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Who'll make legal decisions for you if you can't? New law may decide.
November 08, 2011|By Diane C. Lade, Sun Sentinel
Major changes in Florida laws governing "durable powers of attorney" should prompt senior citizens and anyone else with such legal documents to review them and talk to their lawyers.
Documents drafted before Oct. 1, when the law went into effect, still are valid. But it's not known whether banks or the courts will accept legal papers drafted under the previous rules unless they specify which "powers" are to be conferred. What you need to know about the new law:
New documents must be more specific: Six of the most significant "powers" – including the right to give gifts from your funds, creating trusts and tapping into your retirement accounts – must be specifically listed in your document.
Effective date: Originally, you could create a "springing" power of attorney activated only after you were incapacitated. But the new law eliminates springing powers as of Oct. 1.
Legal documentation: Photocopies or electronic copies of durable power papers, not just originals, now must be honored by banks if they were signed on or after Oct. 1. If you later revoke your representative's power, destroy all copies as well as originals.
For more consumer information, from the Florida Bar: floridabar.org. Put "Florida power of attorney pamphlet" in the search field.
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