated in anyway, unless it created as a “Durable Power of Attorney.”
- A Durable Power of Attorney remains effective even if a person becomes incapacitated.
- However, a Durable Power of Attorney in Florida must contain special wording that provides the agent’s authority is intended to survive the incapacity of the principal.
- Further, certain powers must be specifically listed in the POA by the principal. A few of the powers that must be specified include: creating a living trust; amending, modifying, or terminating a trust created by the principal; transferring gifts; and adding or modifiying a beneficiary designation.
Is your Florida Power of Attorney durable? Palm Beach estate planning lawyers can tell you that, fortunately, most Power of Attorney documents created in Florida today ARE durable. But it is always wise to double check all of your estate planning documents with a trusted professional.
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