Granting someone Power of Attorney (POA) allows them “to walk in your shoes.” There are numerous reasons for needing a Power of Attorney, such as instances when you are unable to do something pertaining to your estate and you elect a POA to step in on your behalf to manage what needs done.

There are various levels of POA to grant someone else.

Limited access

With limited access, a singularly named authority is granted to another person.  For example, the Power of Attorney may be granted the ability to sign a contract on your behalf or allowed to make financial transactions for you.

Durable Power of Attorney

Durable Power of Attorney allows a person to make financial transactions (including transactions and decisions pertaining to retirement funds, investments, and lines of credit), make tax elections, withdraw and transfer money, buy or sell property, sign a contract, and make medical decisions in your stead. Durable Power of Attorney is effective until you pass away or the POA is revoked.

Getting Proper Assistance

Myrthil’s Law, P.A. can help you navigate the often-complicated legality of establishing Power of Attorney. Since there are various levels of of Power of Attorney you can provide to someone else, it is key for you to choose the most appropriate type of POA to fit your specific needs.  All situations differ for every individual, hence why a private estate planning attorney can play a vital role in taking much of the stress from the matter – they will tune in to your specific needs before creating a legal document drafted and supported by Florida statutes. An estate planning attorney can also provide aid in evaluating potential Power of Attorney designees.

You owe it to yourself to sit down with a legal counselor from Myrthil’s Law, P.A. team.  We will go over with you all the fine points, regulations, and other strategies associated with planning for present as well as the future.

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