To end power of attorney (“POA”), the process is not about screaming. Instead, there is a specific process for revoking this type of estate planning document.
The person who creates a POA on their behalf is called the Principal. Ideally, the Principal didn’t formulate this type of estate document and distribute the document as if it was a baseball card.
Luckily, there is a process for ending this type of agreement.
Powers to Revoke a POA
One way to revoke a durable power of attorney is to utilize the revocation form distributed by the Attorney General’s Office. As we can see under Minn. Stat. 523.11, Minnesota has lots of conditions and requirements for terminating or “end power of attorney” between the principal and and attorney-in-fact.
When the Principal is incapacitated, the conservator or guardian of the principal has the same power the principal would have to revoke, suspend, or terminate all or any part of the authority granted.
Other Reasons to End Power of Attorney
Of course, there are many reasons that a person might desire to end or terminate their power of attorney document. This includes but is not limited to:
- Changes to the Principal’s financials
- Changes in health,
- IRS and Audit Concerns related to a Gift,
- Births or Adoptions,
- Injuries, health problems, or deaths to any attorney-in-fact,
- Marital changes, the death of a spouse, or divorce,
- Fallout with friends or family,
- International travel,
- A change in your thought and beliefs towards organ donation,
- A revision to other estate planning powers managed by a Trustee or Fiduciary,
- A change in feelings towards Agents, Beneficiaries, Guardians, Trustees, and Personal Representatives,
- Moving or residing in a different state, and
- A change in State or Federal law.
So, as you explore the process for terminating powers and authorities granted within a durable power of attorney document, consider the revocation process defined under Minnesota law.