Being entrusted with a Power of Attorney over someone’s estate and wealth is no easy task. It consumes all of your time and energy attending to someone’s matters and affairs aside from yours. As a consequence, you miss a lot of important events, milestones, and other family matters. Due to this, you visit the estate owner and express your intention to relieve yourself of the power of attorney, that the former bestowed you. After receiving the nod from the estate owner, the two of you hired the services of a lawyer to draft and complete the Cancellation of Power of Attorney.
What is a Cancellation of Power of Attorney Form?
A Cancellation of Power of Attorney Form is a legal document that extinguishes a power of attorney granted by the principal to the agent. The form itself is bilateral, meaning, that the form or document involves two parties, as signatories and executors. The parties involved in this document are the principal or the estate owner, and the agent or the person granted with the temporary right over the estate. Like every legal document, this type of form is also notarized for it to take effect.
FREE 8+ Cancellation of Power of Attorney Forms in PDF | MS Word
1. Revocation or Cancellation of Power of Attorney Form Notice
2. Revocation or Cancellation of Power of Attorney Form
3. Revocation or Cancellation of General Power of Attorney Form
4. Power of Attorney Revocation or Cancellation Form
5. Cancellation or Revocation of Power of Attorney Form
6. Revocation or Cancellation of Previous Power of Attorney Form
7. Cancellation or Revocation of Medical Power of Attorney Form
8. Durable Power of Attorney Revocation or Cancellation Form
9. Childcare Power of Attorney Revocation or Cancellation Form
What are the Reasons for Cancelling a Power of Attorney?
Taking care of another Person’s property is very exhausting and frustrating at times. That’s why many agents decide to relieve themselves of the duty whenever they find the chance to share such a wish to the estate owner. On most occasions, the cancellation happens for many reasons. The most common cause is the abuse of power and authority given to the agent. Aside from that, listed below are many other reasons why a power of attorney is canceled or revoked.
1. Expression of Intention on the Part of the Principal
As provided by the law, the principal is the only one who has the power to cancel the power of attorney he granted. The expression of the principal’s intention for cancellation may be due to his desire to resume his duties over his property. Or it could be that the agent acted in bad faith against him.
2. Expression of Intention on the Part of the Agent
The agent’s expression to relieve him of the duties and responsibility for the principal’s estate can also cause the cancellation of a power of attorney granted to him. It can only happen if the Agent explicitly expresses his wishes to the principal itself. This event is also useful in case a Durable Power of Attorney was granted to the agent.
3. Incapacity of the Agent
The incapacity of the agent can also cause the cancellation of a power of attorney. It means that if the agent no longer has the capacity to act accordingly with the duties and responsibility granted to him by the principal. Incapacity might mean illness, long-term hospitalization, or death of the agent.
4. Negligence on the Part of the Agent
Negligence means the absence of the practice of due diligence. In this case, the cancellation of a power of attorney due to the Agent’s failure to practice due diligence over the principal’s estate. For example, if the agent was given the right over the affairs of one of the principal’s Real Estate, the agent’s mismanagement will render the property useless to the principal. Because of that, the principal may revoke his agent’s power of attorney and appoint another agent as a replacement.
How to Write a Cancellation of Power of Attorney Form
After you shared your wish to be relieved of a power of attorney to the Principal himself, you’re now looking to make it legally valid. To make your desire of relief a reality, here are the steps on how to make a Cancellation of Power of Attorney Form.
Step 1. Consult your Lawyer
First off, consult your lawyer on the necessary steps on how to make a cancellation of the power of attorney. A lawyer’s advice is mainly valuable when you’re looking into making legally binding forms such as deed forms, contracts, and agreements.
Step 2. Obtain a Cancellation of Power of Attorney Form
After receiving the lawyer’s advice on how to make a cancellation, the next step is to obtain a form itself. To get a form, better download one of the sample Cancellation of Power of Attorney Forms provided in this article. Downloading one of the form samples enables you to create your form in an instant.
Step 3. Review and Fill in the Details
Review the content of the downloaded form right after obtaining one. Edit the content of the cancellation form if you see it necessary to add or remove some information. You may also specify the type of power of attorney that you want to cancel, like a General Power of Attorney, for example. Also, don’t forget to fill the blank spaces with the information asked by the form.
Step 4. Print the and Notarize the Form
After reviewing and completing the Cancellation of Power of Attorney Form, have it printed immediately. Have it notarized after printing the form. Notarizing the document affirms the legality of its stipulations. When notarizing the form, affix both you, as the agent, and the principal’s signature and have it sealed right after.
Step 5. Submit the Notarized Cancellation of Power of Attorney to the Public Registry
After having the Cancellation of Power of Attorney Form notarized by a Public Notary, submit the completed form to your local Public Registry where the power of attorney was registered. What it does is that it effectively revokes the previously executed power of attorney and stores the cancellation of power of attorney as a public record.
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