How Do I Cancel a Power of Attorney and Appoint Another Agent?
Full Question:
Answer:
Typically, a person only needs a revocation of power of attorney, with a copy sent to the agent, and a new power of attorney drafted in order to change agents where a successor agent isn’t named. Whether the documents covers financial accounts will be determined by the terms of the document. For example, some powers of attorney are limited to only dealing with financial matters or a particular transaction. General powers of attorney cover a broad range of matters, including financial transactions. Please see the forms at the link below for forms that cover banking matters only, CA-P099H, and broader general forms such as CA-P001.
A durable power of attorney is a written power of attorney by which a principal designates another as the principal’s attorney in fact, even after incapacity. A durable power of attorney must be in writing, must be executed with the same formalities required for the conveyance of real property, so a notary witnesses the signatures.
