Power Attorney And Will
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How to fill out Florida Durable Power Of Attorney For Property, Finances And Health Care?
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FAQ
There's No Court Oversight ? Usually, the lack of court supervision is an advantage, however, if and when the powers of attorney are abused, it can present an incredible disadvantage since the courts are not required to oversee a durable power of attorney.
A Power of Attorney Could Leave You Vulnerable to Abuse Often, this does not happen ? at least not unless or until abuse of power becomes egregious. Because of the potential that an agent could take advantage of you or steal from you, it is very important that you select the right person to act as your agent.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
Through the POA, you serve as an agent and fiduciary for the principal. That role makes you responsible for properly managing their money, assets, and debts. And that includes decisions on how to handle their debts.