It is an unfortunate fact of life that due to advanced age, illness or accident, any one of us can become incapacitated, and no longer able to control our own financial affairs. In this case, the Florida Financial Power of Attorney statute allows us to name an individual designated as our Attorney-In-Fact, who will become our stand in for monetary matters. Without such an individual in place when and if the time comes, the courts may very well have to step in to impose order.
The Attorney-In-Fact is seldom an actual attorney, but he or she must be reliable, dependable, and ideally, should live close by to handle the innumerable tasks best done face to face with the relevant parties. Similar financial philosophies should be shared, because the Attorney-In-Fact will be charting your financial course for the term of your incapacitation.