Establishing A Durable Power Of Attorney
A durable power of attorney (POA) is a legal document that allows an individual to designate an agent to make personal, medical or financial decisions in the event that the individual becomes physically or mentally incapacitated. This is one of the most important estate planning tools an adult can have, and it is important to seek help from a lawyer to effectively establish a POA.
At Allender & Allender, our attorneys are dedicated to meeting the estate planning needs of people throughout central Florida. To schedule a consultation, call our main office in Titusville at 321-529-2448.
When Is The Best Time To Create A POA?
It is never too early to create a POA. It is always possible to amend a POA in the future if you wish to name another person your agent. A POA must exist prior to any incapacity because the person creating the POA must understand what they are signing, the consequences of creating this document, who is being appointed as their agent and the types of property that may be affected should the person ever become incapacitated.
Furthermore, if a spouse or adult child becomes incapacitated and does not have a POA in place, the other spouse or the parents do not have the legal authority to make personal, medical or financial decisions for their loved one. If there is no POA, the other spouse or the parents would have to be named the legal guardian of the incapacitated person, an expensive, time-consuming and difficult process. That is why it is important to establish a POA at the earliest opportunity.