How to Handle POA Revocations

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Question:

How should POA revocations be handled? We recently had a successor attorney-in-fact come into a branch, however we had no knowledge the POA had even been assigned. The individual indicated the original attorney-in-fact wanted to resign. We did not process this request but would like guidance on how to best document such a resignation.

Answer:

A well drafted POA will provide its own method(s) for revocation. Being told by a third party, particularly one who purports to be the successor attorney-in-fact, is not likely to be one of those listed.

Look at the first POA you received. In all likelihood, as far as you are concerned, the original POA is still in effect.