A Power of Attorney (POA) is a legal document that gives someone else the authority to make financial, medical, and personal decisions for another person. It is a very important document that should be taken seriously. However, there may come a time when a POA needs to be revoked. This can happen if the person who gave the POA (the “principal”) no longer has the capacity to make decisions or if the person who was given the POA (the “agent”) is no longer trustworthy.
When this happens, the principal’s family members may be wondering if they have the authority to revoke the POA. The answer is yes, but it depends on the situation.
If the principal still has capacity, then the principal can revoke the POA at any time. The principal can do this by completing a revocation form or by notifying the agent in writing that the POA is being revoked.
If the principal no longer has capacity, then whoever has the authority to act on the principal’s behalf can cancel or revoke the POA. This could be a family member, a guardian, or a court-appointed conservator.
In either case, it is important to make sure that the revocation is properly documented. This will help to ensure that the revocation is legally binding and that the agent is aware that the POA has been revoked.
It is also important to make sure that any third parties who were relying on the POA (such as banks or other financial institutions) are notified of the revocation. This will help to ensure that the agent does not continue to act on the principal’s behalf after the POA has been revoked.
Revoking a Power of Attorney can be a difficult decision, but it is sometimes necessary. Whoever has the authority to act on the principal’s behalf can cancel or revoke the POA because the principal no longer has capacity. It is important to make sure that the revocation is properly documented and that any third parties who were relying on the POA are notified of the revocation.