How to Revoke a Power of Attorney
Finder Law Serves Clients Across Jefferson City, Columbia, and Central Missouri
If you’re familiar at all with estate planning, you know one legal document involved is called a power of attorney. But what happens if a life circumstances or relationships change & you would like to revoke that power of attorney? Keep reading for helpful information and tips.
What Is A Power of Attorney?
A Power of Attorney is a legal document that designates a person (and usually successor designees) to act on your behalf if you are unable to make decisions for yourself. They would be able to make decisions about your finances, medical care, investments, property, etc. It gives this person authority to do anything that you would otherwise be able to do if you were mentally and/or physically capable. Most often we see spouses chosen as one’s power of attorney, but you can choose a sibling, child, grandchild, or anyone you trust. Because relationships can be complicated and divorces are common, you may find yourself in a position where you are no longer comfortable with your prior choice.
How To Revoke a Power of Attorney
In Missouri, the process of revoking a power of attorney is quite simple. First, you must orally or in writing, give notice to your existing agent. However, it is recommended that you do so in writing in order to maintain a record of this notice. If the person you have previously chosen has passed away, you do not need to complete this step.
Common Reasons for Revoking an Existing Power of Attorney
- Divorce – If your ex-spouse was your Power of Attorney, you will almost certainly want to choose someone else.
- Death – If your chosen agent has passed away, it is necessary to choose someone else that is able to act on your behalf.
- Loss of trust – Relationships can be tricky & you may no longer feel that you can trust the judgment of the person you previously chose. This can happen for a variety of reasons but would be a valid reason to revoke your existing document.
- Geography – Perhaps you have moved, or your chosen agent has moved & from a practical standpoint, it would be difficult, if not impossible, for them to fulfill their duties. You may want to consider choosing someone who lives nearby & would have an easier time with the responsibilities that would be required of them.
- Agent request – It is possible that the person you previously chose may come to you & ask that they no longer be the designee to act as your power of attorney. You want to elect someone who is comfortable with the powers this would entail, so this is another reason to revoke your existing document.
It is important that before revoking your power of attorney, you are prepared to execute a new document naming a new person as your power of attorney. These documents have important powers & implications for life circumstances that can change in an instant. Working with an experienced attorney like Daniel Finder of Finder Law, LLC will help ensure that you are protected & comfortable with the person who will make decisions on your behalf should you become incapacitated.
Do you have an existing power of attorney that you would like revoked? Call us today to schedule a consultation.
