![]() Where a general POA continues in force until it is intentionally revoked or an automatic revocation event occurs (e.g., the death of the principal or agent), a limited POA typically terminates upon the expiration of its term or the completion of the assigned duty.īy default, a POA ceases if the principal becomes incapacitated. You might use a limited POA to empower an agent to handle a real estate deal or to pay your bills for you for a limited time while you’re out of the country. However, Florida law does allow a POA to incorporate all “banking transactions” and “investment transactions” enumerated within the POA Act by simply including the appropriate wording referencing the statute.Ī “limited power of attorney” is restricted in time and/or scope or only applicable to a specific transaction. A general delegation to act with regard to “all matters” is not valid. In Florida, the document must identify each and every action the agent is authorized to take. This article deals primarily with the latter, but for more information on medical POAs see our article on Living Wills and Other Advance Directives in Florida.Ī “general power of attorney” grants the agent broad authority over legal and financial matters. ![]() ![]() seq.) than legal and financial POAs, which are authorized by the Florida POA Act, Fla. In Florida, medical POAs are authorized under a different statute (Fla. A specialized type of POA called a “designation of health care surrogate” (a/k/a “medical POA”) allows the agent to make healthcare decisions in the event of the principal’s incapacity. A more broadly written POA might empower the agent to handle a variety of financial matters – paying bills, entering into contracts, or buying and selling most property for the principal. Limited POAs are commonly used to facilitate financial transactions, such as the transfer of a vehicle or real estate. Or it can be very specific – limited to only a few activities and a narrow scope. A POA can delegate wide authority over a broad range of areas. What is a Power of Attorney?Ī power of attorney, or “POA,” is a formally executed document authorizing an “attorney in fact” (or, more commonly, an “agent”) to take certain actions – often but not always relating to legal and financial matters – on behalf of the person signing the document (the “principal”). Many of the issues discussed may apply in other states however, it is important to understand that powers of attorney are very state specific with rules that vary based upon state laws. Today’s article focuses on the important things to know about a Florida power of attorney. An “attorney in fact,” for instance, is appointed under a legal document known as a “power of attorney” and doesn’t need to be a lawyer at all. Technically speaking, though, an “attorney” is an individual empowered to act on behalf of someone else, and it doesn’t always have to refer to a lawyer. We tend to think of the word “attorney” as a synonym for “lawyer.” And, for the most part, that’s usually the case.
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