Reasons To Revoke A Power Of Attorney
A power of attorney (POA) is a vital document that allows someone else—your agent—to act on your behalf. It can be extremely useful if you are incapacitated or unable to make decisions for yourself, but it is also important to understand when revoking the POA is necessary.
If you are thinking of revoking a power of attorney, contact Mark R. Manceri, P.A., to get trusted and skilled representation. Our Pompano Beach power of attorney disputes lawyer helps people take the necessary steps to revoke a POA and ensure that they avoid disputes and litigation down the line.
4 Reasons to Revoke a Power of Attorney
Below are the four most common reasons for revoking a POA:
If you no longer trust the person you originally chose as your agent, or if your relationship with them changes in any other way, then it may be time to consider revoking the POA. You should also revisit the document and consider who would serve best in this new situation since there is a clear shift in trust. Plus, if you have been divorced, your former spouse must no longer have access to your finances through a POA unless you explicitly give them permission by updating the document and naming them specifically as an agent once again.
Death or Incapacity
The death or incapacity of either yourself or your originally appointed agent renders any existing POAs invalid. According to The Florida Bar, the principal’s death triggers automatic termination of a power of attorney. If either party dies, has become mentally incapable of making decisions, or has declared bankruptcy, then the POA should be revoked and updated as soon as possible with a valid replacement agent.
Sometimes life gets busy, and if your initially appointed agent no longer has enough time to take care of all their responsibilities under the original POA, then it might be necessary to revise and revoke it. Your agent may still want to help out with some tasks here and there, but if they cannot fully commit, then it is probably best for both parties to consider revoking the existing agreement and replacing it with another one that reflects their current availability better.
You Change Your Mind
It’s perfectly fine if you change your mind about who should serve as your agent after initially appointing someone else – just make sure that you complete all the steps necessary to revoke the original document before creating another one. If there are no other circumstances necessitating revocation, such as death or incapacity, then simply fill out a form stating that you wish for the current POA to be revoked so that nobody can use it anymore without consulting with you first.
Contact Mark R. Manceri, P.A., for Legal Counsel
Revoking a power of attorney (POA) is sometimes necessary due to various reasons. If any of the above-mentioned scenarios applies to you, make sure that all steps are taken carefully and deliberately so that everything is done legally and correctly according to state law where applicable. Consult with an attorney at Mark R. Manceri, P.A., to ensure compliance with all regulations and laws related to this process. With proper guidance on how best to handle each situation carefully involving revoking a power of attorney can go smoothly while keeping everyone’s best interests in mind at all times. Call 954-491-7099 to schedule a consultation.