Florida Estate Planning Lawyer Blog
What is a Florida power of attorney?
A Florida power of attorney is a legal document that delegates the authority for one or more persons to act on behalf of the person who creates the Florida power of attorney. The person who creates, or signs a power of attorney is the principal. The principal of a Florida Power of attorney grants one or more agents the right to act on their behalf as an agent. The document will describe the authority that the agent or agents have. A Florida Power of attorney can be for a limited purpose or grant broad powers to handle a variety of financial base transactions.
What is a Florida power of attorney be used for?
In Florida, a power of attorney often grants the ability to complete transactions on behalf of the principal. The powers may include the right to sell a home, vehicle, land, or other property. A power of attorney often grants an agent the right to buy or sell stocks, access a bank account, enter into contracts, or other financial transactions on behalf of the principal. A power of attorney can be broad and grant others the rights to do almost any legal act that the principal of a power of attorney could do, including the ability to create trusts and make gifts.
Where may a person obtain a Florida power of attorney?
A Florida power of attorney is a powerful legal document. The document grants powers to act in someone else’s legal capacity. A Florida power of attorney should be created by a Florida lawyer to meet the individual’s specific circumstances. It is crucial not to grant every power possible as many of the powers that can be given in a Florida power of attorney can be used to harm the individual or circumvent their desires. Many pre-printed forms may fail to grant enough powers and some grant powers that can be dangerous.
Does a Florida power of attorney need witnesses or a notary?
A Florida power of attorney must be signed by the principal and by two witnesses who are present and observe the principal’s signature. Also, to create a valid Florida power of attorney, a notary must acknowledge the principal’s signature. A power of attorney created in another state or by the military must comply with the laws where or for which it was created.
What is a “principal” in a Florida power of attorney?
The “principal” is the maker or the person who is creating a power of attorney. The principal is the person who is delegating authority to one or more agents to act on the principal’s behalf.
What is an “agent” in a Florida power of attorney?
The “agent” is the recipient the right to act on behalf of the principal in a power of attorney. The agent is sometimes referred to as an “attorney-in-fact.” The agent can use the term “attorney-in-fact” or “agent” when singing for the principal and does not make or signify that the person is a lawyer.
What is a “Florida limited power of attorney”?
A “Florida limited power of attorney” gives the agent authority to conduct a specific act or limited acts. Sometimes a spouse is given the authority to close on a home when the principal is unavailable. While many types of powers of attorney can grant this authority, often when there is a specific need, a Florida limited power of attorney can be limited to a particular role, or for a limited period of time.
What is a “Florida general power of attorney”?
A “Florida general power of attorney” typically grants an agent extensive powers to perform most legal acts on behalf of the principal. Many of these powers are required to be individually listed in the document.
What is a “Florida durable power of attorney”?
A non-durable Florida power of attorney terminates if the principal becomes incapacitated. Only a “Florida durable power of attorney” survives incapacity. A Florida durable power of attorney remains valid and can continue to be used by an agent in most circumstances even if a person becomes incapacitated. A durable power of attorney must contain particular wording that provides the power survives the incapacity of the principal. Most powers of attorney granted today are durable and as such the principal should be very careful regarding the powers granted as well as to whom is selected as an agent.
Must a person be competent to sign a Florida power of attorney?
Yes and No. At the time a power of attorney is signed, the principal must understand what he or she is signing, the effect of a power of attorney, who will be granted the powers, and what property may be affected.
Who may serve as an agent to a Florida power of attorney?
Any competent person 18 years of age or older may serve as an agent on a Florida power of attorney. Careful attention should be paid to the agents’ reliability and trustworthiness.
What happens if a power of attorney was not created under Florida’s laws?
If a power of attorney is validly executed under another state’s laws, then it may be used in Florida, but its use will be subject to Florida’s Power of Attorney Act and other state laws. The agent may act only as authorized by Florida law and under the terms of a valid power of attorney. If the Power of attorney is not executed with the same requirements as a Florida power of attorney the out of state power of attorney may not be used for real estate transactions in Florida, and may be limited to banking and other non-real estate transactions. Someone may request an opinion of counsel that the power of attorney was executed correctly under the laws of the other state before accepting the power of attorney.
To create a valid Florida Power of Attorney contact a Jacksonville estate planning lawyer at the Law Office of David M. Goldman PLLC.