Canceling Your Power Of Attorney: A Casual Guide

What is a Power of Attorney?

A Power of Attorney (POA) is a legal document that grants someone else the authority to act on your behalf. This can be for various reasons, such as managing your finances, making medical decisions, or handling property matters.

Why Revoke a Power of Attorney?

There are several reasons why you might need to revoke a POA:

Change of Circumstances: Your circumstances may have changed, making the POA no longer necessary or appropriate.

Dissatisfaction with the Agent: You may be dissatisfied with the way the agent is handling your affairs.

Agent’s Incapacity: The agent may become incapacitated or unable to fulfill their duties.

Death of the Agent: If the agent dies, the POA becomes invalid.

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How to Revoke a Power of Attorney

Revoking a POA can be done in a few different ways:

1. Express Revocation: This is the most common method. You simply create a new document stating that you are revoking the previous POA. This document should be signed and dated.
2. Implied Revocation: If you create a new POA that replaces the old one, this is considered implied revocation.
3. By Operation of Law: In certain circumstances, a POA may be revoked by operation of law. For example, if the principal (the person granting the POA) dies or becomes incapacitated, the POA is automatically revoked.

Steps to Revoke a Power of Attorney

1. Gather Necessary Information: Collect information about the original POA, such as the date it was signed and the names of the principal and agent.
2. Draft the Revocation Document: Create a clear and concise document stating that you are revoking the POA. Be sure to include the date of the original POA and the date of the revocation.
3. Sign and Date: Sign the document in front of a notary public. This will add legal weight to the revocation.
4. Notify the Agent: Inform the agent that you are revoking the POA. This should be done in writing to avoid misunderstandings.
5. Notify Third Parties: If the agent has been dealing with third parties, such as banks or financial institutions, notify them of the revocation.

Conclusion

Revoking a Power of Attorney is a relatively straightforward process, but it’s important to follow the correct procedures to ensure that the revocation is legally valid. By understanding the steps involved and consulting with a legal professional if necessary, you can effectively revoke a POA and protect your interests.

FAQs

1. Can I revoke a Power of Attorney without notifying the agent? While you can technically revoke a POA without notifying the agent, it’s advisable to do so to avoid any potential legal issues.
2. How long does it take for a revoked Power of Attorney to take effect? Once you have revoked a POA, it is generally effective immediately. However, it may take some time for third parties to be notified and for your agent to return any property or documents in their possession.
3. Can I revoke a Power of Attorney if the agent is no longer alive? If the agent is deceased, the POA is automatically revoked. There is no need to take any further action.
4. What happens to a Power of Attorney if the principal becomes incapacitated? If the principal becomes incapacitated, the POA may still be valid, depending on the terms of the document. However, it may be necessary to obtain a court order to appoint a guardian or conservator to manage the principal’s affairs.
5. Can I revoke a Power of Attorney that is durable? A durable POA is one that remains in effect even if the principal becomes incapacitated. However, you can still revoke a durable POA by following the same procedures as for a non-durable POA.

Revoking Power Of Attorney Form