WHAT IS A FLORIDA DURABLE POWER OF ATTORNEY IN FLORIDA
A Florida durable power of attorney (POA) is a legal document that authorizes your Agent (the person or institution you choose) to handle your financial affairs and personal business. The powers you grant to your Agent should be specific. Chapter 709, Florida Statutes, governs POA’s. A Durable Power Of Attorney is an important tool in any estate plan. Your Agent should be someone you trust implicitly.
The POA becomes null and void upon the death of the Principal.
WHO MAY SERVE AS AN AGENT
An Agent may be any natural, competent person who is 18 years of age or older. A financial institution that has trust powers, a place of business in Florida, and the authority to conduct trust business in Florida can also be an Agent.
WHAT MAKES A VALID DURABLE POWER OF ATTORNEY
The principal must sign the POA in the presence of 2 witnesses and a notary to be valid and enforceable.
The POA will be immediately effective upon proper execution. In the 2011 revision of the statute, the Florida legislature nullified the “springing” POA. Your POA should provide a specific grant of powers to your Agent. Under the 2011 revision of Chapter 709, the legislature provided that some powers granted by the Principal now require the Principal’s initials to activate the Agent’s specific authority to act. Without the Principal’s initials by each specific grant of power, the Agent will lack authority. One example of a power requiring the Principal’s initials is the creation of a trust.
If you want strong, experienced counsel to draft your Florida Durable Power Of Attorney as part of your estate plan, please feel free to call or e-mail The Fuller Firm, LLC. Kevin A. Fuller will schedule a free phone or videoconference consultation. I will be happy to answer your questions and advise you on the best way to proceed.