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A financial institution or broker-dealer does not have a duty to inquire as to the appropriateness of the agent's exercise of that authority and is not liable to the principal or any other person for actions taken in good faith reliance on the appropriateness of the agent's actions.

Florida statute 709.2109 dictates that a power of attorney terminates when the principal (the creator of the power of attorney) becomes incapacitated or dies. The difference, in Florida, between the (regular) Power of Attorney and the Durable Power of Attorney is also prescribed by Florida's statutes.

A bank may reject a power of attorney if it is not correctly executed. A power of attorney is validly executed if signed by the principal in the presence of two witnesses before a notary under Florida Statute Section 709.21405.

(19) ?Proxy? means a competent adult who has not been expressly designated to make health care decisions for a particular incapacitated individual, but who, nevertheless, is authorized pursuant to s. 765.401 to make health care decisions for such individual.

(1) A principal is presumed to be capable of making health care decisions for herself or himself unless she or he is determined to be incapacitated. Incapacity may not be inferred from the person s voluntary or involuntary hospitalization for mental illness or from her or his mental retardation.

A power of attorney ends if the person it represents becomes incapacitated. That's when a special kind of power of attorney, known as a durable power of attorney, is more appropriate, because it remains intact, or ?durable,? even if a person suffers mental incapacity in the future.