Revoke a Power of Attorney - Revocation of POA
There are many reasons to revoke power of attorney duties. Knowing how to properly revoke power of attorney authority will help prevent confusion and arguments down the road.
Reasons to Revoke Power of Attorney Duties
One of the leading reasons for revoking the duties of a power of attorney agent is simply a matter of trust. You may discover the power of attorney is struggling financially in his own life or maybe he's been caught embezzling your hard earned cash. In either case, it's recommended to replace him.
The current power of attorney agent might need to withdraw from duties for health reasons. Or, if you've chosen a spouse as power of attorney, an impending divorce makes it necessary to revoke the power of attorney.
Notify Important Parties Via Certified Mail
When revoking power of attorney duties from an agent, you must notify them via certified mail. Also send letters to important parties like your bank. Make sure you file the certification paperwork so that you have proof the party was informed. If the revocation process ruins relationships, there might be legal arguments down the road where someone will need this proof.
In many cases, the power of attorney agent might balk at having the POA revoked. If this happens, be prepared to prove your mental capacity in a courtroom. Have proof backing why you felt it important to remove the power of attorney.
After revoking power of attorney duties, make sure you destroy the forms. This eliminates any confusion in the future. Have others in possession of the form do the same. Providing this happens, you shouldn't have any conflict when you need a power of attorney to act on your behalf.
Assigning a New Power of Attorney
Once you have revoked power of attorney status, immediately draw up a new power of attorney. You can have a lawyer do this or create your own using an online power of attorney template. Make sure you have it signed in front of a notary public to make it legal.