The term “Power of Attorney” has been fascinating for all of us. Most of us first heard of the term in one or the other movie where inadvertently the good-natured protagonist drew up a power of attorney (POA) in the name of one of the relatives, and the plot later revealed that the relative was evil enough to use this document to undercut the protagonist. So, what exactly is power of attorney?
Power of attorney is a legal document that, for a specified period of time transfers the powers from the principal (one who draws the POA) to the agent (in whose name the POA is drawn). It is signed in the presence of at least two witnesses and a notary in the state of Florida.
However, in the scenario where the principal is no longer fit (physically or mentally or both), the POA ends. This is where the Florida durable power of attorney comes into play.
What is a Florida Durable Power of Attorney?
The state of Florida has made a special provision for the POA Florida in case the principal is incapacitated. Known as the durable power of attorney (DPOA), it postulates that a power of attorney will survive even in case of the incapacity of the principal, which is quite different from the Florida medical poa.
Under DPOA, the authorities and power entrusted to the agent by the principal extend over to the principal’s assets (acquired currently or after). The decisions taken by the agent binds both the principal and his/her successors. The durable power of attorney Florida stands terminated if any of the following conditions arises:
- Upon the death of the principal
- Termination of the DPOA by the principal
- The pending legal determination of the incapacitated condition of the principal along with guardianship determination
- Upon completion of the objective for which the DPOA was drawn
- Expiration of term period of DPOA
Try the durable power of attorney Florida template!
Want to create a durable power of attorney for your Florida properties? Our 100% legal template is here to help! We've made it simple for you to draft the right document for your situation.
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Why Would You Use a Florida Durable Power of Attorney Form?
Having a Florida durable power of attorney form will help you in ascertaining the ways the agent can act concerning the finances and other areas as listed by the principal. The form records all the minute details as may be required.
You can download the Florida durable power of attorney form 2021 from CocoSign in any of the formats (PDF, Word, or ODT) suitable for you. Save the form on your desktop/laptop/tablet.
Here is how the form outlines the necessary information.
- Mentions the name of the County – In the form, the principal is required to mention the county’s name where the DPOA will be executed.
- Identifies the involved parties
- List of powers that the principal can choose from – DPOA form lists down the powers, in clear and concise wordings, from which the principal can choose. He/She can either restrict the powers of the agent by crossing out the statement and then writing the initials on the margin or can choose not to grant a power entirely.
- Proves the principal’s authorization – The completed form is then signed by the Principal, Agent, and the two witnesses. The last part of the form can only be completed by the notary public overseeing the signing by all parties involved, along with the witnesses. Once the notary public signs, the form is considered notarized.
How to Get A Durable Power of Attorney in Florida?
To draw a durable power of attorney Florida form, the first and foremost thing to be done is the selection of a trusted agent. The next part of the process is to outline the scope of the powers that the agent will be entrusted with. The last step is to sign the DPOA in front of two witnesses and the notary public.
Try the durable power of attorney Florida template!
Want to create a durable power of attorney for your Florida properties? Our 100% legal template is here to help! We've made it simple for you to draft the right document for your situation.
Click the buttons below to download this template!
FAQs
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What are the requirements for the principal to create a DPOA?
To formulate a DPOA, a Principal must have a clear understanding of the powers that are being granted to the agent. If the principal lacks the required mental capacity, then the DPOA cannot be drawn.
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What powers can be granted to the agent under DPOA?
Under the Florida Law, the DPOA grants the Agent with following powers:
- Expanded trust
- Expanded gift powers
- Trust modification powers
- Power to provide for the right to survivorship
- The naming of beneficiaries effective upon the principal’s death
- Power to apply for government and public assistance benefits
- Management powers
- Tax powers
- Health care powers
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What does it mean by the agent’s liability as a fiduciary?
Florida Law considers the duty of the Agent to be Fiduciary, meaning the relation between the principal and the agent is one of trust. If that trust is breached or broken, there is a provision to try the agent both civilly and criminally.
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What are the things an agent cannot do under DPOA?
Even if the principal extends the authorization under DPOA, an agent cannot do certain things such as:
- The agent cannot practice law unless s/he is a licensed member of the Florida Bar
- Cannot sign a statement on behalf of the principal declaring that the principal knows something confidential
- Cannot vote in an election
- Cannot draw or revoke a will for the principal
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Can an agent sell or rent out the property belonging to the principal?
