Durable Power of Attorney
The Durable Power of Attorney is a legal document that gives someone (the principal) else the authority to act on your behalf (in your place).
The person who holds this power is often called the attorney in fact or agent, and you can restrict their powers as much as you would like. However, keep in mind, under Florida Law, a durable power of attorney is effective immediately upon signing. Make sure to speak with your attorney about escrowing the Power of Attorney.
A specific or limited Power of Attorney is also available. For instance, a father can have his daughter only make decisions on selling his real property, while his son can take care of the rest of the finances.
The Power of Attorney is customized to a person's specific circumstance and can be revised as circumstances change as long as the principal retains capacity.
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