In this form, the Maker acknowledges that he/she created a durable power of attorney by a written instrument. However, the Maker states that he/she revokes the durable power of attorney in its entirety and that the revocation is valid because he/she reserved the exclusive right to amend or revoke the durable power of attorney at any time without the consent of his/her agent.
In Phoenix, Arizona, a revocation of durable power of attorney refers to the legal process of terminating or canceling a previously granted durable power of attorney. A durable power of attorney is a legal document that grants one person (the agent or attorney-in-fact) the authority to make decisions and act on behalf of another person (the principal) even if the principal becomes incapacitated or unable to make decisions. The revocation of durable power of attorney can be initiated by the principal at any time as long as they are competent and of sound mind. This revocation effectively terminates the agent's authority to act on behalf of the principal and nullifies the previously granted powers. It is important to note that the revocation can only be effective if communicated to the agent and any relevant third parties. There are different types of Phoenix Arizona Revocation of Durable Power of Attorney, including: 1. Express Revocation: This is the most common type of revocation and involves the principal explicitly revoking the power of attorney in writing. The written revocation should be signed, dated, and include a clear statement that the durable power of attorney is being revoked. 2. Implied Revocation: In some cases, the principal's actions or conduct may imply revocation of the power of attorney. For example, if the principal appoints a new agent, it implies that the previous agent's authority has been revoked. 3. Automatic Revocation: Certain events may automatically revoke a durable power of attorney without the need for an explicit revocation. For instance, if the principal gets divorced and the ex-spouse is the designated agent, the power of attorney is automatically revoked. It is recommended that the principal notifies all relevant parties (such as financial institutions, healthcare providers, or other relevant third parties) of the revocation to ensure that the agent's authority is effectively terminated. Additionally, the principal should also inform any new agent or legal representative of the revocation so that they can act on behalf of the principal, if required. It is essential to consult with a qualified attorney specializing in estate planning and power of attorney matters to ensure that the revocation is executed properly, in compliance with Phoenix, Arizona laws and regulations.
