What is a Durable Power of Attorney?
A Durable Power of Attorney is a legal document that authorized someone to perform legal and financial decision on behalf of another person. The person signing a Durable Power of Attorney is referred to as the “Principal” and the person action on behalf of the “Principal” is called the “attorney-in-fact” or agent.
The Principal of a Durable Power of Attorney/Maker can give their Agent full powers or limited powers to handle all aspect of their personal and financial affairs. These powers are granted immediately and does not need court approval.
What legal power is created by a Durable Power of Attorney?
Examples of power given to agents in a Durable Power of Attorney are: the ability to perform all financial transactions, the ability to discuss Social Security, insurance, and retirement benefits with various respective institutions, the ability to buy and sell real property, the ability to sue on behalf of the Principal and all legal duties and functions that the Principal would be able to perform in their individual capacity.
How to create or draft a legal power of attorney (Durable Power of Attorney)?
Under Florida law, Durable Power of Attorney have specific language and execution requirement for it to be legally accepted at banks and most other financial institutions. The document must be signed by the Principal in the presences of a notary and two witnesses. Creation of a Durable Power of Attorney is state specific because laws vary from state to state. Most times, forms or template on google are generic and does not meet Florida law standard for a valid Power of Attorney. Our office can help with preparing and drafting all estate planning documents including creating a valid Durable Power of Attorney. We have express service available to prepare these forms within 24-hours or usually same day. We can also coordinate and arrange for a notary and the witnesses to meet the Principal at their desired location if transportation or mobility is an issue. If you need to create a power of attorney, we can help, call our office at (407) 413-9913 and request more information regarding this service.