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This durable power of attorney is not affected by subsequent incapacity of the principal except as provided in Florida Statutes. DURABLE POWER OF ATTORNEY State of Florida County of KNOW ALL MEN BY THESE PRESENTS that I of name county Florida as authorized by Florida law do hereby appoint To manage and conduct my affairs. 11. GENERAL POWERS a In general to do all other acts deeds matters and things whatsoever in or about my estate property and affairs or to concur with persons jointly...
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Hi this is Howard Straus and welcome to video tips these tips are not designed to give a strict legal advice it's merely to give you an introduction to a concept or a principle something that might be useful to you or you might want to think about so that you can then talk to your lawyer about it one thing that we get a lot of calls on and that's what video tips is above is powers of attorney durable powers of attorney are mostly used today and the word durable simply means that as long as the person signs the power of attorney when they are well mentally then if they should become incapacitated and in the sense that they become mentally incompetent the power of attorney would still be valid that's the shorthand version of what a durable power of attorney is it is controlled by statutory law law that was created by the legislature in Florida and it was just recently changed a little over a year ago some of the things though that I want to tell you about today include formal guardianship the fact that this is not a panacea to everything the fact that it is effective immediately it's like a blank check there are no instructions associated with the power of attorney there's no reporting and it doesn't always work in all states let's talk about formal guardianship what if you didn't have a power of attorney well if you don't have a power of attorney and you don't have a trust that holds the property you only have two options then do nothing at all or you have to someone on your behalf would have to go and get a guardianship established now this assumes of course that you're incapacitated if you have capacity just do it yourself the other thing is it's not a cure-all for everything it's not going to work in all instances so it will give you one example let's say you have a mutual fund and that's controlled in the city of Chicago well off the city of Chicago and folks that are there are not controlled by Florida law so even a Florida law would compel them to something if they were located in Florida they're not so it has its limits that's why many people use trusts and it is a blank check in other words if you have a general power of attorney and which covers all kinds of activity that the individual could do for you it's effective immediately as soon as you sign it so you better very well know the individual you're giving this power to and understand that it's in the wrong hands it could create a lot of mischief and that would be putting it mildly there are no instructions with the power of attorney it just indicates what the person can do it does not indicate how when or why so make sure that the individual that you are selecting you trust implicitly one hundred percent and again it's not always honored and even in Florida the law was changed so that there are exceptions when even someone in Florida does not have to honor the power of attorney if you go out of state with the power of attorney again it's very important to note that it is not...