What is the distinction between “surviving” powers of attorney and “springing” power of attorney?
The key difference between surviving and springing powers of attorney is the time at which they take effect. Surviving powers of attorney are entrusted to the agent as soon as the paperwork is signed – the term “surviving” refers to the “durability” of this agreement, which lasts until and even after the point at which the ward becomes incapacitated. Springing powers of attorney, on the other hand, only go into effect after the ward is incapacitated.
After June 2011, the updated Florida Durable Power of Attorney Act formally banned springing powers of attorney (though any durable powers of attorney agreed upon before the institution of the new law were to remain valid). Having a durable power of attorney is an important part of comprehensive end-of-life planning and estate planning. Call the attorneys at Bach, Jacobs & Byrne, P.A. to have your estate plan assessed and evaluated.