Including Power Of Attorney In Your Tampa Estate Plan
A power of attorney (POA) plays an important role in Tampa estate planning. It protects you against unexpected events, allowing you to designate in advance someone you trust to act on your behalf in making financial, medical, or legal decisions. Our Tampa estate planning lawyer explains more about the benefits and the process for putting a Florida power of attorney in place.
What a Tampa Power of Attorney Does and The Benefits
A power of attorney (POA) authorizes someone you trust and designate in advance to manage your personal affairs if you are incapacitated. Under the Florida Statutes, incapacity means you cannot manage your property, assets, business, or other financial obligations, often due to a serious illness or injury.
Without a POA, your family has to guess what you might have wanted and will likely face significant challenges in maintaining your personal affairs. Proactively creating a power of attorney in Tampa ensures you and your assets are protected, regardless of unexpected events. Among the benefits include:
- Protects you if an injury or illness results in incapacity, leaving you unable to manage your affairs;
- Designates someone you trust to act according to your wishes;
- Ensures that household bills, bank accounts, businesses, and investments are appropriately handled;
- Prevents your family from initiating guardianship proceedings through the Hillsborough County Courts, where they publicly declare you are incapacitated and request the court grant them legal authority to manage your affairs, regardless of your wishes.
Steps to Create a Power of Attorney in Tampa
Establishing a power of attorney in Tampa protects you if a future injury or illness leaves you unable to manage your affairs. A general power of attorney addresses the management of personal assets, while a health care power of attorney authorizes a trusted individual to make medical decisions for you as needed. Steps in creating a POA in Tampa include:
- Determine the type of POA: Options include a general power of attorney, authorizing board powers, or a limited POA, which applies only to specific tasks.
- Choose someone to act as your agent: Make sure the person you select is trustworthy, willing to act on your wishes, and in close enough proximity to jump into action if needed.
- Draft the POA document: Work with an experienced Tampa estate planning attorney to create a POA that reflects your specific needs.
- Provide copies to relevant parties: This includes your agent and family or friends.
- Update as needed: The same as with other Tampa estate planning documents, your POA should be updated regularly to ensure it reflects your current wishes and circumstances.
Request A Consultation Today With Our Tampa Estate Planning Lawyer
A power of attorney plays an important role in a Tampa estate plan, authorizing someone you trust to manage your affairs if you are incapacitated. Bubley & Bubley, P.A. provides the trusted legal guidance and comprehensive client service you need to put a POA and other Florida estate planning documents in place. Give us a call or contact us online. Request a consultation today with our Tampa estate planning lawyer.
Sources:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0709/0709.html
hillsclerk.com/court-services/probate-guardianship-and-trust
