Choosing Between A Durable Or General Power Of Attorney

No one wants to think about what will happen if they are ever unable to make decisions for themselves. Sadly, there are times when an illness or accident can render you incapacitated and someone else may have to make decisions for you. In these situations, a power of attorney is incredibly useful and effective. These legal documents can ensure that decisions are made quickly and that you receive the care you need.

There are different types of power of attorney and they serve different purposes. One of our St. Petersburg advance directive attorneys explains in greater detail below.

What is a General Power of Attorney? 

A general power of attorney gives another person the authority to handle the majority of legal and financial matters on your behalf. Many people do not realize that general powers of attorney are no longer effective if you become incapacitated. For example, you may want to give someone the authority to manage your investment property while you travel abroad. In this instance, a general power of attorney can give someone else decision-making power.

Due to the fact that general powers of attorney become ineffective upon incapacitation, they are typically used when your limitation or absence is temporary.

What is a Durable Power of Attorney? 

A durable power of attorney remains effective even if you become incapacitated. Due to this, durable powers of attorney are often the first choice for people who want a plan in place regardless of what happens. The person you choose as your agent can pay your mortgage, access retirement funds, and make medical decisions on your behalf. The ‘durable’ aspect of these documents means the provisions remain in effect when you need them the most.

In order for a power of attorney to be considered ‘durable,’ the document must specifically include a durability clause. Although state law in Florida once allowed for ‘springing’ powers of attorney, which only became effective upon incapacitation, that is no longer the case. A durable power of attorney becomes effective the moment it is drafted, so it is critical to choose someone you trust implicitly.

Legal Requirements for Powers of Attorney in Florida 

Like all legal documents, powers of attorney must meet certain requirements in order to be enforceable. As the principal, you must be at least 18 years old and mentally competent. You must also sign the document in the presence of two adult witnesses and a notary. The agent you choose must also be a competent adult and cannot act as one of the witnesses.

Our Advance Directive Lawyers in St. Petersburg Can Draft Your Power of Attorney 

At Legacy Protection Lawyers, LLP, our St. Petersburg advance directive attorney can help you determine which type of document is right for you, execute it properly so it is enforceable under the law, and give you the peace of mind you need. Call us today at 727-471-5868 or fill out our online form to schedule a consultation with one of our experienced attorneys and to get the legal advice you need.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0709/0709.html