How to Revoke Power of Attorney in Georgia
As life unfolds, our plans and circumstances are subject to constant change. Moments of clarity, shifts in personal relationships, or unforeseen events can lead us down different paths, prompting us to reevaluate our priorities and future. Regarding estate planning, these aspects of life may lead us to review, update, and sometimes revoke important documents such as powers of attorney. Revoking a power of attorney is possible in Georgia, but the process involves several important steps and considerations.
What is a Power of Attorney?
A Georgia power of attorney is one of the most important documents to include in your estate planning checklist. A power of attorney is a legal document that grants someone else the authority to act on your behalf in various financial, legal, or personal matters. The person granting this authority is known as the "principal," and the person receiving it is the "agent" or "attorney-in-fact."
In Georgia, several different types of powers of attorney serve various purposes. For example, “general” powers of attorney grant the agent broad authority to make a wide variety of decisions and act on the principal's behalf. Meanwhile, “limited” powers of attorney only allow the agent to perform specific tasks or make decisions within a limited scope.
Have questions about your power of attorney documents? Talk to an experienced Georgia estate planning attorney from the Perimeter Law Group today about your situation.
Why Do You Need a Power of Attorney?
Creating a power of attorney is an important aspect of Georgia estate planning, and there are various situations where having one is beneficial or even essential. A Georgia power of attorney can ensure your affairs are managed according to your wishes, especially in situations where you may be unavailable or are otherwise unable to make decisions. Whether traveling, living abroad, or simply valuing the convenience of delegating some of your responsibilities to a trusted agent, a power of attorney can make certain aspects of your life run much more smoothly.
Most importantly, a Georgia power of attorney can grant your agent the authority to decide if you become incapacitated. Knowing that your affairs will be managed following your preferences when you are physically incapable of managing them can provide substantial peace of mind. Furthermore, a medical power of attorney, often part of an advanced healthcare directive, allows your agent to make medical decisions for you, ensuring your healthcare preferences are respected and followed.
What Are The Main Reasons for Changing Your Power of Attorney?
Changing your power of attorney can be prompted by various life events and evolving circumstances. Some common reasons for revoking or amending a power of attorney include:
Divorce: Individuals often name their spouse as the agent in their power of attorney. When a marriage ends in divorce, you may want to update your power of attorney, as you likely no longer wish for your former spouse to have authority over your affairs.
Estate Planning for a Second Marriage: If you decide to remarry, your estate planning needs can become more complex. You may want to appoint a new agent who considers your blended family's dynamics or appoint your new spouse to be your agent.
Agent Unavailability or Passing: If your chosen agent becomes unable or unwilling to fulfill their responsibilities for any reason, such as moving away, declining the role, passing away, or becoming incapacitated, you must designate a new agent.
Agent Misconduct: Sometimes, an agent may misuse authority or act against your best interests. If you have concerns about your agent's actions or trustworthiness, you may want to revoke their authority and designate a new agent.
Change in Your Wishes or Circumstances: Life is unpredictable, and your goals and preferences regarding your financial and personal matters may change over time. If your views on managing your affairs evolve, you may wish to appoint a new agent who better aligns with your current values.
Steps to Revoke Your Power of Attorney
Revoking a Georgia power of attorney involves a specific process that ensures your intentions are clear and legally binding.
First, you must obtain a Georgia Revocation of Power of Attorney form.
Next, fill out the document and sign and date it.
Create and distribute copies of your Georgia Revocation of Power of Attorney form to all interested parties, including your agent, Georgia estate planning attorney, relevant financial institutions, and healthcare providers.
Keep one copy of the form for yourself and store it safely.
There is no legal requirement to have your revocation form witnessed or notarized, but this practice is recommended. Also, it’s important to remember that once your power of attorney has been revoked, you no longer have a legal agent to make decisions on your behalf. It’s smart to create a new power of attorney as soon as possible to ensure there are no gaps in your Georgia estate plan.
Why You Should Speak to Your Georgia Estate Planning Attorney
Working with a reputable Georgia estate planning attorney throughout your estate planning journey, including the revocation process, is highly advisable. They can help you prepare and complete your estate planning documents, ensure they are valid and legally binding, and help you with important tasks such as witnessing and filing your documents with the necessary authorities. They can also offer valuable legal expertise along the way, advising you of the best strategies and steps to take through each stage of the estate planning process.
How a Georgia Estate Planning Attorney Can Help
If you need assistance creating or revising your will or estate planning documents, Jammie Taire at Perimeter Law Group, formerly the Smith Taire Legal team, can help. We educate our clients on their estate planning options and ensure their final wishes are legally binding. Call us at 678-253-8133 if you have questions about your estate planning or wish to meet with an experienced Georgia Estate Planning Attorney.