A power of attorney form is arguably the most important document every adult must get. This is because it confers on another the rights to act on your behalf on special matters.
There is a rife myth that the power of attorney form trumps your will or trust. Students of this school of thought say that the agent can limit the actions of your will’s executor. However, that isn’t the case here. If you want to find more about Florida power of attorney, why you need one, the requirements and the types, read on.
What is a Florida Power of Attorney?
A power of attorney form Florida includes several types such as the Florida durable poa, the Florida medical power of attorney. It hands an individual the rights to appoint another individual, business or organization legal permission to act on his/her behalf on general interests or specific ones.
The one who appoints one to act on his/her behalf is known as the principal while the one who the principal confers these rights upon is described as the agent or attorney-in-fact. Most often than not, the agent is usually an individual or two, as opposed to an organization or business.
A power of attorney can be non-durable or durable, specific or non-specific. The other types of power of attorney include limited, springing and non-springing power of attorney. However, the Florida Uniform Power of Attorney Act does not allow a non-springing power of attorney.
The principal of the power of attorney determines under what specific matters the agent acts on his/her behalf.
Should the principals be involved in a financial transaction with an entity in Florida or live in Florida, it is recommended that they create a power of attorney under the requirements of the laws of the State.
Although that of other states is tenable in Florida, there is a greater likelihood of running into problems when working with an out-of-state form in Florida, especially when the recipient is not familiar with the contents of the form.
Why Would You Use a Florida Power of Attorney Form?
There are a host of reasons why an individual might want to obtain a Florida power of attorney form. In the event that your mental health begins to fail or you grow too old or weak to handle certain matters or decisions, you would need someone to act on your behalf. A power of attorney form is viable in situations like these.
However, a Florida power of attorney form isn’t only designed for a sick or elderly person. A healthy individual might also need someone to represent him/her in his/her business transactions.
If the principal is a business owner, occupying management positions at a company or another venture, he/she can appoint an agent capable of running the business, paying out employees and attending certain business meetings.
As it is with power of attorney forms elsewhere, the principal must indicate on the document what tasks and matters they need the agent to act on. The principal must also stipulate in clear and concise terms what the powers of the agent are or are not.
The principal must also note that the laws of the state entitle the agent to a reasonable sum of money as compensation. To make matters clear from the get-go, the principal should also write in concise terms the exact figures of this compensation. This helps to reduce the likelihood of any problems in the future.
What Are The Power of Attorney Requirements in Florida?
For a power of attorney form Florida to be valid and recognized by the law, certain requirements must be fulfilled. These are some of those requirements.
- It must comply with the laws of the state. These laws are listed under Chapter 709 of the Florida Statutes.
- It must also contain the names of the principal and agent, the powers granted to the agent, date the document was signed and becomes effective, and the exact responsibilities of the agent or attorney-in-fact.
- The agent must not be a minor. In other words, he/she must be above 18 years of age. If the agent is an institution or business organization, it must be within the confines of the state and must be legally permitted to conduct businesses in the state.
- The principal must sign the specific, non-durable or durable power of attorney form Florida in front of two or more witnesses. In addition, the witnesses must append their signatures and the document notarized. If the principal is deemed unable to sign, the notary public can sign on the power of attorney form on his/her behalf.
- Finally, the original copy of the document may be given to the clerk of the court to be stored away as public record.
As for requirements of the content, there are no clear-cut requirements. However, it is stated that a durable power of attorney form Florida must contain the clause: “This durable power of attorney is not terminated by subsequent incapacity of the principal except as provided in Chapter 709, Florida Statutes.”
Types of Power of Attorney in Florida
There are different types of power of attorney operational in Florida. They include General power of attorney, limited or special power of attorney, incapacity or incapacitated power of attorney and durable power of attorney.
General power of attorney:
A general power of attorney Florida hands the agent the legal permission to assume the legal powers of the principal. The agent you appoint is responsible for representing you on all fronts, and all legal and financial matters.
Incapacity or incapacitated power of attorney:
According to the laws of the state, incapacity is the inability of a person to take necessary actions required to obtain, administer and dispose real, personal, business properties, as well as dispose all benefits that accrue to him/her.
Springing power of attorney:
This power of attorney does not become effective until you become incapacitated.
Durable power of attorney:
A durable power of attorney form Florida is one that continues even after the incapacitation of the principal. Here, your incapacitation does not invalidate the power of attorney.
Limited or special power of attorney:
This power of attorney limits the powers of the agent to specific tasks or matters. In other words, the agent can act on your behalf only on particular matters as defined or stipulated in the Florida power of attorney form.
Parent power of attorney:
This isn’t common in other states but is a thing in Florida. Here, the parents are allowed to give decision making rights over a child still below age 18 to a guardian who can make decisions on their behalf in the event that there is a medical emergency. This is commonly used in the absence of the parent.
Medical power of attorney:
Also known as Designation of Health care surrogate in Florida, this power of attorney confers on the agent the rights to make health decisions on behalf of the principal when he/she is deemed not fit to make healthcare decisions for him/herself.
Real estate power of attorney:
This power of attorney grants you the rights to appoint someone to sell or buy real estate properties on your behalf.
Other powers of attorney Florida include tax power of attorney, vehicle power of attorney, among others.
How to Get A Power of Attorney in Florida?
Asides the statute that specifies that a durable power of attorney form contains the phrase, “This durable power of attorney is not terminated by subsequent incapacity of the principal except as provided in Chapter 709, Florida Statutes”, there are no special regulations concerning the contents of a power of attorney form.
Rather than splurge cash hiring an attorney to help draw up a power of attorney form, a principal can download a template or fillable form online tallying with the type of power of attorney form they want to use
It has been established that a power of attorney form isn’t to be drawn only by an ailing, incapacitated individual. Indeed, it is a powerful legal document everyone is recommended to draft.
If you do not have a clue as to how to draft one, you can download any of CocoSign’s power of attorney templates for use. There are several fillable forms available on the site including general, real estate and limited power of attorney forms, among others.
CocoSign represents a wide collection of legal templates covering all types of leases, contracts and agreements for personal and commercial use. All legal templates available on CocoSign shall not be considered as attorney-client advice. Meanwhile, CocoSign shall not be responsible for the examination or evaluation of reviews, recommendations, services, etc. posted by parties other than CocoSign itself on its platform.