A Power of Attorney is a grant of authority by one person (the "Principal") to another person (the "Attorney-in-fact") to act on the Principal's behalf. The grant of a power of attorney is very useful as it allows one to provide for the management of his or her affairs in the event of incapacity, incompetency or unavailability.
A Durable Power of Attorney (DPOA) is established for the specific purpose of allowing you to name an individual to act for you when you become incompetent or incapacitated. Several years ago, the Florida legislature made major changes in the law regarding Florida DPOAs. The law previously allowed for a “springing” provision so that the DPOA could not be used until the Principal became incompetent or incapacitated - - that is no longer the case. It’s important that the document be properly drafted to make sure it will serve your intended purpose.
The DPOA is an important document which, together with your remaining estate planning documents, helps to insure a smooth and cost effective administration of your affairs should you become incompetent or incapacitated.