The ‘power of attorney revocation form’ is a legal document that lets a person put an end to an earlier delegated power. Once signed, this form straight away terminates the rights and responsibilities which were handed to a third party in the original power of attorney document.
How “Power of Attorney Revocation” works
The power acts to reverse an earlier decision which was made with regards to delegating some duties and responsibilities. A form is filled which expressly puts an end to an earlier agreement or delegation of power. This form is signed in the presence of some witnesses and preferably before a notary public.
Several copies are then made and handed to the signatories to the previous agreement. This is to notify the parties of the change of heart and of the new intent. The previous agreement ceases to take effect the moment the revocation is signed and dated.
Common reasons to revoke a POA
There are several grounds on which this agreement may be revoked. Below are some of the common reasons why a revocation may be necessary:
Change in Relationships
In case your agent is a spouse whom you end up divorcing, you might have to revoke the power as it might not be possible for the said person to carry out crucial decisions and undertakings on your behalf. In this case, you might want to bring in a new member or the new spouse you marry.
Change of Mind
People change their minds every now and then. It could be that you no longer trust the agent you had assigned earlier or he is no longer trustworthy anymore. Moreover, you may also decide that you no longer want this power after all! In either case, you have to revoke this power completely.
Death of a Signatory
If it so happens that one of the signatories to the previous ‘power of attorney’ passes on, you will have to revoke the power first and foremost before writing a new one in its stead. In this case, you have to assign someone else in the place of the one you had earlier.
Other than death, it may also happen that the person you assigned as an agent or was a signatory to an earlier agent becomes incapacitated. The same case as above applies this time round too! You have to nix your previous agreement and place a new one in its stead.
Lastly, it may also be that the person whom you selected to be an agent may not be available to transact the business on your behalf. If this is the case, you also want to find a new one who is available and assign him the role of an agent again.
Is a lawyer required to revoke POA?
You do not require a lawyer to revoke a ‘power of attorney.’ This is a task you can conveniently and comfortably do as long as you are mentally competent. Even though a lawyer is not really necessary, you will find the intervention of a lawyer suitable to comprehend those terms and conditions which are too complex for a novice to understand. A lawyer also comes in when notarizing the document.
Power of Attorney Revocation Forms (by State)
Can you verbally revoke a power of attorney?
ABSOLUTELY NOT! The revocation has to happen in the form of writing only.