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A Power of Attorney (PoA) can be revoked while the principal is mentally sound. If the principal passes away, it is automatically canceled. To revoke a PoA, the principal must provide written notice to the agent, sign the document in the presence of a notary public, and deliver it to the agent.
If you initialed "real property," giving your agent the power to conduct transactions with real estate, you should also file a copy of your POA in the land records office of the county where you own real estate or expect to transact real estate. In Nebraska, this office is called the register of deeds.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
You can make several different types of POAs in Nebraska. In particular, many estate plans include two POAs: a POA for finances, which allows someone to handle your financial or business matters, and. a POA for health care, which allows someone to make medical decisions on your behalf.
A Nebraska durable statutory power of attorney form allows a person (?principal?) to transfer the power to manage their property and finances to another person (?agent?). The form remains valid only while the principal is alive and does not terminate in the event the principal becomes incapacitated.