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The florida durable power of attorney form is used by a person seeking to choose someone else to handle financial transactions on their behalf this is common for senior citizens that elect family members to handle their banking taxes and real estate.
Financial power of attorney florida form. They are categorized by the legal purpose of the. The florida general power of attorney form allows for the same rights for an agent as the durable which is to act in the principal s best interest for any financial matter legal within the state. Alzheimer s disease dementia. The term durable refers to the document remaining valid if the principal should become incapacitated ex.
Below are different types of power of attorney documents valid in florida. Many people use this type of form when they know they are going to be away or they want to plan for a time when they may be incapacitated. At such a point the. The powers allowed under chapter 709 2014 revised statutes for the principal to grant ultimate power over financial medical care parental guardianship over a minor child vehicle and tax related issues.
Unlike many other states florida does not allow a springing power of attorney and does not provide an authorized form for a financial power of attorney. A power of attorney created under this chapter shall be durable unless it expressly provides that it is terminated by the incapacity of the principal. Florida durable power of attorney form represents a way in which an individual or principal can have someone act for them with regard to their finances and other areas of life the durable type of poa stays in effect even if the principal ends up in a situation where he or she cannot think or act or communicate. However a durable power of attorney executed before oct.
1 2011 that is contingent on the incapacity of the principal sometimes called a springing power remains valid but is not effective until the principal s incapacity has been certified by a. The form set out in o c g a. The financial power of attorney requirements in florida are found in the florida power of attorney act which begins with section 709 2101 of the florida statutes. The florida power of attorney templates may be downloaded for the use of a principal to elect anyone of their liking to represent their best interests as their agent.
When is a power of attorney effective. The power of attorney is effective as soon as the principal signs it. The florida durable financial power of attorney form pursuant to statute 709 08 allows a principal to hand over to the agent specific monetary rights these rights under the durable provision in the state law allows for the agent to remain making financial decisions if the principal should become incapacitated. Power of attorney poa documents are legal papers that state that a person a group of people a financial institution or a business known as agent or attorney in fact has the legal capacity to act as a proxy for a person known as the principal.
The difference lies in the fact that the general form does not remain valid if the principal loses decisional capacity.
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