Have you ever wondered if you can change your mind after giving someone Power of Attorney (POA)? This is a common question, especially as life’s circumstances shift and evolve. The power of attorney, a legal document entrusting someone else to make decisions on your behalf, is not set in stone.
In fact, there are several situations where revoking this authority not only makes sense but is also well within your rights.
Change of trust
When it comes to granting someone a POA, trust is vital. As the principal, you must be confident that the person you’ve chosen, known as the agent, will act in your best interest. But what happens if that trust falters? If you find that the agent is proving to be untrustworthy or incompetent, it might be time to revoke that designation. This is one of the most common reasons for revocation.
Change of circumstances
Granting POA might have suited your life situation when you did it. However, as the principal, your condition could shift. Events such as marriage, divorce or recovery from an illness could significantly change your life. If these or other changes occur, it is worth considering whether the existing POA still serves your best interests. If it no longer does, revoking that power and creating a new one that better aligns with your current circumstances is a valid option.
Completion of tasks
If you established the POA for a specific task or period, there may come a time when the agent has completed that task or the period has ended. As the principal, you have the power to decide. If the power of attorney you established no longer serves a purpose, you can choose to revoke it. After all, it’s all about ensuring your legal arrangements fit your current needs and circumstances.
In Virginia, you have the right to revoke a POA. After doing so, sending a written revocation notice to the appointed agent is essential. It might also be necessary to inform any third parties, like banks, where the agent used the POA. If the agent can no longer serve, or should they misuse the POA, rest assured that your rights are protected. You have the authority to appoint a new agent, ensuring that your affairs are managed in line with your wishes.
