What Happens If You Do Not Draft A DPOA?
Many people believe that estate planning only becomes important after they pass away. However, no one knows what the future holds and something could happen while you are still alive. A sudden accident, illness, or other medical emergency could leave you incapacitated and unable to make decisions regarding your finances and other important matters.
Without the proper documents in place, such as a durable power of attorney (DPOA), your loved ones may have no choice but to go to court to resolve these issues. Below, our Daytona Beach power of attorney lawyer explains what could happen if you do not draft a DPOA.
You Cannot Decide Who Makes Decisions for You
If you do not have a durable power of attorney, no one will have the authority to automatically handle your finances. Many people believe that their spouse can simply step in and make those decisions, but this is not true. Your loved ones will not be able to access your bank accounts, sign contracts on your behalf, manage your bills or investments, or sell property. Essentially, all of the financial matters in your life will come to a halt.
Medical and Financial Delays
Again, without a DPOA, medical and financial matters will grind to a halt. Not only will you be unable to make decisions, but until a decision is made, you will experience delays in medical and financial matters. Banks, physicians, and financial institutions may reject instructions from anyone other than you. This can stall payment of bills, medical care decisions, and management of your assets.
You Cannot Name Your Own Guardian
There may come a time when you need a legal guardian. If a court determines that you cannot manage your property or meet essential safety, health, or welfare requirements, a judge may appoint a guardian to care for you. The person the court appoints may not align with your wishes. Rather than leave the matter up to someone who may not fully understand your circumstances or your wishes, you can draft a DPOA and ensure that you will have the care you need from a person you chose yourself.
How to Draft a DPOA in Florida
There are several legal requirements to draft a DPOA in Florida. These are as follows:
- You must be mentally competent
- You must sign the document
- Two witnesses must also sign the document
- The document must be notarized
It is critical that you speak to an attorney before drafting a DPOA. An attorney will ensure the document is executed properly, complies with Florida law, and includes certain language to clarify that it is a DPOA that remains effective even in the event of incapacitation.
Our Power of Attorney Lawyer in Daytona Beach Can Help
If you want to ensure that your future is protected, our Daytona Beach power of attorney lawyer at Bundza & Rodriguez can draft your document, ensure that it is executed properly, and answer all of your questions. Call us now at 386-252-5170 or contact us online to schedule a consultation and to learn more about how we can help.
Source:
flsenate.gov/laws/statutes/2010/709.08
