By September 7, 2018 No Comments
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Power of Attorney

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Assign Power of Attorney Before It's Too Late

As a part of responsible estate planning, there may be a time when it is useful for you to designate someone to act on your behalf. A power of attorney is a legal document in which one person (the “principal”) authorizes another (the “agent” or “attorney-in-fact”) to do so.  Power of Attorney may be one element described in a person’s Living Will.

The power of attorney may be of limited or unlimited duration and scope.

A limited power of attorney permits the named agent to act on behalf of the signer for a specific purpose only and, generally, only during a specific span of time. The named agent cannot sign documents or perform acts other than the named one(s) nor can the agent perform these acts at any time after the expiration of any specified period.

An unlimited power of attorney does not contain any restrictions as to scope or to duration. Excluding restrictions is beneficial in an estate planning context where the principal cannot anticipate all the situations in which he/she may need the agent to act in the future. If the unlimited power of attorney includes appropriate language regarding the subsequent incapacity of the principal, the power of attorney is said to be “durable” and the authorization is still effective even though the principal subsequently loses physical or mental capacity.

The Estate Planning and Trust attorneys at Bogin, Munns & Munns will be glad to assist you with the evaluation of whether or not a power of attorney is appropriate in your situation, as well as with the preparation, or subsequent revocation, of a power of attorney.

Florida Wills, Trusts & Probate Attorneys - Bogin, Munns & Munns
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Bogin, Munns & Munns is a Central Florida law firm that provides a wide spectrum of commercial law services including estate planning. Too many people wait until it is too late likely resulting in more stress and more costs. Don’t wait until a tragedy strikes before you start addressing these issues – whether for yourself or for your family members.

Call our corporate attorneys at our main Orlando office at 407.578.1334, or contact a representative in one of other offices nearest you: ClermontDaytonaOrange CityGainesvilleKissimmeeLeesburgMelbourneOcala or The Villages.

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