Florida Power of Attorney

Power of Attorney

A comprehensive estate plan doesn’t just prepare for what takes place after you pass away, but will also prepare for the possibility that you might become incapacitated (either mentally and/or physically). Just because you suffer a severe injury or illness that renders you unable to make decisions does not mean that your affairs will stop. Bills and taxes will still need to be paid, investments managed, lawsuits defended, and more.

In order to ensure that your affairs are handled when you cannot do so yourself, you should always have a valid power of attorney document as part of your estate plan. At The Legacy Law Firm, our Florida estate planning lawyers can help you plan for your future.

Durable Power of Attorney

A durable power of attorney stays effective after you become incapacitated. This document gives another individual (your “agent”) the authority to access your accounts and make legal and financial decisions on your behalf. In Florida, your agent must be at least 18 years of age, or it can be a business with trust powers.

You should always draft the terms of your power of attorney to fit your specific situation. You must execute the document in a certain manner in order for it to give the intended authority. Some important aspects of a power of attorney that are important to remember are:

• You must have the mental capacity to draft a power of attorney, which means if you become incapacitated, it is too late to designate a power of attorney
• If you do not have a power of attorney and need assistance, the court will need to appoint a guardian, and guardianship cases can often be contentious and lengthy
• Your power of attorney does not last after your death, so it is not a substitute for a will that names a personal representative

It is best for you and your family if you have a power of attorney prepared. It can prevent disruption of your finances and save your family stress.

Selecting Your Power of Attorney

It is important to carefully consider who you will select for your power of attorney. In many situations, people choose their spouse or an adult child, though this might not always be the best option. You should consider many factors, including:

• The person’s knowledge of your affairs
• Their ability to handle complex financial and legal matters
• Their willingness to take on the responsibility
• Whether they may be incapacitated (such as by a mental condition) in the near future

You should regularly review your power of attorney to determine whether it should be updated.

Consult with a Florida Power of Attorney Lawyer as Soon as Possible

A power of attorney is a critical part of any estate plan, no matter how young or old you are. The Legacy Law Firm regularly assists clients with selecting and designating a power of attorney, as well as with other estate plan components. Call 954-999-9683. or contact us online to learn more today.