Written by Benjamin Kingsley
Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.
Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.
There is no specific expiration date or time limit for how recent a power of attorney (POA) document needs to be. Generally, a validly executed POA remains in effect until it is revoked by the principal, the principal dies, or a court invalidates it. However, there are some important considerations regarding the age and recency of POA documents:
Financial institutions and other third parties may be hesitant to accept older POA documents, especially those that are several years old. This is because they want to ensure the document still reflects the principal’s current wishes and that it has not been revoked. Many banks and organizations have policies of only accepting POAs executed within the last 6-12 months.
For this reason, estate planning attorneys often recommend updating POA documents every few years, even if no changes are needed. This helps ensure the POA will be readily accepted when needed. Some key times to update a POA include:
After any major life changes (marriage, divorce, birth of children, etc.)
If moving to a new state, as POA laws can vary
If the named agent is no longer able or willing to serve
Every 3-5 years as a general best practice
It’s also important to note that some POAs are designed to only take effect upon the incapacity of the principal (known as “springing” POAs). For these documents, the determination of incapacity may need to be recent, even if the POA itself was executed years ago.
While an old POA may still be legally valid, having a recently executed document can help avoid potential delays or refusals when the agent attempts to use it. Consulting with an experienced estate planning attorney is advisable to ensure POA documents remain up-to-date and effective.
Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.
Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.