Totten Trust: Durable Power of Attorney

Beane v. Suntrust Banks, Inc., ___ So. 3d ___, 35 Fla. L. Weekly D2490 (Fla. 4th DCA 11/10/10)

The attorney in fact under a durable power of attorney was authorized to withdraw funds from a Totten trust during the owner’s lifetime.  “[T]he durable power of attorney authorized [the attorney in fact] to act for the decedent ‘in my name, place and stead and in any way which I myself could do if I were personally present.”  Because the owner of the Totten trust retained the unfettered ability to withdraw any or all of the funds, the attorney-in-fact retained the same authority as a result of the power of attorney.”