There's a good chance that your mental clarity gradually will diminish as you age. It could also happen unexpectedly to younger individuals. Therefore, it would be wise to have a plan in place for someone to take care of your health and finances. This can be accomplished through a power of attorney.
Overview of Power of Attorney in FloridaWhen you grant someone power of attorney, that person will be considered your "attorney in fact" or "agent." He or she will have authority to be your fiduciary and to write your signature on documents. As your fiduciary, this person must obey your instructions and take action that always has your best financial interests in mind.
Because there are several versions of power of attorney in Florida, you should meet with an estate planning attorney in Fort Myers to determine which type would be best for you and your finances. The primary types are springing power of attorney and durable power of attorney:
- Springing power of attorney - This goes into effect only when something that you specified has happened. Generally, you may have become incapacitated and can't handle your affairs. Before springing power of attorney can be put into effect, your agent needs to provide proof that you are incapacitated.
- Durable power of attorney - This takes effect immediately. Your agent would not need proof you are incapacitated.
Choosing Your Agent for Power of AttorneyYou should give careful consideration to whomever you choose to be your agent. This individual should be someone:
- whom you trust wholeheartedly;
- who has the competence to handle the tasks at hand; and
- who is 100% willing to handle your medical and financial affairs.
An attorney in Fort Myers, Florida can provide more input on picking an agent and help you with all of your estate planning needs. It would be best that you consult with an attorney now, while your mental clarity is still sharp.