Appointing a Power of Attorney (POA) is an essential legal step in estate planning. This legal document can provide invaluable protection for your future; ensuring that your affairs continue to be managed according to your best interests, even when you cannot actively participate. However, life is ever changing and there may come a time when you need to revoke a Power of Attorney. If a change in POA is necessary, you hold the power to ensure your Estate Plan remains in line with your current wishes.
Reasons for Revoking a Power of Attorney
Here are a few factors to consider:
- Change in Relationship: If you no longer trust the appointed agent due to a breakdown in the relationship or other concerns, revocation may be necessary.
- Change in Marital Status: Marriage or divorce can significantly impact your estate planning decisions.
- Estate Planning Goals Evolve: You may find that the existing POA no longer aligns with your current intentions and future goals.
- Inability To Act / Disinterest: If your chosen agent is unable or unwilling to act on your behalf, you can revoke the POA to avoid complications.
Consult With An Estate Planning Attorney
Remember that estate planning is a dynamic process. Periodic reviews and adjustments are essential to safeguard your current interests and wishes.
By working closely with an Estate Planning Attorney throughout the process, you can confidently and efficiently revoke or appoint a Power of Attorney while maintaining control over your affairs.
Contact UBFK Law today to schedule an appointment with our experienced estate planning attorney, Shira Frackt, Esq.