No, a power of attorney cannot alter a principal’s will; nevertheless, it can give an agent considerable control over that principal’s affairs, including those that may affect the principal’s estate and the administration of their will. I’ll go over the essentials of powers of attorney in this post, including whether or not they can alter a will and other ways they could affect how it’s ultimately carried out.
What is a Power of Attorney?
A power of attorney (POA) is a legal document that assigns decision-making authority to another person.
You have complete control over how much authority your agent has. You can, for instance, grant them the ability to handle financial matters or, in the event of your incapacitation, the right to make medical decisions.
“Durable” or “nondurable” POAs are available. A non-durable POA is only good while you’re competent, but a durable POA continues to be in force even in the event of your incapacitation. A POA that “springs” into effect only in the event of your incapacitation is another option.
What is a Will?
A will is a legal document that specifies what will happen to your possessions and property after you pass away. An advance directive, also referred to as a living will, is a legal instrument that enables you to express your preferences for end-of-life care ahead of time, should you become incapable of doing so.
One of the most important reasons you should have a Will is to provide for your family and your estate after your death. A Will only takes effect upon your passing, whereas a POA grants someone the power to make decisions on your behalf while you are still living.
Can a Power of Attorney change a Will?
The answer is no, which is the succinct response to this query. Nothing in a power of attorney can alter a will. This is because a POA allows someone to make choices on your behalf while you are still alive, but a will only take effect after your death.
However, this rule does have some exceptions. The POA has the right to contest a Will if it is invalid. But this is a unique situation. Only while the recipient is still living does a power of attorney become operative. Because the POA will not be able to contest the will after the grantee passes away, it is almost impossible to do so.
Types of Power of Attorney:
Depending on the kind of authority provided, power of attorney types include:
A general power of attorney gives the agent extensive authority to manage both legal and financial issues. A limited power of attorney allows the attorney-in-fact to take legal action in specific situations, such as selling a specific piece of property, choosing a medical provider, or managing finances.
Financial Power of Attorney: Endows the agent with authority to manage financial matters, including communicating with financial institutions, carrying out specific tasks, and making bill payments.
Medical Power of Attorney: This enables the attorney-in-fact to decide on medical treatment if the principal is unable to do so. When different POA types are valid, this is another way to differentiate them. Various kinds of power of attorney with different durations include:
Ordinary Power of Attorney: These usually start working right away but end if the principal loses mental capacity.
Durable Power of Attorney: In the event of your incapacitation, your durable POA will still be in force.
Springing Powers of Attorney: These take effect upon a specific occasion, like the principal’s incapacitation or disability.
Powers of attorney are very simple legal instruments, and you don’t always require legal counsel to execute one. However, each state has its own set of regulations, and those rules are subject to change. (New York, for example, revised its POA rules in 2021).
To ensure that you follow all the requirements, it can be beneficial to speak with a knowledgeable estate planning lawyer.
In Summary:
Can a power of attorney alter a will, then? No, however, they have the authority to approve important financial choices that affect the conditions around the estate of a principal. An estate planning tool that might be helpful in situations where an individual is unable to manage their affairs is a power of attorney. Additionally, the POA may confer broad ability to manage financial assets, open or close bank accounts, and sign contracts on behalf of the principal, depending on its scope.
Because of this, it’s critical to choose your agent wisely and ensure that the person you choose will act in your best interests—ideally, having a thorough awareness of your priorities and estate planning objectives. It could be beneficial to consult with an attorney who is knowledgeable about the power of attorney laws and estate law in general in your state if you have any issues about how to achieve your estate planning objectives.
