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How To Create Power of Attorney? Before It's Too Late...

Often, we don’t realize the importance of having power of attorney until it’s too late. We become ill and, suddenly, need help paying bills or communicating with creditors, mortgage companies, or the homeowners/condo association. If we decline rapidly, either in health or in mental acuity, there may be no time to get a power of attorney in place. Our family members are then left in a very difficult position. So how can you be proactive and create a power of attorney now, so your family can help you if necessary?


A power of attorney is a written legal document that lets you appoint someone you trust to handle your financial affairs. And it may surprise you to learn that, in Florida, a spouse or child cannot act on behalf of a family member. The power of attorney should clearly set out the powers you wish to grant, and it should comply with the state law where you live to ensure its effectiveness. In Florida, certain powers must also be acknowledged by initialing next to the specific power, and the power of attorney should be witnessed and notarized.


You can choose to record the power of attorney with the official records department in your county of residence, you can provide the power of attorney to your appointed agent, or you can simply notify your agent where to locate the power of attorney in case of an emergency. To act on your behalf, your agent will provide a copy of the power of attorney to a third-party or financial institution. You can also terminate the power of attorney at any time by preparing a written revocation and providing the revocation to your agent. If you’ve recorded the power of attorney, you should also record the revocation with official records.


If we can help you prepare a power of attorney or if you have questions or need assistance with other estate planning documents, please contact is at (813) 244-7758 or Ross@RossSpanoLaw.com. Remember, if competent, caring estate planning guidance us a must, then Ross Spano Law is the friend you can trust.


Cheers!


Ross Spano    

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