Frequently Asked Questions
Having a Will means that my family is able to avoid probate, right?
What are POD/TOD designations?
How can I allow someone access to my accounts without naming them as a joint owner?
Are the Will and associated documents I drafted in another state valid in Florida?
Executing a Durable Power of Attorney (DPOA) enables you to designate an Agent that may transact business on your financial accounts in your place and stead, but only while you are living. Powers of attorney are immediately ineffective upon your death. The agent is able to access your accounts in much the same way that you are able to. For instance, they can pay bills for you, and may do anything that you authorize within that Power of Attorney.
However, unlike joint ownership, wherein the presumption is that the surviving joint tenant owns the account, upon your death the account will be distributed according to your wishes, i.e., pursuant to beneficiary designation, intestate succession or Will.