With a power of attorney, you can appoint another person to have the authority to act on your behalf. However, in some cases, a particular arrangement might no longer serve your interests.
As long as you have the mental capacity to understand what you are doing and to make decisions, you can revoke this legal document at any time for any reason.
What Is a Power of Attorney For?
A power of attorney (POA) is one of numerous estate planning documents that can help protect you. With a POA, you have a responsible person acting on your behalf if you need help. When someone you genuinely trust is your agent, the arrangement can be beneficial.
POAs come in several different types and can serve different purposes, and the right ones for you will depend on what your unique needs. Imagine, for example, that you are a business owner. If you become hospitalized and can’t make decisions, the agent you named in your financial power of attorney can carry out your wishes and handle your financial affairs.
A power of attorney for property allows you to name someone who can access your bank account and pay bills. A health care power of attorney gives your agent the ability to make medical decisions for you. A limited power of attorney grants someone specific powers.
Depending on your wishes, your power of attorney can take effect immediately. Or, a particular life event, such as your having lost capacity to make decisions or communicate, can trigger it.
Using a power of attorney to appoint an agent can protect your autonomy. Without a power of attorney, the court might appoint a guardian for you if you become incapacitated. Subject to the court’s authority, you might not have the opportunity to choose the person acting for you.
While you would have to petition the court to end a guardianship, you can revoke a power of attorney yourself without court involvement.
Reasons for Canceling Your Power of Attorney
When you cancel your power of attorney, your named agent can no longer handle your affairs.
You may wish to revoke your power of attorney in the following circumstances:
- After your agent passes away. Your agent may have died, and you might not have your desired successor agent on the power of attorney document. Appointing a new agent will require a new document.
- You have reasons for no longer trusting your agent. Your relationship with your agent may have deteriorated, so you no longer trust them. For example, perhaps they stole funds from your account, disrespected your wishes, or abused you. If any of these are true, you should end your power of attorney.
- The individual can no longer act as your agent or does not want the responsibility. For instance, your agent may have gotten sick or moved away.
Steps to Take
Once you have resolved to end your power of attorney, it’s important to understand that there are several ways you can take away your agent’s legal power to make decisions for you.
- Execute a revocation of power of attorney form. Typically, this document includes your name, the agent’s name, the date your POA took effect, and the revocation date. Some state laws require individuals to have a notary public certify the record.As explained above, having a power of attorney in place can protect your rights and safeguard your autonomy. If you become unable to manage your affairs, consider executing a new POA.
- Create a new power of attorney. This can also negate any previous power of attorney. When you make a new power of attorney, you can include a provision stating that you cancel any prior power of attorney documents.
- In some states, you can withdraw a power of attorney orally. For instance, if you are in the hospital and your agent tries to make choices you disagree with, you might no longer want their help. You may also be able to terminate your power of attorney by destroying the document.
While it may be possible to take away your agent’s power without a written document, it’s always a good idea to have the revocation in writing, either with a revocation form or with a new power of attorney.
Work With an Estate Planner
Speak to Ashley Day Law, LLC to learn more about executing – or terminating – a power of attorney. We can also help you create your estate plan, navigate estate or inheritance taxes, and secure the well-being of your family members in the years to come.