Power of Attorney, Revocation
A Power of Attorney is the legal power you can give to a representative, usually a family member or a trusted individual. A power of Attorney is usually given to a selected individual in the occurrence of events such as: mental incompetence or absence. When an individual is given a Power of Attorney, they then become your attorney-in-fact or agent and may now make decisions for you. You may be able to give a trusted individual power over your financial matter such as tax paying or banking matters and may even work for Motor Vehicles.
To be able to legally appoint a representative as your attorney-in-fact, you will need to sign and complete a fill-in-the-blank form which is usually a few pages long. In order for this form to manifest you must sign it in front of a notary public or in some states, witnesses.
A Power of Attorney ends when you declare so, you may be able to state a date as to when the Power of Attorney ends. Your Power of Attorney also ends if you revoke it, and you may be able to revoke it for a number of reasons such as: trust issues, wanting to take back full control over a business, wanting to appoint a new person to become an agent, divorce, or you are no longer absent and are fully able to make your own decisions. As long as you are mentally competent for all of the aforementioned situations, the discontinuance of the power of attorney will be granted. Finally, the Power of Attorney naturally ends at your death, which means that the individual you have assigned will no longer have any power over what is stated in the legal documents unless you mention them in your will as an “executor.”
Power Of Attorney, Revocation
Power of Attorney, Revocation
I, _______________ (“Declarant”), of _____________________________ (Address), through my Power of Attorney dated __________________ (“Power of Attorney”) made and appointed ________________, my true and lawful attorney in fact for the purposes, and with the powers set forth in the document.
I hereby give notice that I have revoked and canceled, and hereby do revoke and cancel, the Power of Attorney, and all powers and authority given, provided or implied therein to in that Power of Attorney.
In witness of this act, I have signed this Notice of Revocation of Power of Attorney on _________ (Date).
_______________________
Revoker of Power of AttorneyOn this _____________ (Date), before me, personally appeared known to be the person described in and who executed the foregoing instrument and acknowledged to me that they executed the same as their free act and deed.
__________________
Notary Public
Commission Expires on:Power of Attorney, Revocation
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. If in doubt, always revoke a Power of Attorney granted to another person. You can always reinstate a new Power of Attorney with that person or another as circumstances dictate.
1. Sign this Revocation of Power of Attorney in front of a notary to insure its holding up in Court should it be challenged at a later date. This is not absolutely required but it is strongly recommended. Courts tend to be partial to notarized documents.
2. Practically, your best bet after this Revocation is to recover and destroy all copies of the prior Power of Attorney then outstanding.
3. Send notice of the Revocation to anyone who had a copy of the original Power of Attorney, or any related party whom that person might have dealt with such as a bank, trust, or other fiduciary. Keep copies of this mailing list.
4. Keep a copy of the document in your home safe and another in accessible home files. If you have an attorney, be sure they have a copy as well.
Frequently Asked Questions
What is a Power of Attorney revocation?
A Power of Attorney revocation is a legal document used by the principal (the person who granted the power) to cancel and revoke a previously executed Power of Attorney. It gives notice that all powers and authority granted to the attorney-in-fact are terminated. The revocation must be signed by the principal and typically notarized to be effective.
How do I revoke a Power of Attorney?
To revoke a Power of Attorney, you must sign a Notice of Revocation of Power of Attorney, which identifies the original Power of Attorney and states that it is revoked. The document should be signed in the presence of a notary public, who will acknowledge your signature. It is also advisable to provide copies of the revocation to the attorney-in-fact and any institutions that may have relied on the original Power of Attorney.
Do I need to notarize a Power of Attorney revocation?
The provided document includes a notary acknowledgment section, indicating that notarization is a standard part of the revocation process. While notarization may not be legally required in all jurisdictions, it is strongly recommended to ensure the revocation is recognized and to prevent challenges. The notary public confirms the identity of the person signing the revocation.
What happens if I don't revoke a Power of Attorney?
If you do not revoke a Power of Attorney, the attorney-in-fact may continue to act on your behalf within the powers granted. This could lead to actions you no longer authorize, such as financial transactions or property management. Therefore, it is important to revoke any Power of Attorney you no longer wish to be in effect.
Can I revoke a Power of Attorney without the attorney-in-fact's consent?
Yes, as the principal, you have the right to revoke a Power of Attorney at any time without the consent of the attorney-in-fact. The revocation is effective once you sign the Notice of Revocation and comply with any legal requirements, such as notarization. However, it is courteous to inform the attorney-in-fact to avoid confusion.
What should be included in a Power of Attorney revocation form?
A Power of Attorney revocation form should include your name and address, the date of the original Power of Attorney, the name of the attorney-in-fact, and a clear statement that you revoke all powers granted. It must be signed and dated by you, and include a notary acknowledgment section. The form provided in the article serves as a template for this purpose.
Is a Power of Attorney revocation effective immediately?
The revocation is effective upon signing and notarization, as indicated in the document. However, third parties who are not aware of the revocation may still rely on the original Power of Attorney until they receive notice. Therefore, it is important to notify relevant parties promptly.
How do I notify others that I have revoked a Power of Attorney?
To notify others, you should provide a copy of the signed and notarized Notice of Revocation to the attorney-in-fact and to any institutions or individuals who were aware of the original Power of Attorney. This ensures they do not continue to honor the revoked authority. The article does not specify a particular method, but sending written notice is advisable.
What is the difference between revoking a Power of Attorney and the attorney-in-fact resigning?
Revoking a Power of Attorney is an action taken by the principal to cancel the authority granted, while resignation is an action taken by the attorney-in-fact to step down from their role. Both result in the termination of the agency relationship, but they are initiated by different parties. The revocation document provided is specifically for the principal's use.
Can a Power of Attorney be revoked after the principal's death?
Generally, a Power of Attorney is automatically terminated upon the principal's death, so a formal revocation is not necessary. However, if the Power of Attorney was durable, it may have survived incapacity but not death. The article does not address post-death revocation, but it is not typically required.
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