What is a Durable Power of Attorney and Why Do I Need One?
A Durable Power of Attorney is a document in which you give someone the right to be you. This person, depending upon the scope of powers you confer upon them, may do any number of things as if they were you including closing bank accounts, taking out loans, selling real estate and the like. A Durable Power of Attorney can be invaluable in protecting your assets and maintaining your lifestyle in a time of incapacity not only in your old age but at any time in your life.
A Durable Power of Attorney is a document authorized by Florida law which allows you to appoint another person to act for you with regard to personal, business and financial matters. This differs from the Healthcare Power of Attorney which deals with medical issues. In a Durable Power of Attorney, you authorize someone to be able to do a myriad of duties if you are unable to do them and need assistance. To understand the need for this document, imagine if you were injured in a serious accident and were hospitalized for six weeks. During your hospitalization, there are matters which need attending to such as paying bills, dealing with insurance companies, etc. If you are unable to do these activities, the person designated under your Durable Power of Attorney can act for you.
