When planning your estate, it might be necessary to appoint a person to take care of your affairs in the event you are incapacitated. This is done through a legal document known as a power of attorney.
However, it might become necessary to change this document for various reasons, such as changes in relationships, the unavailability of the appointed agent or updates to your preferences or circumstances. Below are the steps involved in modifying a power of attorney:
Notify your current agent
If you are planning to update your power of attorney, it’s important to let your current agent know about your decision. This helps ensure they are aware that their authority is being changed or removed. Being upfront and clear with your agent can help avoid misunderstandings and maintain trust.
Create a new power of attorney
The next step is to draft a new power of attorney document that reflects your updated preferences. You can do this with the help of a legal professional to make sure it follows your state’s requirements. The document should clearly state the name of the new agent and outline the specific powers you are granting them.
Revoke the old document
To revoke the previous power of attorney, create and notarize a written revocation notice stating that the old document is no longer valid. Share copies with your former agent, new agent, financial institutions, healthcare providers the county clerk and other relevant parties.
Sign and notarize the new document
The new power of attorney must be properly signed and notarized to be legally valid. In Texas, this means signing the document in the presence of a notary public or witnesses. Notarization adds an extra layer of authenticity, making sure the document will be accepted by financial institutions and other entities.
Distribute the updated document
Once the new power of attorney is completed, distribute copies to all relevant parties, including the new agent, your family members, financial institutions and healthcare providers. Keeping everyone informed will help ensure the new document is honored without any confusion.
Obtaining legal guidance can be helpful to make sure your updated power of attorney meets all legal requirements and protects your interests.