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Yes, you can change your estate plan’s powers of attorney

Dec 11, 2018 | Estate Planning

Selecting a person to take over financial or medical decisions in the event of an emergency or medical incapacitation is an enormous step during estate planning. However, family members fall out of favor, close friends become distant and decisions that once made sense might no longer be relevant. In such situations, Florida residents may need to revoke their current powers of attorney in order to establish new ones.

Some powers of attorney include termination dates, but this is not always the case. Many POAs are durable, meant to last and be ready in the event that an emergency or other situation arises. For financial and health care powers of attorney, most people pursue the durable option to ensure that someone will be able to make important decisions in the event of their own incapacitation.

A POA can be revoked by the person who created the document in the first place. The process includes creating a written revocation of the original POA, and the person named as the decision maker must also receive notice. Unless that person is notified, the revocation is not actually considered effective. Sending the revocation notice via certified mail is usually a good idea, although some people also choose to alert the named individual by text or email in addition to the mail.

Most people put a lot of time and effort into choosing the perfect individual to act on their benefit in the event of an incapacitating crisis. It can be difficult to acknowledge dwindling relationships with the people an individual once trusted enough to name in their powers of attorney, but failing to do so can be disastrous. Estate planning is just as important for end-of-life matters as it is for post-death events, so everyone considering these issues in Florida should be certain that they are fully comfortable and happy with their plans.