Durable Power of Attorney | Orlando
If I choose a durable power of attorney, how would my incapacity be determined?
If I give my agent immediate powers, do I forfeit all rights to make financial decisions?
If I have all my estate planning and long-term care documents from another state, do I have to have them redone in Florida?
If I leave the collaborative process, can my collaborative lawyer go with me?
Living will, power of attorney, or advance directive?
What are some permissible ways to spend down my assets?
Preparing for when you may not be capable of making decisions regarding your own medical or financial health is not a task many people want to undertake. However, designating a person to handle your affairs protects your interests should you become incapacitated. At Sperling Ducker PLC we understand that setting up or making alterations to an existing Orlando Durable Power of Attorney can be challenging. We will advise you through the process and ensure your documents follow Florida law.
What Decisions Can a Durable Power of Attorney Make?
A Durable Power of Attorney continues past when a person becomes incapacitated, when a person can no longer make their own decisions. The wording must be very specific to clarify that the legal document is for a Durable Power of Attorney, which is why it is important to have the assistance of a lawyer when creating the legal documents. The individual who makes the document can keep the legal acts broad or quite specific. According to The Florida Bar, examples of what an Orlando Power of Attorney may become responsible for include the following:
- Managing bank accounts;
- Signing contracts;
- Selling property;
- Making healthcare decisions; and
- Signing legal documents on the maker’s behalf.
What to Consider When Choosing Your Power of Attorney
If you do not choose an agent as your Durable Power of Attorney, the court can appoint a person to be your guardian. According to CNN Money this can cost your family upwards of $1,000, not including guardian’s visits. A guardian may not always act in your best interests, however. Instead, make sure you decide on a person you trust ahead of time. This person should be someone who:
- You know can make financial decisions in your best interest;
- Is capable of handling the day-to-day affairs;
- Understands what choices you would be likely to make if you could; and
- Is someone who can interact with your family without conflict.
Changes to Power of Attorney
As long as you are in a sound state of mind you can set up a Power of Attorney. Often this is associated with elderly, but often times military members will set up a Power of Attorney before going on active duty overseas. Once you have designated a Power of Attorney you can cancel the appointment by destroying the document and drafting a new one. Furthermore, if the Durable Power of Attorney is set up for health care decisions, it can also be written so that it ends when the person recovers to full health and mental capacity.
Contact An Orlando Elder Lawyer Today
Naming a Durable Power of Attorney may seem like a task you can save for later but you never know when your life will be altered from an illnesses or accident. Should you suddenly be in a position where you can not make medical or financial decisions you will want a person you can trust handling your affairs. If you have questions about your estate planning, including designating a Durable Power of Attorney, contact Sperling Ducker PLC. We will meet with you at our offices, your home, or other location most convenient to you.
Not sure about care for an elderly loved one? If you are seeking legal representation contact Sperling Ducker PLC, Attorneys and Counselors at Law. Call us at 407-645-3297 or send us a send us a message. Visit our Winter Park and Orlando office. Sperling Ducker serves Altamonte Springs, Longwood, Maitland, Orlando, Oviedo, Winter Garden, Winter Park and Winter Springs and surrounding areas.