Best Power of Attorney Information I found

Why Is a Power of Attorney Important?

Everyone should think about having one as it can be more important to your personal well being than a will. The power of attorney allows you to pick someone you trust to handle your affairs if you cannot do so yourself. It gives you peace of mind, reassuring you that in an emergency, someone you choose will have the authority to act for you. If you don’t have one and you are suddenly incapacitated, your family may have to go through an expensive and time-consuming court action to appoint a guardian or conservator to make decisions for you.

 

There are four types of power of attorney:

  • Limited:
    Authorizes a person to handle a specific task for a limited period of time or in certain circumstances
  • General:
    Authorizes a person to do whatever you can do
  • Durable:
    Authorizes a person to act on your behalf even if you become incapacitated
  • Springing:
    Authorizes a person to act on your behalf only after a certain event leaves you incapacitated

The most common type used in estate and health care planning and administration is a durable power of attorney.

When you give someone power of attorney, you are giving him or her the right to access your financial accounts, sell property, cash checks, withdraw money and enter into contracts. Granting someone a power of attorney does not limit your rights; it simply gives the other person the power to act when or where you cannot.

 

 

Are There Any Risks Associated With Powers of Attorney?

The most important way to reduce any risk is to choose your agent carefully. Select someone you trust completely. Never forget that you are giving your agent the opportunity to access your funds at a time when you may not be able to keep tabs on what the agent is doing. So the person must be very trustworthy. You may also want to add ways for other people to check up on what your agent is doing when you cannot.

 

Your parent is single or married to someone who isn’t mentally competent to exercise power of attorney. In either case, there should be at least one other person with power of attorney.

It may make sense to give that person what’s known as “springing power of attorney,” which means the agreement will only take effect if a physician deems your parent to be incapacitated or incompetent.
What if I die without legally naming a power of attorney?

When no power of attorney is in place, often a family member or friend is forced to seek court appointment to become a conservator and/or guardian. This can be a difficult, costly and complicated endeavor for a family member or close friend during a very emotional time.

 

This link leads to a comprehensive collection of questions and answers from the Florida Bar Association. It’s answers questions you may not have thought of yet.

 

http://www.floridabar.org/tfb/tfbconsum.nsf/0a92a6dc28e76ae58525700a005d0d53/ab36277c4562e98885256b2f006c5ad6?opendocument

 

This is a place to take a look at what the document looks like. I looked at several sites and I liked the way this one is worded, better than some others.

 

http://www.tidyform.com/power-of-attorney-form/florida.html