FORT LAUDERDALE POWER OF ATTORNEY LAWYER

What is a Power of Attorney?

A power of attorney is a document delegating authority from one person to another. The maker of the power of attorney (the “Principal”) grants the “Agent” the authority to act on the Principal’s behalf.  

• The Principal: the person who is delegating authority to the Agent to act on his or her behalf. 
• An Agent: the recipient of the authority to act on behalf of the Principal. Any competent person 18 years or older may serve as an agent. 

Why is a Power of Attorney useful?

A power of attorney allows the Agent to manage business or financial matters for a busy or absentee Principal. This document minimizes disruption and ensures continuity in important transactions when the Principal cannot act personally due to incapacity or disability.

When does a Power of Attorney terminate?

A power of attorney terminates when any of the following things occur: 

• The Principal revokes the power of attorney.  

• The Principal dies or becomes incapacitated (unless it is a durable power of attorney).  

• The terms of the power of attorney are met.  

• The term of the power of attorney ends. 

• The Principal drafts a new power of attorney.  The new power of attorney supersedes the old power of attorney. 

Power of Attorney vs. Guardianship

Many people confuse a power of attorney with a guardianship. A power of attorney is established by the Principal and the powers given to the Agent may be tailored according to the Principal’s wishes. However, a guardianship is initiated and overseen by the court and grants broad decision-making power to the guardian, even if contrary to the wishes of the ward. In a guardianship proceeding, the Court literally takes away the ward’s powers and gives them to the guardian, rendering the ward powerless.  A power of attorney intends to prevent court involvement while a guardianship requires court supervision.  

Furthermore, a power of attorney may be drafted for a few hundred dollars while a guardianship costs several thousand dollars. Typically, a consultation with an Elder Law Attorney will help you determine whether a power of attorney works best for you.

Another area of confusion is the cost involved in establishing a guardianship versus a POA. A POA can be properly drafted by an Elder Law Attorney for a few hundred dollars. A guardianship costs several thousand dollars. In many cases a POA will be all that is needed. In other cases a guardianship is necessary. Typically, a consultation with an Elder Law Attorney will help determine whether or not a POA will be sufficient.

Are there different types of Power of Attorney’s?

There are several types of power of attorney’s that vary according to range of authority.  

• Limited power of attorney: grants the Agent authority to conduct a specific act on behalf of the Principal.  

• Durable power of attorney: grants the Agent authority to act on behalf of the Principal, even if the Principal becomes incapacitated.  

• Super power of attorney:  this durable power of attorney grants the power of attorney 4 additional powers that are not typically included in the durable power of attorney.  This is useful for folks that need additional assistance in their asset management.  

A durable power of attorney is especially important when planning for incapacity. It is expected that the durable power of attorney will be used in cases where the principal will develop: 

• Alzheimer’s 

• Dementia 

• Parkinson’s disease 

• or another medical condition which will leave the principal incapacitated. 

Please call our office at 954-832-0885 to discuss how The Law Offices of Odelia Goldberg can help you with your legal issues. Virtual and telephone appointments are available. In some cases, home or hospital appointments may be arranged.