As people age, they are at a greater risk of injuries or illnesses that incapacitate them or render them unable to make crucial decisions for their health or finances. In these instances, having a power of attorney or durable power of attorney is critical for ensuring that the ailing person can select someone they trust to make informed decisions for them. When granting Florida durable power of attorney in Delray Beach, working with an estate planning lawyer is essential. The Millman Law Group was founded by Aaron D. Millman, Esq., CPA, in 2018 and can help people navigate the complexities of durable power of attorney (DPOA). Millman Law Group attorneys advocate for our clients and provide patient, consistent, and professional services while recommending estate planning decisions.
The Unique Advantages of Durable Power of Attorney
There are two different powers of attorney: durable and standard. Standard power of attorney gives an “agent” the right to oversee and handle financial or medical matters for another person, “the principal.” However, this power ends if the principal becomes incapacitated or mentally incompetent.
Durable power of attorney grants an agent this same authority of the principal’s affairs, but the authority remains intact if the principal experiences a mental decline. DPOA is designed to support cases in which Alzheimer’s, dementia, or medical emergencies occur.
The Duties of Florida Durable Power of Attorney
Power of attorney is initiated by a document in which the principal designates an agent to act on their behalf. The principal specifies which powers are granted, and the POA goes into effect immediately once the document is signed.
An agent granted Florida durable power of attorney in Delray Beach has complete control over a principal’s estate. The agent can file tax returns, manage accounts, and buy or sell a property. They can make medical decisions, including providing consent to proceed with or terminate medical procedures. The agent is legally accountable for their actions and must record all decisions made on behalf of the principal.
How Working With a Lawyer Can Help
Establishing durable power of attorney in Delray Beach can be significantly beneficial. However, the process can be complex, so it is always best to work with an estate planning lawyer. Your Millman Law Group attorney can help you decide which powers you should designate through your DPOA document. If particular powers are not mentioned in the document, the agent may not be able to meet all of your needs. Principals can also name co-agents and successor agents for extra peace of mind.
After a principal dies, their estate documents will decide all financial matters. People can grant the same person durable power of attorney and executorship, but they are not required to. A skilled estate planning lawyer can help navigate this decision process.
Enjoy Peace of Mind with Durable Power of Attorney
If you do not establish Florida durable power of attorney in Delray Beach, a court-appointed guardian will take control. This can be a problematic situation for many families, especially when an elder relative has specific wishes for their health in the case of mental decline.
Durable power of attorney can be a way to plan for the unexpected, but everyone involved must be on the same page. Your Millman Law Group attorney can ensure that you and your family make the best decisions for the future.
Contact The Millman Law Group To Establish Florida Durable Power of Attorney in Delray Beach
Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.