Power of Attorney Revocation Document
The power of attorney is a legally binding document in which authority is designated to a certain trusted individual (agent), usually a relative, friend or business associate, to make certain kinds of decisions on your behalf. The power of attorney revocation is a legal document which provides information that informs those concerned, in writing, of the intention to revoke a former power of attorney that you had previously created and designated. The revocation indicates that you now intend to withdraw the powers that were originally granted to the agent, as were designated in the earlier power of attorney document.
Importance of Power of Attorney Revocations
Usually, it is always better to formalize your intentions and keep them up to date, especially when it comes to important legal documents. When intentions are not put in writing, there is always room for error and people may then be left to try to figure out how to proceed on your behalf should the need arise. Putting the revocation in writing demonstrates that you intend to revoke a former power of attorney, while protecting your interests and making it clear as to whom you wish to designate as your personal representative.
Reasons to Revoke a Power of Attorney
As long as you are legally competent, you may make your own decision to revoke a former power of attorney. Just as easily as the power of attorney was granted, you are free to revoke the document for any reason that you wish. Reasons for creating and activating a power of attorney revocation can be many. For example, certain circumstances in your life or business may have changed. Certain individuals may no longer be able or willing to act as an agent. Another reason may be that you are no longer comfortable with certain individuals acting as your chosen agents to handle some kinds of affairs. However, regardless of the reason, it is not necessary to include in the revocation document, the precise reasons for activating it. There is no legal requirement in place that requires you, in any way, to state why you have chosen to revoke the original power of attorney.
Power of Attorney Revocations Protect Interests
It is necessary to construct a written revocation of power of attorney to protect yourself and your interests and to adequately express your intentions as to your assets and other aspects of your life. The power of attorney is very powerful as a document and should only be assigned to individuals who maintain high levels of trust by those who designate them. When changes of intention occur, it is important to make those intentions known in writing, rather than leave any room for misinterpretation. Left in place, a power of attorney can have unpleasant and detrimental repercussions if used improperly. By making a written revocation, there will be no question as to your intentions.
Revocation of Power of Attorney Document
The revocation of power of attorney document requires basic information such as the date on the original power of attorney assignment that is being revoked, your current name and address, and your agent's name and address. If you choose to construct it yourself, use a form that may be available through your state bar association or any reputable legal association. Consider using a document preparation service that uses licensed attorneys. This may be more efficient and reliable than using a generic form that has blank spaces. Often, you can use an online service and a home printer to prepare your document. Ensure that the document is notarized by having it signed in the presence of a notary public so that it is valid. Once executed and notarized, provide a copy to your agent and ask that any copies of the former power of attorney be returned to you.
Inform Necessary Parties
Once the revocation is finalized, notify any financial institutions, persons and those associated with making health care decisions, if applicable. Ensure that all related businesses with whom the agent was in contact are notified of the revocation. If the power of attorney was recorded with your county clerk's office or any other governmental agency, provide the applicable agencies with copies of the revocation of power of attorney document. Follow up to ensure that all parties who need to know of the change have amended their records accordingly.
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