How Do You Change or Set Power of Attorney?
A power of attorney (POA) is a document in which you, the donor, appoints another person (the attorney) to act on your behalf in legal and financial affairs. The amount of power given to your attorney can be broad or specific, but regardless of the amount of control you decide to give your attorney, it’s crucial to have a POA in place when planning for your future. So how do you go about setting power of attorney? How do you change your power of attorney if need be? Read on as Heritage Law shares some important details on power of attorney and how you can appoint your own POA.
For more information on how a power of attorney works and the types of power of attorney, be sure to check out our previous blog post.
How to Appoint a Power of Attorney
If you’re looking to appoint a power of attorney, there are two routes you can take:
- Seek the advice of a lawyer who specializes in estate planning, or;
- Fill out a standardized form.
Seeing as most people are unfamiliar with this area, it’s usually best to chat with a lawyer to ensure you’re getting the right POA for your needs and that the document is created and signed properly. Once the document has been drafted, you’ll need to sign the document in the presence of a notary.
Some Legalities With Assigning Power of Attorney
In order for a POA document to be legally binding, there are a few criteria that must be met by both parties. Both the donor and the attorney must be:
- Mentally competent, and
- of legal age.
How Do I Revoke My Power of Attorney?
If you need to revoke, cancel or change your power of attorney for any reason, you can do so by giving your attorney written notice saying that his or her power has ended. Any third parties that have been dealing with the attorney must also be notified of the revocation. Again, it’s important that this process is carried out properly to avoid any confusion, so it’s best to chat with your lawyer to make sure things get done right! If you fail to properly inform your POA of the revocation, he or she is still able to legally make decisions on your behalf.
If you have questions surrounding setting or changing your power of attorney, contact the team at Heritage Law for expert advice and service.