Monday, June 30, 2014

Power of Attorney Part 5: What if I want to change my POA?

Many people are satisfied after establishing their Power of Attorney. However, things can change and you may lose trust in your Agent, or your Agent may move away. 
 If this is the case, you must:
  1.  Cancel the Power of Attorney.
  2. Notify your Agent and anybody who has been given a copy of your Power of Attorney.
A divorce will affect these documents as well. If your ex/soon to be ex or an in-law is your agent, and you no longer trust them, then you must cancel the old documents immediately, following the rules above.

Additionally, the law automatically removes your ex or inlaws after a divorce. Therefore, if you want your ex or in-law to continue as your agent, then you must sign a new document to “re-affirm” this decision and ensure that your chosen Agent remains in that position despite the divorce.

Click here for Part 6 of our Power of Attorney series.