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
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.
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.
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
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.
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
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.
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