A power of attorney, usually abbreviated as “POA,” is a personal agent appointed by a principal to assist with the day-to-day financial affairs due to incapacity, inconvenience, or other reasons. In many cases, the agent acts alone on behalf of the principal when they are unable to do so.
For estate planning purposes, most POAs are intended to be durable. This means they remain in effect regardless of the principal’s later incapacity; so, if a principal appoints a durable POA when they are of sound mind, in the unfortunate event of incapacity, the principal doesn’t need to execute a new POA Authority. The POA will remain in effect until the principal terminates the relationship. Special language is used to ensure that a Florida POA is durable.