The main reason for appointing a power of attorney agent is in the unfortunate instance that you become incapacitated or otherwise reach a point of mental decline that has you unable to make sound decisions independently. With this, your appointed power of attorney agent would be essential in making such important decisions on your behalf. However, there are circumstances in which your arrangement may no longer serve your best interest. Read on to discover why you may revoke a power of attorney agent and how a seasoned Monmouth County, NJ powers of attorney lawyer at Margaret M. Mahon, Esq., LLC can help you in doing so.

Under what circumstances would I revoke a power of attorney agent?

It takes a great deal of effort to establish a legal estate plan, especially your legally-binding power of attorney documents. But there may come a time when you no longer stand behind your decision to appoint a certain agent. More specifically, you may wish to revoke your power of attorney agent for any of the following reasons:

• Your agent has passed away: and if you have not disclosed your desired successor agent in your power of attorney document, you will need to appoint a new agent via a new document.
• Your agent has become incapacitated: for example, your agent has gotten sick and has reached a point of mental decline that makes them ineligible to act on your behalf.
• Your agent has expressed their concerns: for example, your agent has moved away and no longer wants the responsibility to act on your behalf.
• Your relationship with your agent has deteriorated: for example, your agent has stolen funds from your account or has gone against your wishes, and you no longer trust them to act on your behalf.

How do I revoke a power of attorney agent?

If you believe that revoking your current agent is in your best interest, then you must formally do so by executing a revocation of power of attorney form. This document usually consists of the following:

• Your name.
• Your agent’s name.
• The date your power of attorney took effect.
• The revocation date.
• A notary public’s certification.

Once executed, you must distribute this document to your financial institutions, your medical providers, or any other party who has a copy of your original power of attorney. Failure to do so may result in complications.

Afterward, you may appoint a new agent via a new power of attorney document. With this, you may want to mention that you have canceled any prior power of attorney documents. Again, failure to do so may result in complications.

Nonetheless, if you are interested in reworking your power of attorney plan, you must reach out to a competent elder law attorney in Monmouth County, NJ. Call us today.