A power of attorney revocation form is used by the Principal to revoke an already executed power of attorney. The revocation of power of attorney refers to destroying every copy of any existing POA documents and creating and executing a new power of attorney.
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Revoking a power of attorney:
If the Principal holder no longer needs their agent to act on their behalf then they may revoke a power of attorney. The process of revocation may vary on the basis of the type of POA initially executed. In addition, the principal must have the mental capacity of making decisions at the time of voiding the document. In case, the principal is under physical restraint or can’t able to communicate effectively then the court appoints someone on behalf of the principal holder to revoke the power of attorney.
Reasons for revoking a power of attorney:
Here are the most typical reasons for revoking a POA;
- The POA form grants when there has been mismanagement or abuse of the powers.
- When the agent used or attempted to use undue influence to force the principal to give away assets and violate the terms of a power of attorney.
- When the agent has been accused of a non-financial crime, especially against a principal.
- If the agent isn’t interested to hold a power of attorney.
- If the Principal gets mentally fit and takes back control of their affairs.
- Due to availability issues, the agent can no longer handle the principal’s affairs.
- The relationship between the principal and the agent doesn’t remain the same and the principal no longer trusts the agent.
- The POA terminates by default in case the principal becomes incapacitated and their POA is non-durable.
How to revoke a power of attorney?
Consider the following steps to make sure the revocation of power of attorney is valid;
Draft a document
You must prepare a revocation form first. You can find many templates of the power of attorney revocation forms online. You as a holder can fill them out independently. If the Principal isn’t sure of how to fill out the document and wants to avoid any legal issues that may arise in the future then they can hire the services of a competent attorney who will fill the document on their behalf. Moreover, it is important to make sure while filling out the revocation form that the dates, names, and addresses of the agent and principal are accurate. Also, ensure that specific third-party information is mentioned correctly. You should also fill out the state and county in which the POA is in effect.
Signing, notarizing, and witnessing the form
After filling out the revocation of power of attorney form accurately, the principal holder should sign it. In front of a notary public, the signing of the form should be done. At least two disinterested witnesses are required to prove that the document is legitimate. The notary official also has to sign the form. Specify the county and state where the revocation form is signed. Don’t forget to place the official seal on the document.
Record the document
After signing and notarizing the POA revocation form, you have to file and record it with the appropriate authority or court registry to make sure a record of the revocation action.
Copies of the original form should be made once the revoked power of attorney is recorded in the relevant court registry. Then, issue them to the holder’s agent and all relevant organizations and entities who were previously informed of a POA.
Free Power of Attorney Revocation Form
Notice of Revocation of Power of Attorney Form
Printable Power of Attorney Revocation Form
Revocation of Power of Attorney
In conclusion, the Principal requires a revocation of power of attorney form in order to revoke an already existing power of attorney. The agent or attorney-in-fact and institutions or entities who are using the holders’ power of attorney must obtain the completed and the signed document.