Florida’s New Power of Attorney Act

On June 21, 2011 Florida enacted Senate Bill 670 which brings Florida law closer to conforming with the Uniform Power of Attorney Act (UPOAA). The Uniform Law Commissioners created the UPOAA, enacted in ten states and introduced for enactment in Ohio and Texas, as a way to encourage the use of and provide guidelines for powers of attorney.

Powers of attorney executed in Florida prior to October 1, 2011 (the effective date of Florida’s new Power of Attorney Act) will remain valid if they comply with the new law. If a power of attorney is executed in another state, it will be valid in Florida if its execution complied with the law of the state of execution.

According to the new law, the principal and two subscribing witness must sign the power of attorney, and the principal must acknowledge the document before a notary public. Unless otherwise provided for in the document, an agent is only allowed to make gifts of the principal’s property in an amount not to exceed the annual federal gift tax exclusion amount. Additionally, Florida no longer allows Springing Powers of Attorney.

For more information on Florida’s New Power of Attorney Act, see Mildred Gomez (attorney, Miami, FL) Florida Enacts New Powers of Attorney Statue, American Bar, 2011.