When Does A Power Of Attorney End?

Most commonly, a durable power of attorney ends upon the creator’s death. It is a very common misconception that upon one’s death, the person who holds the power of attorney can continue on with the deceased person’s financial affairs; however, upon the creator’s death, the durable power of attorney no longer works and any accounts under the creator’s name would be under the jurisdiction of the person nominated as personal representative under the last will and testament and appointed by the Florida probate court.

Another way for a durable power of attorney to end is for it to be revoked. A creator is always able to revoke the power of attorney, which is commonly done when the creator is not happy with the actions taken by the power of attorney. Revoking the power of attorney requires special notice to both the agent and all financial institutions. The least common way for a durable power of attorney to end is by including in the documents a date on which it will end.

How Is A Power Of Attorney Revoked?

The two most common ways of revoking a power of attorney is in writing or by having a court invalidate the durable power of attorney. If someone seeks to revoke a durable power of attorney, the person using the durable power of attorney and acting on their behalf needs to receive notice in writing that the durable power of attorney is being revoked. This is very important because a person using a power of attorney cannot be held liable for actions taken after the revocation if they had no idea the document was revoked. Furthermore, if someone wants to terminate or revoke a power of attorney, then the financial institutions that are involved must be advised as well so that they no longer do business with the former durable power of attorney; failure of a bank to honor a revocation notice could result in them being held liable for continued transactions made on the account by the former power of attorney.

Can My Attorney In Fact Appoint A New Attorney In Fact For Me?

Typically speaking, the person named as agent or attorney, in fact, cannot quit and name someone else. If the person named as attorney no longer wants to serve, then that person would end up resigning and the next person named as successor in the durable power of attorney document would begin to serve on the principal’s behalf. If there is no successor agent named in the legal document, then the attorney, in fact, may or may not be able to give that authority to someone else depending on Florida law and the wording of the document. In most instances, it is not possible for an attorney, in fact, to name someone else as an attorney in fact.

Does A Power Of Attorney Ever Expire?

A durable power of attorney does not expire unless the principal passes away or revokes the document, or unless the document itself dictates that it will expire on a certain date. If the durable power of attorney receives unwarranted legal scrutiny by legal departments and financial institutions, then that could create a lot of red tapes. It is advisable to periodically update the durable power of attorney in order to reduce the red tape impact of having to use an older power of attorney and push it through various legal departments that may be inclined to say no due to the age of the document. However, the age of the document will have no bearing on the validity of the document.

For more information on Ending A Power Of Attorney In Florida, an initial consultation is your next best step. Get the information and legal answers you’re seeking by calling (904) 398-6100 today.

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