Reduce your liabilities by knowing how to remove yourself from the power of attorney?

Having the responsibility of someone’s valuable items is difficult and risky. However, as there is a chance of giving a power of attorney, there is also a possibility to resign yourself from the power of attorney. If you are not able to deal with your responsibilities or due to other reasons you have to quit your job as an agent, you can. Now if you are wondering about how to remove yourself from the power of attorney you are at the right place to solve this issue. Continue reading to see the steps for how to remove yourself from power of attorney. 

What is power of attorney?

Power of attorney is an agreement between a principal and an agent. It says that the agent is allowed and has the right to act on any financial decisions on the behalf of the principal. In some laws of states do not require power of attorney to be a lawyer. It has nothing to do with the court. The principal appoints you with their will. So, the orders from the court will not be applied to you. This task is quite difficult not everyone can perform it properly. If you feel uncomfortable and not reliable for this job you can decline the agreement if you want.

How to remove yourself from the power of attorney

This does not include any court orders or actions. You can easily decline the job. No one has the authority to act against your will. Following are the easy steps to remove yourself as power of attorney.

• Warnings of your resignation

Resigning from the position of an agent is easy. You have to tell your principal that you do not want to take the responsibilities from now onwards. Along with informing the concerned authorities, you might need some specific documents for the procedure. Or either way, you can give some written notice to your principal to consider your resignation. Although, in the case of any disability for example: if your principal is not able to understand or suffering from any such disease you can give your resignation to his/her guardian. If there is no guardian you can also give notice to the person who is physically taking care of your principal.

In addition, if there is nobody around your principal you can hand over your documents to the court. The court will appoint a conservator to take care of the financial matters and business of your sick principal.

• The file of resignation document

Usually, you have to submit your resignation file to the principal to notify. But if your principal has taken the matters to the government for any reason. You have to submit the copies of your resignation file to the county public records or offices of land records for notarization. The process gets a little longer if you are responsible for the estate transactions of your principal. 

Whether you want to deliver your resignation notice to the record office or not. Keep a personal record of your documents to prove you have taken your hands off from the principal’s duties.

• Termination reasons

Sometimes you do not have to make particular reasons to give resign. Your power of attorney can also automatically revoke if your principal dies. The court will appoint a conservator, and inform you that you are no longer responsible for the principal’s personal affairs.

Another termination reason is, if you are a power attorney of your partner, the court revokes the powers on the divorce event.  Although, in some cases, if you do not act properly on your duties and your performance is getting weak. However, the principal automatically removes you from the power of attorney.   

How to give power of attorney to someone

Following are the steps are given if you want to give someone power of attorney.

• Decision making of what power you want to give

The first step involves all the decision-making processes for you. However, it includes what power you want to give to him/her and when you want the action to be done. It also includes the plan of giving the authority to the agent for medical care. For example, your appointed agent can make emergency decisions on your behalf. The agent for your medical care is also responsible to instruct your physician with all the treatments you have documented.

• Drafting of documentation

Drafting the documents of power attorney is important. You can consult a lawyer for more advice and show him the documents. It portrays legally that your intentions are real to appoint an agent.

Your POA document should be clear and delivered to all the authorities in the proper language. For a better notarization, you and your agent must sign the POV document. Some states may require this document.

• Files and copies

In the US laws of the state varies. Although, there is no need for proper documentation to submit in court. But before skipping this option you must know what your state law says. However, this is not a compulsory requirement but you should distribute the copies of POV documents to the concerned parties and people who may affect by this deal.

Conclusion

In conclusion, you should make files in spare in case of providing the proof that you are a power of attorney or you have resigned from the position. Make sure to consult a lawyer give him documents to review.