Best Estate Planning Attorneys in Bradenton, FL

General Durable Power of Attorney As a Florida Estate Planning Lawyer, the most common type of Power of Attorney I use is a General Durable Power of Attorney. Powers of Attorney, especially General Durable Powers of Attorney, are often used as part of a thorough estate plan to assist in guardianship avoidance. What is a Power of Attorney? A Power of Attorney is where an individual, the Principal, gives another person, the Agent or Attorney-in-Fact, the power over the property of the first. General vs. Specific A General Power of Attorney is one that grants as much power as the law allows. It is meant to let the agent basically step into the shoes of the principal and manage all of their assets. A Specific Power of Attorney is used for a limited purpose. This can be used for a single financial account or perhaps to sell a piece of real property. It may also have a limited time in which it can be used. What does Durable mean? Typically, a Power of Attorney is only good while the Principal has capacity, the ability to manage their own financial affairs. A Durable Power of Attorney, on the other hand, will survive the incapacity of the Principal. This is how it helps avoid guardianship. The Attorney-in-Fact can continue to manage the finances for the Principal, so the courts don’t have to appoint a Guardian to do so.