A power of attorney is a valuable legal document that gives an individual the right to act on behalf of another person for a particular purpose. The party who gains the right to act through the power of attorney is called the agent, while the person on whose behalf the power of attorney is granted is called the principal.
There are many different types of situations where a power of attorney may be helpful or necessary. However, sometimes circumstances change, and the power of attorney may need to be modified or terminated to meet the principal’s needs.
According to California law, a seasoned POA attorney could help terminate a power of attorney in Orange County. Call Amity Law Group today to learn more.
Uses for a Power of Attorney
Many people are familiar with a power of attorney helping an elderly family member manage their finances. However, the document can also be useful in other business and personal contexts.
Limited Power of Attorney
A limited power of attorney may be the best choice if a principal only needs assistance from an agent for a particular transaction or a specific period. For example, a military member deployed overseas and needing an agent in the United States to pay bills could obtain a limited power of attorney. Similarly, a business owner might give power of attorney to an employee to conduct certain business transactions on her behalf while she is on vacation.
Durable Power of Attorney
In other circumstances, a durable power of attorney is a better choice. This type of document is called “durable” because it survives even if the principal becomes legally incapacitated.
A durable power of attorney would be more appropriate when a principal suffering from serious illness grants medical power of attorney to a trusted family member or friend.
The medical power of attorney allows the agent to make decisions about the principal’s medical care if the principal becomes legally or medically unable to make their own choices about treatment. Contact an Orange County lawyer for additional questions on the types of power of attorney and how termination works.
Modifying or Terminating a Power of Attorney
The principal may want to choose a new agent, modify the scope of the power of attorney, or terminate the agreement altogether. In that case, certain steps must be followed to revoke the power of attorney under California law.
Orange County has no central location where power of attorney documents are filed. It is up to the principal to execute a power of attorney and send a copy to the agent and all relevant third parties, such as banks, medical providers, childcare providers, or business partners.
If the principal wants to modify a power of attorney, they need to ask their lawyer to make the necessary changes to the form and send a new copy to all parties with a copy of the original document. However, if the principal is terminating the relationship, they must draft a written statement formally revoking the power of attorney in Orange County.
According to the California Probate Code, this written statement must be notarized. Notifying the agent that the power of attorney has been revoked is very important. Similar to modifying the power of attorney, the principal will also need to tell every relevant third party that the power of attorney has been terminated. Once this is done, the principal may need to meet with their lawyer to identify a new agent and create a new power of attorney to carry out those duties. A seasoned estate planning legal professional could provide more information on this process.
Speak With Orange County Legal Counsel for Help With Terminating a Power of Attorney
Terminating a power of attorney can be a big decision, but knowing that your rights and wishes are respected is essential. A power of attorney gives another person control over a certain area of your life, and you must be confident about the relationship as time passes.
If you need help creating, modifying, or terminating a power of attorney, contact an experienced Orange County lawyer. They could help you think through your situation and create the right type of power of attorney for your needs.
