By: Paul Lorah
Did you have a Power of Attorney drafted a long time ago and wish to change it? Do you feel the person named in your Power of Attorney may no longer be a good choice?
If for these or any other reason you change your mind or become dissatisfied with the person you have appointed to make decisions for you under a durable Power of Attorney you may revoke the power of attorney at any time. We'll go through a few steps you should take to ensure the document is properly revoked.
- You'll need to have an new Power of Attorney document drafted and in it your attorney should state that old powers of attorney are revoked.
- In addition, have your attorney draft a revocation letter stating that the old Power of Attorney documents are hereby revoked and no longer valid. The revocation should also include the following:
- your name
- a statement that you are of sound mind
- the date the original power of attorney was executed
- who drafted the original Power of Attorney
- the person selected as your agent can no longer act on your behalf
You should also get the old power of attorney back from your agent. If you ask and they do not, send the agent a certified letter stating that the power of attorney has been revoked.
Because a durable power of attorney is the most important planning document available for estate planning and long term care planning, if you revoke a power of attorney it is important to have a new one in place. Your attorney can assist you in revoking an old power of attorney or drafting a new one.
Author Paul Lorah is a Medicaid and Long Term Care Planning expert who has authored such books as "Planning and Paying for Long Term Care' and "How to Get Medicaid to Pay for Your Long Term Care Costs".
Questions? Contact us today! 855.471.6771