Investing someone with power of attorney means that, if you should become disabled, seriously injured or otherwise incapacitated, another person can make financial or other important decisions on your behalf. Still, some Oregon residents may hesitate to name a power of attorney, fearing that those powers cannot be revoked. However, you have a lot more control over a power of attorney than you may believe.
As explained by the Oregon State Bar, you do have the authority to revoke a power of attorney. The person you designate as your power of attorney is called the agent. In the event you want to take away the authority of your agent, you can. However, you must submit your revocation in writing for it to take effect. There is no guarantee you can revoke a power of attorney simply by speaking your wishes.
There are other ways to limit or end a power of attorney. Some people choose to establish an end date when the power of attorney expires. However, you may also place a date when you want your power of attorney to take effect. Another option is to describe a specific event that can trigger the power of attorney, which is otherwise known as a “springing” power. You might also limit a power of attorney to particular uses.
It is also possible to establish more safeguards to control when your power of attorney goes into effect. In accordance with a springing power of attorney that kicks in when you become incapacitated, you may insist that particular persons, such as doctors that you know and trust, make the determination that you are in fact incapacitated. You may also mandate that the court evaluates your condition.
This is a broad view of how a power of attorney can be controlled. Designating someone to be your agent can seem like an overwhelming choice, but asking legal counsel to help you understand your options may assist in allaying your fears. Since Oregonians have differing concerns as it relates to a power of attorney, only read this article as general information and not as legal advice.
