Review your document every five years or so to make sure your needs and wishes are still the same. If you have a major life change, such as divorce, remarriage, or a move to another state, think about revising it. Few people enjoy being out of control at any age. Attorney Cindy Lynn Wofford recalls a case in which an elderly man lived alone is a state far from his son. The man was gave his son permission to sign checks on only one account, although he had several.
Most state laws let a capable principal substitute agents or revoke poa .
If you do revoke a poa , notify all interested third parties immediately. Unless someone knows about the revocation, he can rely on the poa . That depends on who you name and how complex your affairs will be. If your aif is a close relative, he or she won't normally be paid. But you can decide to pay them.