A Durable Power of Attorney gives the person of your choice, the attorney-in-fact, the ability to speak for you in the event you are incapacitated. Here, the attorney-in-fact is given the specific ability to do almost anything you can do – pay your bills, buy and sell insurance, access your IRAs, mortgage your property, etc. The attorney-in-fact a fiduciary and as such has a duty to invest and manage the assets of the principal as a prudent investor. This standard requires the attorney-in-fact to exercise reasonable care and caution in managing the assets of the principal.

Importantly, not all powers of attorney are created equally. We continually strive to create a better and more versatile document that works best for our clients. We want to make sure that your wishes are followed when you become incapacitated and that the attorney-in-fact can act with few hassles. If you have an older power of attorney (greater than 5 years old), your power of attorney was not created by a Florida attorney, or you are using a form power of attorney, you should definitely look to having your document reviewed by a qualified elder law attorney.

Remember, when you need help with elder law or estate planning, call DeLoach & Hofstra to get a Board Certified Elder Law attorney who will fight for you. Our firm is large enough to handle the most complex and sophisticated cases, but small enough to deliver the personalized service our clients need.