Gunster attorney Lisa A. Schneider provides an expert analysis of Florida’s new Power of Attorney Act, declaring it a significant departure from tradition, in a recent edition of the New York Law Journal.
Here’s an excerpt:
The most impactful provisions under the act involve the so-called ‘super powers’ under §709.2202. This section speaks to the principal’s estate plan, and includes powers to create, amend, or terminate trusts. Under the act, the term ‘estate plan’ has a much broader scope than lawyers or clients typically contemplate.
For example, gifting is considered part of estate planning and includes any power that may directly or indirectly create or affect a gift. These new ‘super powers’ essentially authorize the agent to modify the principal’s estate plan, within certain statutory parameters.
Read the entire article: Florida’s New Power of Attorney Act: Significant Departure from Tradition.
Contact author Lisa A. Schneider.
