In a recent blog post that we published, we discussed some of the different ways in which a power of attorney can be beneficial. There are many different reasons why people move forward with a power of attorney and it is important for you to do what is best from a financial standpoint. From providing peace of mind to support when it is desperately needed, this is an excellent option for many people. With that said, there are also times when someone may decide to revoke a power of attorney, in which case it is crucial to carefully go over the ins and outs of the process.
A number of life changes may prompt someone to revoke a power of attorney that has been granted, from ending a marriage to the actions of another person, an inability to fulfill requirements or even a change of heart. Those who are able to revoke a power of attorney may decide to decide to find a new person who they believe is capable of taking on these responsibilities or they may choose to go without a power of attorney temporarily or indefinitely. As with many other legal matters, each case is unique so it is important for you to go over your own situation and figure out how to move forward.
Depending on what you are going through, there may be a number of options on the table. For more on power of attorney tasks and related legal topics, head over to our wills and trust page.