Changes to Florida's Power of Attorney (POA) laws in 2011
If you have assigned someone a power of attorney (POA) over your estate or business in Florida, or have been considering doing so, there were some important changes to the law that took place in 2011 that you should consider before you call your attorney.
Florida State statute Chapter 709 details all the specifics of the POA laws. These changes were voted into place in May 2011, but did not go into effect until October 1, 2011, and were instituted in order to bring Florida more in line with other state laws under the federal Uniform Power of Attorney Act.
Giving someone "powers of attorney" makes them an "agent" of your estate, and allows them to make financial, contractual, and legal decisions on your behalf. You are referred to in the paperwork as the "principal." A POA agreement can be very helpful (for example) in case you are incapacitated and unable to make decisions on your own behalf, or if you are a partner in a business and want to allow your partner to act on behalf of the whole business in case you are unavailable.
If your POA agreement was enacted in Florida prior to Oct 1, 2011, it will remain the same, although you may want to speak to a Florida estate planning attorney or probate attorney about what this would mean for you. However, if you are looking to make changes to your POA, or need a new agreement, there are changes to the law which have taken effect and you want to make sure you're aware of them and how they might affect the POA you need:
When you're planning your estate, sometimes trusts, wills, powers of attorney, and health care surrogacy can "slip through the cracks." When you are evaluating your family's situation and needs in case of an emergency, don't hesitate to discuss the most important aspects of making sure your family is taken care of and provided for in the way that you want. This documentation is important to ensure your family is provided for appropriately, and an estate planning attorney or probate attorney in Florida can be very valuable to make sure the paperwork is set up exactly correctly.
If you have questions about how these laws affect active POAs, or about designating someone as your POA, please contact the Coye Law Firm for additional assistance in Florida.
Florida State statute Chapter 709 details all the specifics of the POA laws. These changes were voted into place in May 2011, but did not go into effect until October 1, 2011, and were instituted in order to bring Florida more in line with other state laws under the federal Uniform Power of Attorney Act.
Giving someone "powers of attorney" makes them an "agent" of your estate, and allows them to make financial, contractual, and legal decisions on your behalf. You are referred to in the paperwork as the "principal." A POA agreement can be very helpful (for example) in case you are incapacitated and unable to make decisions on your own behalf, or if you are a partner in a business and want to allow your partner to act on behalf of the whole business in case you are unavailable.
If your POA agreement was enacted in Florida prior to Oct 1, 2011, it will remain the same, although you may want to speak to a Florida estate planning attorney or probate attorney about what this would mean for you. However, if you are looking to make changes to your POA, or need a new agreement, there are changes to the law which have taken effect and you want to make sure you're aware of them and how they might affect the POA you need:
- To enact POA documentation, you need two witnesses and the stamp of a notary public. You (as the principal) can cancel the POA agreement without additional paperwork at any time. The agent of the POA may cancel their agreement or decline their rights by informing the principal and any other co-agents in writing.
- Any new agreement will become effective immediately and not rely on a "triggering event" such as incapacitation.
- Agents may now request reasonable reimbursement for the expenses they incurr on behalf of the POA or principal.
- Default duties of the agent are now defined in the law as a list of generally understood duties, such as: action with care, competence, and diligence for the principal's best interest and sole benefit, and cooperation in health care decision for the principal.
- The new Florida laws also allows principals to designate co-agents and successors, divide powers of attorney amongst multiple people or institutions, and indicate who is to be "next in line" for those powers if the agent is unable or unwilling to accept them.
When you're planning your estate, sometimes trusts, wills, powers of attorney, and health care surrogacy can "slip through the cracks." When you are evaluating your family's situation and needs in case of an emergency, don't hesitate to discuss the most important aspects of making sure your family is taken care of and provided for in the way that you want. This documentation is important to ensure your family is provided for appropriately, and an estate planning attorney or probate attorney in Florida can be very valuable to make sure the paperwork is set up exactly correctly.
If you have questions about how these laws affect active POAs, or about designating someone as your POA, please contact the Coye Law Firm for additional assistance in Florida.
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