Video Summary
Is a previous power of attorney still valid? Powers of attorney don’t have an expiration date, so they are valid and until revoked. The problem that you have whenever you have an old power of attorney, thats many years old and you present it to a bank or someone else, they may or may not accept it, which they may or may not be required to by law. So it’s probably wise that you go ahead and update your power of attorney from time to time. Florida recently changed the power of attorney statute, which authorized what they call superpowers, which would give your agent the ability to handle some of your IRA accounts, things such as that. One problem that people run into is if they have a trust in all their assets in the trust and they also give someone a power of attorney the person or agent who has the holds a power of attorney cannot deal with any assets that are titled in the name of the trustee’s name. Only the trustee or successor trustee can do that unless special provisions are made in the trust and the power of attorney. If you have any questions, give me a call at (727) 847-2288.