Can You Revoke a Power of Attorney (POA) in New Jersey?
A power of attorney (POA) is a legal document that allows another trusted person to act on your behalf. Setting up a POA is an essential part of estate planning. This raises an important question: Can you revoke a POA in New Jersey? The short answer is “yes”—as long as a person is of sound mind, he or she retains the right to revoke power of attorney. Here, our New Jersey estate planning lawyer explains the key things to know about POA revisions.
An Overview of Power of Attorney (POA) in New Jersey
POA is a legal document that grants one person, known as the “agent” or “attorney-in-fact,” the authority to act on behalf of another person, the “principal,” in specified or general financial or legal matters. New Jersey’s Revised Durable Power of Attorney Act regulated POA. There are actual several different types of POA in New Jersey, including:
- Limited Power of Attorney: Limited POA is a type of POA that grants authority to the agent for specific tasks or for a limited period of time—maybe even a single transaction.
- Durable Power of Attorney: Durable POA is effective even if the principal loses his or her legal capacity. It helps to ensure uninterrupted management of the principal’s affairs.
- Springing Power of Attorney: Springing POA takes effect only in situations called for by the document. Most often, when the principal becomes incapacitated.
- Health Care Power of Attorney: Health care POA allows the agent to make medical decisions for the principal when they are unable to do so themselves.
You Can Revoke or Revise a POA (As Long as You are Of Sound Mind)
You have the right to revoke or revise a POA at any time as long as you are of sound mind. It is a legal right that ensures that you can make changes to your designated agent or their powers if your circumstances or preferences change. To revoke or amend a POA, you must communicate your decision in writing and also inform institutions that previously relied on the original document.
POA in New Jersey May Be Revoked By Court for Breach of Duty of Care
What happens if a vulnerable adult is no longer of sound mind? While they cannot revoke power of attorney on their own, that does not mean that the relationship cannot be changed. A court in New Jersey can remove an agent’s authority (POA) if that agent has breached his or her duty of care. A person or entity with POA has fiduciary obligations. They must act in the best interests of a vulnerable adult who is no longer of sound mind. If they fail to do so, another loved one can take action on the vulnerable adult’s behalf to get POA revoked.
Consult With Our New Jersey POA Attorney Today
At Poulos LoPiccolo PC, our New Jersey estate planning attorney has extensive experience handling POA issues. If you have any questions about revising or revoking power of attorney, please do not hesitate to contact us today for a completely confidential initial consultation. Our firm provides estate planning representation throughout New Jersey.
Source:
casetext.com/statute/new-jersey-statutes/title-46-property/chapter-462b-revised-durable-power-of-attorney-act/section-462b-81-short-title
