Under Florida Law, is an Agent Appointed to Act Under a Power of Attorney Entitled to be Paid Compensation?

Florida Statutes Section 709.2112 of the Florida Power of Attorney Act, entitled “Reimbursement and compensation of agent,” provides as follows:

(1) Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal.

(2) Unless the power of attorney otherwise provides, a qualified agent is entitled to compensation that is reasonable under the circumstances.

(3) Notwithstanding any provision in the power of attorney, an agent may not be paid compensation unless the agent is a qualified agent.

(4) For purposes of this section, the term “qualified agent” means an agent who is the spouse of the principal, an heir of the principal within the meaning of s. 732.103, a financial institution that has trust powers and a place of business in this state, an attorney or certified public accountant who is licensed in this state, or a natural person who is a resident of this state and who has never been an agent for more than three principals at the same time.

Thus, under Florida law, in order to determine whether an agent granted authority to act for a principal under a power of attorney is entitled to be paid compensation, it is necessary to review the language of the power of attorney and evaluate whether the agent falls within the defined term of “qualified agent.” For example, if a principal appoints a son or daughter to act as an agent under a power of attorney (i.e., an heir of the principal within the meaning of s. 732.103), that agent is entitled to compensation that is “reasonable under the circumstances,” as well as reimbursement of expenses “reasonably incurred on behalf of the principal,” so long as the power of attorney does not state otherwise.

Joel Ewusiak represents clients in disputes involving a power of attorney. Please contact Joel for legal assistance with your specific matter.