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Learn About the Florida Springing DPOA

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Did you know the new statute states that a “springing” durable power of attorney can not be established after October 1, 2011? However, any springing durable power of attorney signed prior to October 1, 2011, will remain valid after October 1, 2011.

The springing durable power of attorney was a document conditioned upon the person creating this durable power of attorney lacking the capacity to manage property as defined in the Florida guardianship statute. This definition means that a person lacks the capacity to take those actions necessary to obtain, administer, and dispose of real and person property, intangible property, business property, benefits and income.

While a judicial determination that this person lacks the capacity to manage property was not required, the statute stated that this springing durable power of attorney can only be exercised by the agent upon the delivery of the primary physician’s affidavit had to state that this physician is licensed to practice medicine in the state of Florida, that he or she is the primary physician who has the responsibility for the treatment and care of the person who created the durable power of attorney, and that the person creating the durable power of attorney lacks the capacity to manage property as defined in the applicable Florida guardianship statute.

Further, Florida’s new Durable Power of Attorney statute states that powers of attorneys signed under the laws of another state will be valid in Florida if they are signed pursuant to the law of that state. However, a bank has the right to request its attorney to give an opinion regarding the out-of-state power of attorney being valid. The bank has the right to charge the principal or agent for this legal opinion. Nevertheless, a durable power of attorney signed in another state must be signed before two witnesses and have a notary’s acknowledgment in order to convey or mortgage homestead real property. Does this article raise more questions than it answers? Do not wait to contact us to ask them.