On behalf of The Law Office of Wickersham and Bowers posted in Estate Planning on Monday September 23rd, 2024.
A Power of Attorney (POA) refers to a document that legally allows someone else the right to make decisions on your behalf. A POA can be crucial if you need someone to handle your finances or healthcare decisions. Also, with a POA, you can ensure that your wishes are followed in case you are incapacitated.
Types of Power of Attorney in Florida
Florida recognizes several types of POAs, each serving different purposes:
- General Power of Attorney: This type allows someone (called the agent) to manage your financial matters. They can pay bills, manage accounts, or handle business transactions.
- Durable Power of Attorney: For a durable POA to be effective in Florida, the document must clearly state, “This durable power of attorney is not terminated by the principal’s incapacity.”
- Healthcare Surrogate: In Florida, the healthcare version of a POA is called a “Designation of Health Care Surrogate.” This document allows your agent to make medical decisions for you if you cannot make them yourself.
Key Requirements for a Valid POA
To ensure that your POA is valid in Florida, it must meet several specific requirements, including:
- You and your agent must be at least 18 years old and of sound mind.
- Florida law also requires that the POA be signed by you (the principal) in front of two witnesses and notarized.
You should choose your witnesses carefully. They should be “disinterested,” meaning they are not family members, agents, or people who stand to inherit from your estate.
How to Create Your POA
- Draft Your Document: You can create a POA using an attorney, estate planning software, or by downloading a template. Make sure the document clearly outlines the agent’s powers and responsibilities.
- Sign in the Presence of Witnesses: You, your witnesses, and a notary must be present to sign the POA. If you are unable to sign the document yourself, the notary may do it for you.
- Store the Document Safely: Keep the original document in a safe place and let your agent know where it is. You should also give copies to any relevant parties, like healthcare providers or financial institutions.
Get Personalized Guidance
Creating a valid Power of Attorney in Florida can be straightforward if you follow the correct steps. At Wickersham & Bowers, we are here to help you navigate the process and ensure everything is done correctly. Contact us today for personalized assistance with your estate planning needs.
