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Monday, November 5, 2018

What is a Power of Attorney?

A Florida power of attorney is a legal document that gives one individual (the agent) the authority to act on behalf of another individual (the principal). A Florida power of attorney can grant broad or limited powers to an agent. A power of attorney often grants an agent the ability to complete financial transactions for the principal, such as selling property and purchasing stocks.

Requirements

In Florida, a power of attorney must be signed by two witnesses and the principal.  In addition, in order to create a valid power of attorney in Florida, a notary must acknowledge the principal’s signature. There also may be additional requirements depending on the type of power of attorney created, as there are three primary kinds in Florida: general power of attorney, limited power of attorney, and durable power of attorney.

General power of attorney

As noted above, there are different types of powers of attorney in Florida. One such version is the general power of attorney. A general power of attorney grants an agent the authority to perform most legal acts on behalf of a principal. However, the powers granted must be specifically listed in the document.

Limited power of attorney

A limited power of attorney gives an agent the authority to conduct a specific task. For example, a limited power of attorney may give an agent the authority to to close on a home when the principal is unavailable. A limited power of attorney can be limited to a specific role and a particular time period.

Durable power of attorney

In Florida, a non-durable power of attorney terminates when the principal becomes incapacitated. However, when a durable power of attorney is executed, the document survives the incapacity of the principal. In order to create a durable power of attorney that survives incapacity, specific language must be used in the document. A majority of Florida powers of attorney granted today are durable, as many people want their agents to continue to acting for them even in the case of incapacity.

Florida Estate Planning Attorneys

Many estate plans include the creation of a power of attorney. And whether you’re interested in creating a general, limited, or durable power of attorney, an experienced Florida estate planning attorney can help you. A well-drafted estate plan has many important benefits for you and your family. However, estate planning can be complicated, and it’s easy to overlook critical steps when attempting to navigate the process alone. Therefore, in order to protect your rights and plan for your future, please consider contacting an attorney to discuss your estate planning options. At the Law Offices of Jeffrey A. Herzog, P.A., our experienced Florida estate planning attorneys provide our clients with sophisticated estate planning guidance and assistance, including the preparation of wills, trusts, and other essential services. Please contact us for a consultation.

 




The Law Office of Jeffrey A. Herzog, P.A. assists clients in Florida, including North Pinellas County, Palm Harbor, Trinity, West Pasco County, and the surrounding areas.



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| Phone: (727) 789-4000
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| Phone: (727) 789-4000

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