The Florida Durable Power of Attorney Form is a Power of Attorney Agreement that allows the Attorney-in-Fact to continue to act on behalf of the Principal, even if the Principal is rendered comatose, diagnosed with dementia or otherwise incapacitated. Oftentimes these agreements will be Springing Agreements, that are only put into action once the Principal is incapacitated.
Under Florida State law, Power of Attorney Agreements are required to contain specific notice to financial institutions in order to give the Attorney-in-Fact power over the Principal’s financial affairs. In addition, each bank or other financial institution will have the option to request a legal opinion about the validity of each Power of Attorney agreement, and take the time to determine if they will accept them. There is little an Attorney-in-Fact can do to avoid this, so they should simply be prepared for the bank to request a legal opinion and time to review the agreement.