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Revoking a power of attorney when estate planning

On Behalf of | Dec 18, 2018 | Power Of Attorney | 0 comments

Granting powers of attorney is a common part of the estate planning process. In some cases, however, a grantor may actually want to revoke this power. There are three distinct ways to accomplish this goal. The first is to include a termination date in the original POA agreement. While this is not a common method for revoking this privilege in Virginia or other states, it can work when a client only intends to hand this power over during a specific period of time.

A second way power of attorney is eliminated is upon the death of the principal. When the principal passes away, power of attorney is revoked under the law except for certain special exceptions, such as giving anatomical gifts, requesting an autopsy and making some final arrangements. Termination of power of attorney through a predetermined date or death, however, are not very helpful options for a living estate owner looking for a solution.

The third way to revoke power of attorney is to put the termination in writing. This letter should be sent to the person with power using certified mail with a receipt requested. It should also be sent to places where power of attorney can be used, such as banks or post offices. Once the person receives notification, it is against the law for them to use the power again.

Individuals who intend to give or revoke powers of attorney should seek counsel from a lawyer. An attorney can help their client fulfill their intended estate planning goals even if another party is not cooperating. Power of attorney is an important aspect of estate planning, so finding the right person for the job should be one of the top priorities.