Yes, even if you have a will, it’s often advisable to have a durable power of attorney (DPOA) as well. A durable power of attorney is a legal document that designates someone, known as the “attorney-in-fact” or “agent,” to make financial and legal decisions on your behalf if you become incapacitated or unable to handle your affairs.
Here’s why having both a will and a durable power of attorney is beneficial:
1. Different Purposes:
- Will: A will comes into effect after your death and outlines your wishes regarding the distribution of your assets, guardianship for minor children, and other instructions.
- Durable Power of Attorney: This document is effective during your lifetime and enables someone to manage your financial and legal matters if you’re unable to do so yourself due to incapacity.
2. Incapacity Planning:
While a will addresses what happens after your death, a durable power of attorney is crucial for handling situations where you are still alive but unable to make decisions. Without a DPOA, if you become incapacitated, your loved ones might need to go through a costly and time-consuming legal process to appoint a guardian or conservator to manage your affairs.
3. Continuity of Decision-Making:
A durable power of attorney provides continuity in decision-making, allowing your chosen agent to act on your behalf without the need for court intervention. This can be especially important for managing financial transactions, paying bills, and handling other legal matters promptly.
In Florida, a durable power of attorney becomes durable by including specific language stating that it remains effective even if you become incapacitated. It’s important to carefully choose a trustworthy and responsible person as your attorney-in-fact and discuss your wishes and expectations with them.
Consulting with a probate attorney who specializes in estate planning in Florida is advisable to ensure that your documents are drafted according to state laws and meet your specific needs. They can provide guidance on creating a comprehensive estate plan that includes both a will and a durable power of attorney.
Contact Michael T. Heider, P.A., your trusted Florida probate attorney, for legal guidance in securing your legacy. Our legal team specialises in estate planning, wills, and Lasting Power of Attorney to ensure comprehensive protection for your assets and well-being. Call 727-235-6005 to schedule a consultation and empower your future with personalised legal solutions.
Secure Your Future with a Durable Power of Attorney in Florida – Consult Heider Law
