Are you married? Are you familiar with a Florida power of attorney? Do you know what it is? A Florida power of attorney (POA) is a legal instrument that grants an individual the authority to act on behalf of another person in various matters, including financial and healthcare decisions? However, in the context of marriage, it is common for couples to wonder whether a spouse is automatically granted a power of attorney over the other spouse’s affairs or if they have to complete Florida legal planning. In fact, in Florida as in many other states, the concept of an “automatic” power of attorney for spouses is a misconception that needs clarification.
To continue, a Florida power of attorney is a legal document that authorizes one person to act on behalf of another person. The person who is acting is usually referred to as the “agent” or “attorney-in-fact” while the person creating the document is the “principal.” You need to know that this authority can be broad or limited, covering financial, legal, healthcare, and other specific matters. The Florida power of attorney is an estate planning tool that allows the agent to make decisions and take actions as outlined in the document. But, a Florida power of attorney does not grant the agent the status of a co-owner or a spouse with automatic decision-making powers.
In fact, in Florida, marriage itself does not automatically confer power of attorney rights upon a spouse. Granted, marriage does establish a legal relationship with certain inherent rights and responsibilities but it does not allow automatic authority over the financial and healthcare decisions of a spouse. Spouses who wish to have this authority must explicitly create a Florida power of attorney document.
This is especially important if you want your spouse to have the authority to manage financial matters on your behalf. These financial tasks can include, but not be limited to, tasks such as handling bank accounts, paying bills, managing investments, and even selling property. Without a Florida power of attorney, a spouse has no inherent right to access or control the other spouse’s financial affairs.
Now there is another important planning consideration that you should be aware of that focuses on durability. Have you heard the term “durable” power of attorney? A Florida durable power of attorney remains valid even if the principal becomes incapacitated. It is particularly important for situations where the principal may be unable to make decisions due to illness, incapacity, or injury.
So if you and your spouse want to avoid potential complications and uncertainties in the future then it is essential for you to plan for the future by creating a comprehensive Florida durable power of attorney with your experienced Florida estate planning attorney. This is especially important for spouses who want to ensure that their partner can act on their behalf if the need arises. Waiting until a crisis occurs could lead to legal and logistical challenges as one must have capacity to create this document, making an already difficult situation even more stressful.
To sum up, spouses do not automatically possess a power of attorney over the affairs of their partners solely due to marriage. It is critical for individuals to understand that the Florida power of attorney is a separate legal document that must be established intentionally. By proactively creating the appropriate power of attorney documents with their experienced Florida estate planning attorney, couples can be sure they are prepared for unforeseen circumstances and that their wishes will be respected and carried out by their chosen agent.
We know this article may raise more questions than it answers. At Britton G. Swank, P.A., our mission is to guide you in the right direction to help you provide for yourself and your loved ones no matter what the future holds. We want to help you control the assets you have, leave them to people and causes you care about, when you want, in the way you want. We can help you take care of yourself and those you love in the event of disability due to illness, injury or old age. No matter what risks unfold, we can help give you the comfort of knowing you are prepared. We want you to feel good about your future and the future of your loved ones. We encourage you to contact us and schedule a meeting.
