The Florida Legislature recently passed a bill drastically changing the existing durable power of attorney statute. Governor Rick Scott has yet to sign the bill but it is expected to become law shortly. When it becomes law, it will affect powers of attorney executed on or after October 1, 2011.

The new statute makes a great number of changes to the old law, clarifies some previously existing “gray” legal areas and greatly expands the previously existing statute. Some key provisions include:

•Powers of attorney must now be notarized as well as have two (2) witnesses for valid execution;

• Powers of attorney executed in other states are valid in Florida if validly executed in their state of origin;

• Special rules are provided for co-attorneys-in-fact;
• “Springing” Powers of attorney are eliminated after the effective date, although Springing powers executed before the effective date are still valid;
• Certain powers contained in the document must be initialed in order for the attorney-in-fact to perform such actions;
• Only qualified people can get paid to serve as the attorney-in-fact; and
• Much more specific standards of conduct must be followed by the attorney-in-fact.

You can view the contents of this bill here.

The net effect of this bill will provide for drastic changes to your average power of attorney. At DeLoach & Hofstra, we continuously work to improve and update our powers of attorney. This is another opportunity to make our documents even better and help our clients as best we can.