A Power of Attorney is a legal document wherein you designate another person, known as the “attorney-in-fact”, to make financial decisions for you. Under current law, the Power of Attorney is effective immediately upon execution.
Without this document, if you become incapacitated, a Guardianship, which can be very costly, may be necessary.
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Michael L. Cahill is an attorney and certified public accountant providing estate planning, probate and tax services in the St. Petersburg, Seminole, Largo, Clearwater and Florida gulf beach communities.