Florida Affidavit as to Principal's Competence at Time of Granting Power of Attorney
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How to fill out Affidavit As To Principal's Competence At Time Of Granting Power Of Attorney?
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FAQ
In order to be effective, a Florida power of attorney must be signed by the principal and by two witnesses, and be notarized. In the event the principal is physically unable to sign, the notary public may sign the principal's name on the document.
If the person that granted the POA is no longer legally competent to make their own decisions, the only way to override this POA is to petition the court to appoint the parties interested as adult guardians or conservators.
Limitations of a Power of Attorney in Florida The POA agent cannot change the agreement or break their fiduciary duty, otherwise they can be held liable for fraud and negligence. The agent also cannot transfer the POA to another individual or make decisions for the principal after death.
Requirements for a Power of Attorney The power of attorney must be signed by the principal or by another adult in the principal's presence and under the direction of the principal. The power of attorney is signed and acknowledged before a notary public or is signed by two witnesses.
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.
