Durable Powers of Attorney
A Durable Power of Attorney (DPOA) is a document in which you can appoint a third party to make decisions regarding property and financial affairs. This is a critical component to any estate plan because without a DPOA, a costly Guardianship process may be needed for someone who becomes unable to manage his or her property.
In October, 2011, the Florida DPOA statute was completely overhauled and new, comprehensive provisions were enacted that make the document more complex in terms of content and for execution purposes. Although Florida DPOA’s executed prior to October, 2011 are technically “grandfathered” in under the new law, it is still important to update it because some financial institutions have not honored old forms.