As we go through life, there may come a time when we are unable to make important financial or legal decisions for ourselves. It could be due to physical or mental limitations, or an unforeseen event like an accident. In such situations, having a Tampa Power of Attorney (POA) in place can be crucial in ensuring that our interests are protected and our wishes are followed.
What is a Tampa Power of Attorney?
A POA is a legal document that allows an individual (the principal) to grant another person (the agent or attorney-in-fact) the authority to make decisions on their behalf. This authority could be broad or limited, and can apply to financial, health care, property or legal matters. The agent, once appointed, must act in accordance with the principal’s wishes and best interests, and within the scope of their granted authority.
The POA can be durable or non-durable. A durable POA remains in effect even if the principal becomes incapacitated, whereas a non-durable POA is terminated upon the principal’s incapacitation. The principal can also revoke or modify the POA at any time, as long as they have the mental capacity to do so.
Benefits of Having a Power of Attorney in Tampa.
A POA allows the principal to choose the person(s) who will make important decisions on their behalf, rather than having a stranger or family member appointed by a court. This can give the principal greater peace of mind and control over their affairs.
Continuity of Business or Financial Affairs.
If a person is unable to manage their business or financial affairs, having a POA in place can ensure that their affairs will continue without interruption. This can be critical in situations where time-sensitive decisions need to be made.
Health Care Decision-Making.
A POA for health care allows the appointed agent to make medical decisions on the principal’s behalf if they are unable to communicate their wishes. This can include choosing treatments, consenting to surgery, or deciding whether to continue life-sustaining measures.
With a properly executed POA, the agent can handle the principal’s affairs outside of the public eye, without court involvement or public records. This can help maintain the principal’s privacy and protect their sensitive information.
How to Establish a Power of Attorney in Tampa.
Choose an Agent.
The principal should select someone whom they trust to act as their agent. The agent should be responsible, reliable, and someone who understands the principal’s preferences and values.
Select the Type of POA.
Depending on the needs and preferences of the principal, they may choose a durable or non-durable POA, or one that is limited or general in scope.
Draft the POA.
A POA typically requires specific language and formalities to be legally valid. It is recommended to consult with an attorney to help draft the POA to ensure that it meets state-specific requirements and accurately reflects the principal’s intentions.
Sign the POA.
The principal must sign the POA and have it notarized, and some states also require witnesses. The agent should also sign the POA, acknowledging their acceptance of the authority granted to them.
Copies of the POA should be provided to the agent(s), any relevant financial institutions, healthcare providers, and other parties involved in the principal’s affairs. The original should be stored in a safe place and easily accessible.
Establish Your Power of Attorney Today.
Candela Law Firm offers a wide range of legal services, including consultations, assistance with documents, and the establishment of POA. Our mission is to deliver legal advice you can count on, and we can walk you through every step of the process. You can learn more about our practice areas online, or get in touch to schedule a consultation.