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The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
Prepare the POA Document: Draft the POA document, clearly outlining the powers given to the agent, when these powers begin, and any limitations. Legal Formalities: In California, your parent must sign the POA document, and their signature must be acknowledged before a notary public.
Is It Possible to Revoke the Power of Attorney? In California, you can revoke power of attorney for any reason, so long as you are deemed of sound mind. However, it is vital to note that you must have a notary present to witness the process so they can legally notarize the document.
The following is the process to revoke or cancel a POA: The principal must draft a deed/notice of revocation of the PoA. The deed must mention the reason for which the POA is being revoked, the effective date of the revocation and the consequences of such an action.
The principal in a power of attorney agreement can submit forms to the court at any time to alter the agreement. If, as is often the case, the principal is incapacitated, an interested third party can petition the court to invalidate a power of attorney.