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Clearwater Estate Planning & Probate Attorney > Clearwater Power of Attorney

Clearwater Power of Attorney

There are a number of situations where you might need someone else to take legal action on your behalf with respect to your property. In some cases, this may be a one-time affair, such as having someone close a real estate contract for you. In other circumstances, you may require an agent to effectively step into your shoes because you are incapacitated or otherwise unable to manage your financial affairs for an extended period of time.

Under Florida law, you can use a power of attorney to designate an agent to act in your name. An experienced lawyer familiar with Clearwater power of attorney can walk you through the process and draft a document that meets your needs while protecting your rights and interests. William Rambaum is a Florida Bar Board Certified Elder Law Specialist who has been helping Pinellas County residents for over 35 years in taking charge of their estate planning, which includes having a properly drafted power of attorney.

The Benefits–and Limits–of a Florida Power of Attorney

The basic idea behind a Florida power of attorney is simple: The principal (you) name an agent (another person) to act in your name. The authority that you grant your agent can be as broad or as limited as you wish. A limited power of attorney is one where you only authorize your agent to conduct a specific act, such as selling your home or making deposits to your bank account. If you grant your agent broad authority, that is known as a “general power of attorney,” and it can effectively permit your agent to manage all of your property and assets in your name.

Typically, a power of attorney takes effect when signed and only remains in effect while you are still considered legally competent. This means that if you are later declared incapacitated by a court, that also terminates your agent’s authority to act under your power of attorney. You may, however, sign a “durable” power of attorney, which remains in effect during your incapacity. Indeed, most of the powers of attorney that we prepare for clients are durable, as they reduce the potential need for a court-appointed guardian in the event of an incapacitating event.

It is important to note, however, that a power of attorney does not survive death. Once the principal dies, that terminates the agent’s authority. At that point, any assets belonging to the deceased in their sole name becomes the property of their probate estate.

Contact Clearwater Power of Attorney Lawyer William Rambaum Today

A power of attorney need not be complicated, but it does require a careful understanding of the law and how it may affect an agent’s authority to act. That is why you should always consult with a qualified Clearwater power of attorney lawyer before signing any document that purports to give someone else the right to manage or dispose of your property. Call the office of William Rambaum today at 727-781-5357 to schedule an appointment.

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