When you sign a Durable Power of Attorney, you are giving legal authority to someone to act on your behalf. This provides a simple way for someone to manage your financial affairs. The use of the word “durable” coupled with language in the document which states it continues to be in effect if you are incapacitated, assures that your agent can act at any time.
Caution must be taken when signing a Durable Power of Attorney because in most cases, the agent may act immediately upon signing the document- He or she may use the document even if you are competent!
There are many provisions that are necessary to have in a Durable Power of Attorney if you may need to qualify for Medicaid in the future. A Durable Power of Attorney is a valuable legal document that should be drafted by an experienced lawyer.
Florida State Statute – Chapter 709, Florida Statutes, Power of Attorney