A power of attorney (POA) is a document that allows an individual to appoint a person or an organization to manage his or her affairs when he becomes unable to do so. In most cases, people will appoint attorneys if they are out of the country and are in need of someone to handle their matters or are physically and mentally ill; hence, incapable of managing their affairs. Not all POAs all created equal, and each gives the attorney a different level of control. In the state of Florida, the general powers of attorney include but are not limited to handling financials and business transactions, settling claims, making gifts, buying life insurance, operating business interests, and employing professional help. To ensure that attorneys can handle financial matters, their general powers are usually included in estate plans.
Regarding the special powers of attorney, an attorney can handle matters for another person if he or she is committed elsewhere or due to health reasons. Some of the common matters specified in a special power of attorney document in the state of Florida include selling a property, collecting debts, managing real estate, and handling business transactions. A health power of an attorney grants the concerned agent the power to make health decisions if one is unconscious or mentally incompetent. However, healthcare power of an attorney d9iffers from a living will although they are combined in some states.
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The concept of powers of attorney is not far-reaching, complicated, and broad. The reason attributed to this assertion is the fact that at the end of the day, is always, or should be, a level of trust between the parties involved in the agreement. It is for this reason that most people employ people that they are either personally close and trust implicitly.
