Most people who have considered estate planning have some understanding of these terms but may not be clear on how they work in Florida β or what they can and cannot enable you to do. What exactly is power of attorney? Is it preferable to an application for guardianship? And are there instances when guardianship is the best option?
It is important to plan for this. Otherwise, other people may make financial, medical, legal, and personal decisions on your behalf that are against your choices or preferences. A power of attorney is the best way to accomplish this in Florida. This legal document can be shared with the relevant financial, medical, and other institutions that require the authorization of a named individual to manage affairs on behalf of an individual.
In Florida, a power of attorney may be set up for a single transaction like selling a property. However, most people looking to create a comprehensive estate plan want to put measures in place that protect themselves and their loved ones in the event of incapacity.
A durable power of attorney allows you to nominate a trusted individual to make decisions for you if you lose capacity. The powers granted can be as broad or limited as you choose. Your power of attorney document should be drawn up by a professional estate planning lawyer to accurately reflect your wishes. If no power of attorney or other legal document is in place to grant decision-making responsibility once someone loses capacity, the Florida courts may need to intervene.
Adult guardianship is when an individual generally a family member applies for legal decision-making authority from the courts. To make matters worse, it often takes place at a time when a family is already stressed and concerned about the welfare of a loved one.
