The Villages encompasses a wide range of senior living for residents 55 and older, from singles to active couples enjoying their senior years. Some residents are full-time Villagers, while others maintain residences in colder climates for the summer months.
Having a power of attorney lawyer available in The Villages makes it convenient for residents to manage all aspects of their senior years while enjoying the nearby amenities. The estate planning team at Bogin, Munns & Munns is ready to help.
What Is a Power of Attorney?
Power of attorney directives can be extremely useful for part-time Floridians. Suppose your home state is Michigan, but your winter residence is in Florida, and you want your child to sell a vehicle in Michigan for you. A power of attorney can pass along the necessary permissions so that your child can sell your vehicle legally while you are out of state.
A POA is a document that designates another person (the agent) to conduct business or personal transactions for you (the principal). You may designate an agent to take care of your Michigan utility payments, write checks, make payments from your bank accounts, or manage a financial portfolio.
Different POAs provide for the various areas of your life and can encompass strict limits or be broad. When you discuss your needs with a power of attorney lawyer in The Villages, they will offer options.
To consult with an experienced power of attorney lawyer serving The Villages, call 855-780-9986
Types of POAs to Meet Your Needs
In all POAs, the person originating power of attorney (you) is the principal. The person that you designate to carry out your business is the agent.
General Power of Attorney
A general power of attorney can be comprehensive in allowing an agent to conduct various tasks for the principal. These tasks may include:
- Financial transactions
- Real estate maintenance, sales, and purchases
- Tax-related issues
- Routine banking
- Investment portfolio management
- The signing of legal documents
A general POA is best when used for short periods, such as during your stay out-of-state at a second residence. This can be a valuable tool for brief periods when you cannot manage your affairs, such as during a surgery recovery period. A general power of attorney becomes void if the principal becomes permanently incapacitated.
Durable Power of Attorney
A durable POA remains in effect if the principal becomes incapacitated. A durable POA can help designate an agent to care for all financial and medical matters.
An enhanced durable power of attorney can add long-term care planning and other items specific to elder care to a durable POA. This can help protect the principal and the agent if difficult decisions arise. The principal can specify their desires in advance by using the enhanced durable POA.
Limited Power of Attorney
This document is also known as a special power of attorney and contains language limiting the agent’s permissions to specific functions and time limitations. If you have one task, such as selling a vehicle, you may designate your agent to conduct that transaction. Depending on the language within a limited POA, they may expire upon completion of a task, set of circumstances, or on a specific date.
Medical Power of Attorney
Medical powers of attorney can also be known as advanced directives and living wills. They permit the principal to designate an agent to take care of medical decisions when they are no longer able. The document can include specific wishes for care dictated by the principal.
An advance directive allows the principal control over:
- Selection of long-term nursing or care facilities
- Medical records
- Surgeries or medical procedures
- Organ donation
- Other needs as medically necessary
In Florida, springing powers of attorney have been discontinued, but you may still hear the phrase. This document took effect if the principal became incapacitated. This option is no longer available in Florida but can be included in a durable or enhanced durable POA.
The Villages Power of Attorney Lawyer Near Me 855-780-9986
Power of Attorney Requirements
A power of attorney can be simple or quite complex, depending on the principal’s needs. There is no requirement to have an attorney draft a POA, but it can benefit you to consult with an attorney. Basic requirements for a POA under Florida Statutes § 709.2105 are:
- The designated agent must be 18 years old.
- The principal and two witnesses must sign the document in the presence of a notary.
- When signing, the principal must be competent.
A POA is void if the principal becomes incapacitated unless it is a durable POA. The responsibilities of an agent are not transferable, meaning they cannot be passed from one sibling to another unless both are mentioned as agents within the document.
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When Does a Power of Attorney Expire?
A power of attorney may take effect upon signing, or it may specify a date it will take effect. If a durable POA is in place pending a future event, the language can be specific to the effect. For instance, it may take effect at the point when the principal is no longer able to make certain decisions.
Some POAs can be limited to one event or set within a period of dates. These would expire when the event is complete, or the final date passes. If no end date is specified, a power of attorney will expire upon the passing of the principal.
When the principal passes, all matters formerly conducted by the designated agent will fall under the responsibility of the estate’s executor, who will follow the provisions in the decedent’s last will.
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Do I Need a Lawyer for a Power of Attorney in The Villages?
Not always. Suppose you want your child in a different state to sell a vehicle you left in their possession. In that case, a simple POA can be drawn up using online fill-in-the-blank forms, printed, signed, and notarized.
However, as a part of your estate planning, consulting with a power of attorney lawyer is beneficial. They can draft the more complex documents you will need for elder care.
Finding a Power of Attorney Lawyer in the Villages
In The Villages, Bogin, Munns & Munns provides power of attorney services for residents. Their estate team knows how to convey your wishes into a POA that protects you and your agent. Our team listens to your concerns, asks questions about your plans, and can draft any powers of attorney necessary to fulfill your objectives. Contact Bogin, Munns & Munns for an interview today.
Call or text 855-780-9986 or complete our Request a Consultation form