Power of attorney — a powerful document
Question: My husband and I are getting up there in age (we are in our mid-80s). We are both active and feel great, but we want to be able to handle our affairs should one of us develop any kind of illness, especially one that affects our faculties. Can we do anything to plan?
Answer: The adage “an ounce of prevention is better than a pound of cure” applies perfectly to this situation. You are both in great health now, but you understand that, inevitably, one or both of you may fall ill. Florida law has specific laws relating to a power of attorney. When you grant your spouse a power of attorney, you are authorizing them to act on your behalf relating to anything you could do financially. Great care should be taken for the power of attorney to be effective for what you need it for. If you anticipate selling your house in the future, for instance, you will want the power of attorney to be specific to sell real estate, particularly your homestead property. By making the power of attorney “durable,” it will be valid even if your spouse develops issues with cognitive skills, such as the onset of Alzheimer’s or other disease that could impact ability to make decisions. A durable power of attorney is valid until the death of the person who granted it. Without a power of attorney, the sale of your home may require a legal guardianship over the spouse, which can be expensive to set up and maintain. The attorney-in-fact (the person named in the power of attorney) is required to act in the best interests of the person who granted it. A power of attorney is a powerful document, I always advise clients that they should be given only when you trust both the morals and judgment of the person they are granting it to.
Eric P. Feichthaler has lived in Cape Coral for 27 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Southwest Florida to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through his chairmanship of the Harney Point Kiwanis Club KidsFest, which provides a free day of fun and learning to thousands of Cape Coral families, and funds numerous scholarships. He has been married to his wife, Mary, for 13 years, and they have four children together. Recently, he earned his board certification in Real Estate Law from the Florida Bar. He is also a Supreme Court Certified Circuit Civil Mediator.
This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.