Powers of Attorney
There are two main types of durable powers of attorneys. The first is for health and is commonly called a Living Will or an Advance Health Care Directive. The second type is for finances and is commonly called a Financial Durable Power of Attorney.
Living Wills (Advance Health Care Directives)
A living will is a legal document that allows you to specify whether you would like to remain on life support in the event of a terminal illness should you become incapacitated and unable to make those decisions for yourself.
In Florida, you are also able to create an Advance Health Care Directive that goes one step further and not only allows you to specify end-of-life decisions, such as whether you would like to remain on life support in the event of a terminal illness, but also permits you to name an agent to make health care decisions for you in the event you are incapacitated and unable to do so.
Financial Durable Power of Attorney
A financial durable power of attorney is a legal document that allows you to name an agent who is authorized to act on your behalf with respect to financial decisions in the event you become incapacitated.
For example, if you become incapacitated and are unable to make your own decisions, the person you have listed to act as your agent on your behalf would have the authority to deal directly with third-party financial institutions such as banks.
Alina Gonzalez-Dockery is a Florida-licensed attorney who is available to discuss with you how Florida durable powers of attorney may benefit you and your family. If you would like to schedule a free legal consultation to learn more about Florida estate planning law and durable powers of attorney, please call for an appointment.