Tampa Power of Attorney Lawyers

Most of us don’t want to think of the possibility of eventual incapacitation. That said, establishing a power of attorney now can potentially save you and your family a great deal of headaches in the future. If you’re looking to create a power of attorney, please don’t hesitate to contact the skilled Tampa estate planning lawyers here at Tampa Law Group for help.

Power of Attorney Lawyers: Here for Your Peace of Mind

Incapacity can be short-term or more permanent, though either can cause certain complex issues to arise. Without a plan in place for incapacitation, family members can become overwhelmed and may wonder whether they are making decisions on your behalf according to your wishes.

Whether it relates to financial or health care decisions, animosity, and conflict can arise between family members because each person has a different viewpoint as to what your wishes would be. Fortunately, this can all be avoided by creating one or more powers of attorney. For assistance in doing so, please don’t hesitate to speak with our Tampa power of attorney lawyers today.

How Do Powers of Attorney Work?

A power of attorney grants one person, known as the agent or attorney-in-fact, the authority to act on behalf of another person, known as the principal. This legal relationship can encompass a wide range of actions, depending on the type of POA executed. The principal determines the scope of powers granted to the agent, which can include managing financial affairs, making healthcare decisions, or handling specific transactions.

The key components of a POA include:

• The Principal: The individual who creates the POA, empowering another to act on their behalf.
• The Agent or Attorney-in-Fact: The person authorized by the principal to act in their stead. It’s crucial to choose a trustworthy individual, as they will have significant power over your affairs.
• The Powers Granted: These can be broad or limited, depending on the principal’s needs and wishes. Specific powers must be clearly outlined in the document.
• The Duration: Some POAs are effective immediately upon signing, while others are “springing,” meaning they come into effect only upon the occurrence of a specific event, usually the principal’s incapacitation.
• Legality and Execution: The POA must be executed according to Florida law, including being signed by the principal, witnessed, and notarized. Florida statutes, such as Chapter 709 of the Florida Statutes, provide specific requirements for the execution of POAs.

In Florida, unless the POA specifically states otherwise, it is considered durable, meaning it remains in effect if the principal becomes incapacitated. This is crucial for ensuring that the agent can continue to act on the principal’s behalf without the need for court intervention.

Types of Powers of Attorney

As previously mentioned, there are several types of powers of attorney, each serving different purposes. A brief outline of some of the most common types of powers of attorney is as follows:

• General Power of Attorney: Grants broad powers to the agent in matters relating to financial affairs, business transactions, and other general matters.
• Limited or Special Power of Attorney: Allows the principal to grant only specific powers to the agent for a limited time or purpose, such as selling property.
• Durable Power of Attorney: Remains in effect even if the principal becomes incapacitated, allowing the agent to manage all affairs outlined in the document.
• Health Care Power of Attorney: Enables the agent to make healthcare decisions on behalf of the principal, should they become unable to do so themselves.
• Springing Power of Attorney: Becomes effective only under circumstances defined in the document, typically the incapacitation of the principal.

It’s important to note that powers of attorney are governed by state law, and Florida has specific requirements that must be met for a POA to be valid. For example, Florida law requires that a durable power of attorney must be in writing, contain certain statutory warnings, be executed with the same formalities required for the conveyance of real property, and be witnessed by two individuals and notarized.

Contact Our Florida Power of Attorney Lawyers Today

Ultimately, creating a power of attorney that best suits your needs can help give you and your family the peace of mind you deserve. For help drafting a valid and enforceable power of attorney, simply contact Tampa Law Group today.