Money Management Newsletter: Taxes
and Estate Matters
How to revoke that Power of Attorney
Money Management Newsletter
Has the person to whom you gave a Power of Attorney
(PA) over your affairs not lived up to your expectations, and now you
wish to remove and revoke their authority?
You may have discovered that:
- The PA behaves dishonestly or irresponsibly, or has
lost interest in your affairs.
- The professional PA (lawyer/ trust officer) is now
deceased, retired or moved to another firm.
- A joint or backup PA is now incapacitated.
- A family member PA is now deceased or incapacitated.
The revocation of Power of Attorney document revokes
any existing Power of Attorney. The actual attorney empowered in the PA
must be given a copy of the Revocation of Power of Attorney, spelling
out that all previous authorization to act as the attorney is now over
and not legally binding. If you had more than one attorney authorized,
each should be given a copy specifying the revocation date.
You as the Donor must sign the document. A witness, other than the attorney
or relative of the attorney, must also sign, swear or affirm an Affidavit
of Execution before a Commissioner of Oaths or Notary Public. If the Revocation
of Power of Attorney is to revoke a Continuing (property) or Personal
Care PA, you have to exclude the following as witnesses:
- Your children, spouse or partner
- The attorney, his/her spouse or partner
* * *
- A person whose property or person is under guardianship.
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