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Power of Attorney
How do I relinquish the Power of Attorney for my parents and appoint my sister?

How do I relinquish the Power of Attorney for my parents and appoint my sister?

Q: Can a durable power of attorney be transferred?

No, a durable power of attorney cannot be transferred to another person. However, you can revoke the existing power of attorney and create a new one naming a different agent. This process involves notifying the previous agent and ensuring that all relevant parties are aware of the change.

Q: What does it mean when a power of attorney is durable?

A durable power of attorney remains in effect even if the principal becomes incapacitated. This means that the agent can continue to act on behalf of the principal without interruption. The 'durable' aspect ensures that the authority granted does not lapse in the event of the principal's inability to make decisions.

Full question:

I have the durable power of attorney for my parent and have been for the past 17 years. I would like to relinquish this honor to my sister and would like some information as to what the process is for doing so.

Category: Power of Attorney
Date: 04/07/2025
State: Michigan

Answer:

You may resign as your parent’s attorney-in-fact by giving your parent
written notice of your resignation. If the power of attorney is recorded (e.g.,
land records), then the resignation should also be recorded in the same
records.

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.

FAQs

Does guardianship override durable power of attorney?

Yes, guardianship can override a durable power of attorney. If a court appoints a guardian for an individual, the guardian's authority may supersede that of the attorney-in-fact. This is because guardianship involves a legal determination of incapacity, which can limit or eliminate the powers granted under a power of attorney.

What are the disadvantages of a durable power of attorney?

One disadvantage of a durable power of attorney is the potential for abuse, as the agent has significant control over the principal's finances and decisions. Additionally, if the principal becomes incapacitated, the agent's decisions may not always reflect the principal's wishes. There is also a risk that the document may not be recognized by some institutions if not properly executed.

Can a durable power of attorney be transferred?

Do you need guardianship if you have durable power of attorney?

Not necessarily. A durable power of attorney allows someone to make decisions on behalf of another person without the need for guardianship. However, if the principal becomes incapacitated and there are disputes about the agent's authority or if the agent is unable to fulfill their duties, guardianship may be pursued as an alternative.

Which is better, guardianship or power of attorney?

The choice between guardianship and a power of attorney depends on individual circumstances. A power of attorney is generally less restrictive and allows for more autonomy, while guardianship is a court-appointed role that provides more oversight. If the principal is capable of designating an agent, a power of attorney is often preferable.