A power of attorney gives another person the legal right to make decisions on your behalf. This legal tool can be useful in managing finances or health care when you become unable to act for yourself.
However, there are times when keeping a power of attorney in place no longer makes sense. Knowing when to revoke it can help protect your personal interests and avoid future conflicts.
A change in relationship
A common reason to revoke a power of attorney is a change in the relationship between you and your agent. For example, if the agent was your spouse and you get a divorce, it often makes sense to cancel the document. Michigan law may automatically remove a former spouse as agent in some cases, but it remains safer to formally revoke the power of attorney and create a new one.
Loss of trust
Trust is the foundation of a power of attorney. If the agent begins making questionable decisions or fails to act in your best interests, revoking the document is a necessary choice. Signs of abuse might include taking money without permission or making decisions that go against your wishes. In Michigan, the person who created the power of attorney holds the right to revoke it at any time as long as they remain mentally competent.
The agent is no longer able to serve
Sometimes the agent can no longer fulfill their duties. They might move far away, become ill or pass away. If the power of attorney does not name a backup agent, you should revoke it and replace it with a new document.
Updated estate planning goals
People often update their estate plans after major life events like retirement, birth of a child or the sale of a home. If these changes affect financial or medical preferences, a new power of attorney might better reflect current wishes.
To revoke a power of attorney in Michigan, you must sign a written notice and deliver it to the agent and any institutions that may rely on it. This action ensures others stop following the old instructions and respect the new plan.
