How Much Do I Pay My Agent Under a Power of Attorney?
I want to appoint my neighbor to be my agent under a power of attorney for health care. I have no idea what people usually...
Read moreIt should be fairly simple. However, you may need to check the laws in your state to be certain you've done it correctly. Every state has its own rules for POAs.
Acting as a power of attorney is a huge responsibility that takes considerable time and effort. Not everyone is willing to accept this role, and if they do, they may change their mind later for a number of reasons, such as disagreements between siblings or co-agents during critical decision-making. It should be fairly simple to resign as someone's power or attorney. You can start by having an honest conversation with the person who named you as POA and let them know your intentions.
When formally resigning, the document itself may already specify the necessary steps to take. If these steps aren’t spelled out, the best thing to do is write a letter tendering your resignation and send it via certified mail to the person who executed the power of attorney and any co- or successor agents. However, you may need to check the laws in your state to be certain you've done it correctly, as every state has its own rules for POAs.
Local Elder Law Attorneys in Your City
Check with an estate planning attorney in your state if the process of resigning isn't explained on your POA form.
Learn more about different power of attorney documents, including how to decline the role, and how to resign as power of attorney.
Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of ElderLawAnswers.com and answers consumer questions about estate planning issues here and at AskHarry.info.
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