Your Durable Power of Attorney

Planning for your incapacity is an important part of getting your legal affairs in order. In the event you became incapacitated, you need to make sure the appropriate person can make your legal and healthcare decisions for you. Perhaps the most important way to prepare for your incapacity involves creating an effective durable power of attorney.

A durable power of attorney designates a trusted person, such as a spouse or children, to make your legal and financial decisions. This document can give a trusted individual the power to pay your bills, manage your property, protect your assets and much more. We do not always know how a power of attorney will be helpful, but we know it is invaluable in the correct situation. Without a power of attorney, a family will typically need a court-ordered guardianship to manage affairs. A typical guardianship is expensive, time-consuming and avoidable in most situations.

Importantly, not all powers of attorney are created equally. The power of attorney rules are extremely complicated and we frequently deal with families who have planned poorly, sometimes through no fault of their own. To assist our families in making the correct decisions, we offer the following general guidelines regarding your durable power of attorney:

Powers of attorney should be updated every 5-10 years. One reason, among others, is that banks and other financial institutions do not like powers of attorney and are more likely to honor a newer document.

Do NOT get your power of attorney from the internet or other store-bought forms. Florida law is extremely complicated and you need a good estate planning attorney to create your document. We frequently see form powers of attorney that are ineffective for a variety of reasons.

Name the correct person as your agent. A power of attorney is the power to steal. Of course, the power of attorney cannot legally steal from you but an untrustworthy agent can create a lot of problems.