Power of attorney
Published on April 19, 2019 by Cipparone & Cipparone PA

Establishing a power of attorney can sound intimidating, but it is very simple when working with an experienced professional. If you are looking to put a future plan in place for your personal and business affairs, you should look into setting up a power of attorney. First, there are some basic items that you should know.

A power of attorney (POA) is a legal document in which the principal (you) designates another person (called the agent or attorney-in-fact) to act on your behalf to make decisions in certain or all matters.

Common Uses of a POA

There are many instances where an individual would establish power of attorney including:

  • Financial Matters: Can be used to authorize someone to manage your financial affairs. This can include paying bills, managing bank accounts, and handling investments.

  • Real estate Transactions: Can be used to authorize someone to buy or sell real estate on your behalf.

  • Health Care Decisions: Also known as a health care proxy, can be used to authorize someone to make medical decisions for you if you become incapacitated and unable to make decisions for yourself.

  • Business Matters: To authorize someone to act on your behalf in business matters. This can include signing contracts, managing employees, and making decisions about the operation of the business.

  • Legal Proceedings: Can be used to authorize someone to act on your behalf in legal proceedings. This can include hiring a lawyer, attending court hearings, and settling legal disputes.

  • Government Benefits: Authorize someone to apply for and manage government benefits on your behalf, such as Social Security or Medicare.

  • Military Affairs: Military personnel may use a power of attorney to authorize someone to act on their behalf during deployments or other military assignments.

  • Educational Matters: To authorize someone to make decisions about a minor child’s education, such as enrolling them in school or making decisions about their educational program.

  • Personal Matters: To authorize someone to handle personal matters on your behalf, such as arranging for home repairs or managing your personal affairs while you are out of the country.

  • Emergency Situations: Can be used to authorize someone to act on your behalf in emergency situations, such as if you are incapacitated or unable to communicate.

  • Insurance Matters: Can be used to authorize someone to manage your insurance policies and handle insurance claims on your behalf.

  • Tax Matters: Used to authorize someone to file your tax returns, communicate with the IRS or other tax authorities, and handle tax-related matters.

  • Digital Assets: Can be used to authorize someone to manage your digital assets, such as online accounts, social media profiles, and digital files.

  • Non-Profit Organizations: Used to authorize someone to act on your behalf in matters related to non-profit organizations, such as serving on a board or making decisions about charitable donations.

  • Trusts And Estates: A power of attorney can be used to authorize someone to manage a trust or estate on your behalf, including distributing assets to beneficiaries and making decisions about the administration of the trust or estate.

There are many other ways that someone can use power of attorney effectively. The most common power of attorney granted in the state of Florida is a durable power of attorney. A durable power of attorney is effective immediately upon execution and will continue to be effective even after the principal is incapacitated.

Power of Attorney Requirements

Florida law permits any natural person with capacity to contract to execute it. The legal document must have a date of execution as well as be signed by the principal or by another adult under the direction and presence of the principal. The document can only be acknowledged by a notary public and two witnesses which must be adults and not the “agent” representing the principal.

Choose a Trustworthy Agent

No matter what reason you are deciding to grant someone else authority over an aspect of your life, it is important to know the pitfalls of such a decision. The Power of Attorney appointment ends at the death of the principal. It is not a substitute for a last will and testament.

There have also been instances where the agent has abused their power. Other than you, there is no oversight to your agent, particularly if and when you become incompetent or incapacitated. Make sure that whomever you have entrusted to become your attorney can be trusted with such an important responsibility.

Are You Ready to Appoint a Power of Attorney?

Designating a power of attorney is an important responsibility that should be overseen by a professional so that you are fully protected. Contact Cipparone & Cipparone, P.A. to start taking control of your personal affairs today.

**This blog is for general informational purposes only. Cipparone & Cipparone, P.A. does not distribute legal advice through this blog. As such, this blog does not constitute legal or other professional advice and no attorney-client relationship is created between the reader and Cipparone & Cipparone, P.A.

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**This blog is for general informational purposes only. Cipparone & Cipparone, P.A. does not distribute legal advice through this blog. As such, this blog does not constitute legal or other professional advice, and no attorney-client relationship is created between the reader and Cipparone & Cipparone, P.A.

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