Don’t accidentally revoke your power of attorney

Cancel 2

Cancel 2Powers of attorney are like wills; if you do a new one, it automatically revokes the old one. Today I have a quick tip to avoid accidentally revoking your old power of attorney: if you have a professionally drafted POA, don’t sign a bank POA. It may look completely different, and only deal with your property at that particular bank, but it will, in fact, revoke your other POA that deals with all of your assets unless it specifically says that it will not. If you have a full POA, you can use it at the bank without using their form.