There are many ways to terminate an effective power of attorney agreement. One of the most common methods by the Principal to revoke the rights of an Agent is the use of the power of attorney revocation form.
This form, similar to the power of attorney (POA) document is a legal document authorized by the Principal to revoke the terms mentioned in the POA document. This article will take you through the information you need to know about the POA revocation forms, where to download them, and how to use them.
What Is The Power of Attorney Revocation Form?
A power of attorney revocation form is used to terminate or cancel the rights and responsibilities bestowed by a previous power of attorney agreement. This form, when signed by the Principal, takes effect immediately and terminates any power held by the Agent to represent the Principal.
The notice of revocation must be sent to the concerned Agents, related parties, institutions, and agencies as soon as the Principal has signed it.
How Does The Power of Attorney Revocation Form Work?
Wondering how to revoke power of attorney? Similar to the power of attorney form, the revocation form must specify the general details like:
- The details of the Agent of the currently effective POA
- The date when the POA should be revoked, which in most cases would be the date of signature
- The Principal's default date when the POA took effect
The revocation form is then signed by the Principal to authorize the revocation of rights from the Agent mentioned. This allows the Principal to change his mind regarding the appointment of an Agent at any time.
The Principal has full rights to terminate a POA agreement just as he/she has the right to create in the first place. The revocation form provides a legal means to authenticate this decision and announce it to the relevant parties so that the Agent does not continue to wield the rights given by the previous POA.
As verbal revocation of power of attorney is not legally accepted, you must use a POA revocation form for terminating a POA agreement.
The requirements for a valid POA revocation are:
- The notary should acknowledge it
- The Agent should be notified with a copy of the revocation form
- All relevant third parties should be notified with a copy of the revocation form. For instance, if the POA was used at the county clerk office, a copy must be sent to the vehicle agencies or land titles offices as well.
When to Use The Power of Attorney Revocation Form?
The power of attorney revocation form can be used by the Principal any time he/she wants to terminate the POA. There might be several reasons why the Principal may choose to end the agreement.
Change in relationship status
When the relationship between the Principal and Agent has changed over time, they might want to reconsider the POA. For instance, the Agent could have been the Principal's spouse. After a divorce, it makes sense to revoke the rights of your ex-spouse.
Similarly, business partners may want to revoke the POA between them when the partnership breaks off.
Change of mind
Power of attorney is usually granted to a person that the Principal trusts. If the Principal loses the trust and does not believe the Agent to be capable, he/she might want to revoke the rights.
Death or incapacitation of any parties involved
When a Principal or Agent involved in a POA passes away, a revocation of POA should be done before writing a new POA.
Similarly, if the appointed Agent has become incapacitated due to certain reasons, the agreement should be revoked so that the Principal can appoint a new Agent.
What Does Revoking a Power of Attorney Involve?
POA revocation is a legal process that involves a written confirmation for terminating and canceling a POA. The POA revocation form can be drafted from any valid template, filled out, signed, and notarized. You can either specify an end date for the POA or revoke the rights immediately, which comes into effect the moment the POA revocation form is signed in front of the notary. The Principal must be of sound mind when signing the revocation.
Once the POA revocation form has been signed, the Principal must notify the Agent(s), and related institutions and agencies where the POA was previously used. The notice can be sent via mail or some form of an official communication channel in a written form.
This will make sure that all parties involved are aware of the change in rights. A POA revocation can be made to take immediate effect even if a different end date has been mentioned in the original POA.
Consequences of Not Revoking Your Power of Attorney?
Until this document is signed and notarized, the Agent can continue to represent the Principal in all affairs as mentioned in the POA. This can lead to confusion, and the Agents can continue to use their POA rights even when you don't intend them to. It can also lead to legal disputes if the Agent takes advantage of the POA rights and causes you irreparable loss.
Verbal revocations are considered invalid by law. Hence it is essential to legally notarize the revocation of power of attorney form as soon as you intend to terminate the POA.
Is a lawyer required for the revocation process?
No. A lawyer's presence is not mandated for signing a power of attorney revocation. As long as the Principal is mentally competent, the POA revocation form will be considered valid. But hiring a lawyer can help understand the legal terms and consequences. A lawyer will also eventually come into the picture when you get the revocation form acknowledged by the notary.
Does the Principal need to give any explanation for the revocation of POA?
The Principal has complete rights to revoke POA whenever they want and is not required to provide any sort of explanation.
Can a power of attorney be irrevocable?
An irrevocable power of attorney is very rare and might be in place due to any special clause mentioned in the original POA. Nevertheless, most POAs can be immediately terminated if the Principal wishes to do so and is of sound mind.
Can an incapacitated Principal revoke POA?
A general POA usually ends automatically when the Principal becomes mentally unstable or is incapacitated.
It is only for durable POAs that the Agent will continue to retain the POA rights even after the Principal becomes incapacitated. Hence it is advised to choose a trustworthy and capable Agent.
How to notify the Agent?
The Agent can be notified of the revocation in any written document, either sent by a person, mail, or through email. Make sure the Agent is notified as soon as the revocation comes into effect.
Can an Agent revoke the rights of another Agent mentioned in the POA?
No. The revocation of POA can only be done by the Principal.
To make sure your POA revocation form contains all necessary details with no mistakes, download it from CoCoSign. CocoSign has a repository of various templates of revoke power of attorney forms and other types of POA forms from which you can choose the right one that applies to your purpose.
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