How do you revoke your power of attorney?
I recently received this question, how do I revoke my power of attorney? I don’t want the person that I named as my power of attorney to be my power of attorney any longer because I just do not trust that person. Well, this is the way that you revoke a power of attorney. But in order to understand revoking a power of attorney, let’s just review powers of attorney.
So the players or the folks that are involved in a power of attorney, number one is the principal. If I go ahead and prepare a power of attorney, I am the principal and the other person is the attorney -in-fact or agent. So the person that I name in my power of attorney is my agent and can act on my behalf. I can give this person limited or broad powers depending on what I need.
The power of attorney is an agreement between you, the principal and the agent or attorney in fact, So, if we want to revoke the power of attorney, we revoke it in writing. If the document has been recorded in the County Recorder’s office, you will record a copy of the revocation. If you have supplied a copy of the power of attorney to a bank or other financial institution, you will provide that institution with a copy of the revocation. The next thing that you have to do is put the agent (attorney-in-fact) on notice by sending him or her a copy of the revocation
You must put the agent on notice that they no longer have the authority to act on your behalf.