Yes. Under DPOA, an agent can sell/rent/lease any real estate, for any term, on behalf of the principal. However, if the principal is married, the agent has to seek the spouse’s authorization as well.
If you are planning to create a DPOA or any other kind of power of attorney, visit CocoSign and download the requisite form. CocoSign has a range of templates for a durable power of attorney form Florida and other kinds of power of attorney form.
DOCUMENT PREVIEW
- To receive and deposit funds in any financial institution, and to withdraw funds by check or otherwise to pay for goods, services, and any other personal and business expenses for my benefit. If necessary to effect my attorney-in-fact’s powers, my attorney-in-fact is authorized to execute any document required to be signed by such banking institution.
________ SAFE DEPOSIT BOX - To have access at any time or times to any safe-deposit box rented by me or to which I may have access, wheresoever located, including drilling, if necessary, and to remove all or any part of the contents thereof, and to surrender or relinquish said safe-deposit box; and any institution in which any such safe-deposit box may be located shall not incur any liability to me or my estate as a result of permitting my attorney-in-fact to exercise this power.
________ LENDING OR BORROWING - To make loans in my name; to borrow money in my name, individually or jointly with others; to give promissory notes or other obligations therefor; and to deposit or mortgage as collateral or for security for the payment thereof any or all of my securities, real estate, personal property, or other property of whatever nature and wherever situated, held by me personally or in trust for my benefit.
________ GOVERNMENT BENEFITS - To apply for and receive any government benefits for which I may be eligible or become eligible, including but not limited to, Social Security, Medicare and Medicaid.
________ RETIREMENT PLAN - To contribute to, select payment option of, roll-over, and receive benefits of any retirement plan or IRA I may own, except my attorney-in-fact shall not have power to change the beneficiary of any of my retirement plans or IRAs.
________ TAXES - To complete and sign any local, state and federal tax returns on my behalf, pay any taxes and assessments due and receive credits and refunds owed to me and to sign any tax agency documents necessary to effectuate these powers.
________ INSURANCE - To purchase, pay premiums and make claims on life, health, automobile and homeowners' insurance on my behalf, except my attorney-in-fact shall not have the power to cash in or change the beneficiary of any life insurance policy.
________ REAL ESTATE
- To acquire, purchase, exchange, lease, grant options to sell, and sell and convey real property, or any interests therein, on such terms and conditions, including credit arrangements, as my attorney-in-fact shall deem proper; to execute, acknowledge and deliver, under seal or otherwise, any and all assignments, transfers, deeds, papers, documents or instruments which my attorney-in-fact shall deem necessary in connection therewith.
________ PERSONAL PROPERTY - To acquire, purchase, exchange, lease, grant options to sell, and sell and convey personal property, or any interests therein, on such terms and conditions, including credit arrangements, as my attorney-in-fact shall deem proper; to execute, acknowledge and deliver, under seal or otherwise, any and all assignments, transfers, titles, papers, documents or instruments which my attorney-in-fact shall deem necessary in connection therewith; to purchase, sell or otherwise dispose of, assign, transfer and convey shares of stock, bonds, securities and other personal property now or hereafter belonging to me, whether standing in my name or otherwise, and wherever situated.
________ POWER TO MANAGE PROPERTY- To maintain, repair, improve, invest, manage, insure, rent, lease, encumber, and in any manner deal with any real or personal property, tangible or intangible, or any interests therein, that I now own or may hereafter acquire, in my name and for my benefit, upon such terms and conditions as my attorney-in-fact shall deem proper.
________ GIFTS - To make gifts, grants, or other transfers (including the forgiveness of indebtedness and the completion of any charitable pledges I may have made) without consideration, either outright or in trust to such person(s) (including my attorney-in-fact hereunder) or organizations as my attorney-in-fact shall select, including, without limitation, the following actions: (a) transfer by gift in advancement of a bequest or devise to beneficiaries under my will or in the absence of a will to my spouse and descendants in whatever degree; and (b) release of any life interest, or waiver, renunciation, disclaimer, or declination of any gift to me by will, deed, or trust
________ LEGAL ADVICE AND PROCEEDINGS - To obtain and pay for legal advice, to initiate or defend legal and administrative proceedings on my behalf, including actions against third parties who refuse, without cause, to honor this instrument.
SPECIAL INSTRUCTIONS: On the following lines are any special instructions limiting or extending the powers I give to my attorney-in-fact (Write “None” if no additional instructions are given):
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