Full question:
My Power of Attorney says I can delegate any or all of the authority. Is it transferable or assignable? My brother wants (is trying to force) me to give it to him. Is this allowed?
- Category: Power of Attorney
- Date:
- State: Pennsylvania
Answer:
A power of attorney (POA) allows someone to make decisions and act on behalf of the signer, known as the principal. The person given this authority is called an agent or attorney-in-fact. Agents have a fiduciary duty, meaning they must act in the principal's best interest and follow their directions.
Generally, a power of attorney is not transferable or assignable. This means that the agent cannot delegate their authority to someone else without the principal's consent. If your brother is pressuring you to give him your power of attorney, you are not obligated to do so. You retain the right to revoke your power of attorney at any time, as long as you are competent.
To revoke a power of attorney, you must provide a written statement that includes your name, the date, your mental competency, your desire to revoke the POA, and your signature. It's important to notify your agent and any institutions that were aware of the power of attorney. If the POA was recorded, you should also file the revocation in the same office.
In New York, a power of attorney terminates under specific conditions, such as the principal's death, incapacity, or revocation of the agent's authority (N.Y. Gen. Oblig. Law § 5-1511). If you feel pressured or unsure, consider consulting with a legal professional for guidance.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.