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Legal Definitions
“Springing power of attorney” means a power of attorney that, by its terms, becomes effective at a specified future time or on the occurrence of a specified future event or contingency, including, but not limited to, the subsequent incapacity of the principal.[1]
“Incapacity” means the inability of a person to handle their personal affairs due to:
- An impairment in the ability to receive and evaluate information or make or communicate decisions even with the use of technological assistance; or
- Being missing;
- Being detained, including incarcerated in a penal system; or
- Being outside the United States and unable to return.[2]
Legality
A springing power of attorney is legal in every state except Florida (unless it was signed before Oct. 1, 2011).[5]
Review the state laws to understand any limitations.
Sample
SPRINGING POWER OF ATTORNEY
1. Principal Information: My information is as follows:
Name: [PRINCIPAL’S NAME]
Address: [PRINCIPAL’S ADDRESS]
Date of Birth: [PRINCIPAL’S DATE OF BIRTH]
Hereinafter known as the “Principal.”
2. Agent Information: I appoint the following to be my agent:
Name: [AGENT’S NAME]
Address: [AGENT’S ADDRESS]
Relationship to Principal: [RELATIONSHIP TO PRINCIPAL]
Hereinafter known as the “Agent.”
3. Powers Granted: This Durable Power of Attorney grants the Agent the following powers: (initial each power)
_______ – Financial Matters: To conduct any and all financial transactions on my behalf.
_______ – Real Estate Transactions: To buy, sell, lease, or manage real estate property.
_______ – Maintenance: To provide maintenance for myself and family.
_______ – Banking Transactions: To conduct withdrawals, deposits, and other acts.
_______ – Investments: To manage investments including stocks and bonds.
_______ – Legal Actions: To handle legal claims and conduct litigation.
_______ – Tax Matters: To file, contest, and settle tax matters.
_______ – Government Benefits: Including Social Security, Medicare, and Medicaid.
_______ – Additional Powers: _________________________________
4. Governing Law: This Power of Attorney will be governed by the laws of the State of [STATE].
5. Durability: This Power of Attorney shall not be affected by my subsequent incapacity or disability.
Principal’s Signature: __________________________ Date: _____________
Print Name: __________________________