Sweeping changes have taken place with the new Durable Power of Attorney statute in Florida, which went into effect on October 1, 2011. It applies to all power of attorneys regardless of when they were executed. So, the question that everyone is asking is, “do I really need to sign a new POA?”
If your existing POA is valid prior to October 1, 2011, then it will remain valid. However, the new POA will be the one that financial institutions will be expecting to see in the future. If the time comes when it may be needed, having the new POA in place will ensure its acceptance by a third party. Make sure your POA is not obsolete when you really need to use it.
Because of the extensive changes rewritten into the new POA statute we have posted highlights of those changes on our Web site - Estate Planning Documents