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The main difference between a Power of Attorney and an Enduring Power of Attorney is that an enduring power still has effect even after you loose mental capacity. A Power of Attorney is a document you can sign appointing another person to act for you regarding your financial matters.
Section 202 of the Act states that if the agent in a principal-agent relationship has an interest in the agency then, the power of attorney cannot be revoked without the consent of the agent.
You can end your lasting power of attorney ( LPA ) yourself - if you have mental capacity to make that decision. You need to send the Office of the Public Guardian ( OPG ) both: the original LPA. a written statement called a 'deed of revocation'
To cancel a power of attorney, the Deed must be signed by the Donor and the Attorney must be informed that their power to act has been revoked. The Attorney's authority doesn't cease until they receive notice of the revocation, so a copy of the form should be sent to each Attorney.
Until an attorney-in-fact's powers are properly revoked, they can continue to legally act for the principal. To cancel a Power of Attorney, the principal can create a document called a Revocation of Power of Attorney or create a new Power of Attorney that indicates the previous Power of Attorney is revoked.
An attorney's signature must also be witnessed by someone aged 18 or older but can't be the donor. Attorney's can witness each other's signature, and your certificate provider can be a witness for the donor and attorneys. Signatures can't be witnessed online and must be done in person.
In most cases if you are using the Power of Attorney domestically, anyone over the age of 18 who isn't named as your Attorney can be a signatory witness. This can be a friend, colleague, family member or any professional.
An attorney's signature must also be witnessed by someone aged 18 or older but can't be the donor. Attorney's can witness each other's signature, and your certificate provider can be a witness for the donor and attorneys.
Power of attorney could be irrevocable or revocableand 'general' if it is made generally for certain acts, for eg, representation before the income-tax department. Further, your power of attorney could be irrevocable or revocable," says Bhakta. Also, your power of attorney may or may not require registration.
Section 202 of the Act states that if the agent in a principal-agent relationship has an interest in the agency then, the power of attorney cannot be revoked without the consent of the agent.