A power of attorney (POA) is a legal instrument that allows someone to make important decisions on another person’s behalf. In Florida, there are several different types of POA. Choosing the appropriate one depends on the specific needs of the principal.
Outlined below are some of the main types of POA.
Durable power of attorney
A durable power of attorney (DPOA) remains in effect even if the principal becomes incapacitated, making it an essential tool for long-term planning. A DPOA typically comes into effect as soon as it is signed unless there are specific written instructions stating otherwise.
General vs. limited power of attorney
A general power of attorney is broader in nature. It tends to grant authority over financial and legal matters, such as managing bank accounts, handling real estate and conducting business dealings. A general POA is usually invalid if the principal becomes incapacitated.
A limited power of attorney allows the agent to act on specific tasks. For instance, it may allow someone to sign real estate documents on the principal’s behalf while they are out of state.
Medical power of attorney
A medical power of attorney is also commonly referred to as a designation of health care. This document allows an agent to make medical decisions if the principal cannot do so. Many people pair this with a living will to outline their preferences regarding medical decisions.
Choosing the right documents and agents depends on your situation. The person you appoint should be responsible, impartial and willing to take on the role. For more information, it will be beneficial to seek some legal guidance.