A durable power of attorney is a comprehensive document that allows an individual to relinquish control of their affairs to an appointed agent. There are various reasons as to why an individual might want to allow an agent to manage their personal affairs, and it is possible that over time these reasons might change and a person's situation may require that changes be made to the durable power of attorney.
Power of attorney laws are in place to aid and protect the individual granting the power of attorney, not the individual acting as the agent. There are situations that can arise which may affect a durable power of attorney, such as an agent moving from the area and no longer being able to effectively administer the affairs of the principal, or perhaps the current agent has not been acting in the best interests of the principal. Regardless of the reason, a durable power of attorney can be revoked or changed as long as the principal is still mentally competent to act.
In order to revoke a durable power of attorney, the principal must do so in writing. The principal writes a statement which includes their name and date, the fact that they wish to revoke the power of attorney, the date of the original power of attorney and the name of the agent, the fact that they are of sound mind, and then sign the document. This statement must then be sent to all businesses or entities that have copies of the original power of attorney. If a new power of attorney is drafted, it is important that a clause be inserted that states the previous power of attorney has been revoked.
A power of attorney form can be used to nominate a power of attorney to represent an individual and their affairs in several different areas should they become incapacitated. LegalNature can help you with all of your personal legal form needs. Let us help you get started today. Click here to create your power of attorney form now.