Table of contents:
Power of Attorney in New Jersey
A power of attorney (POA) is a legal document that gives one person (the “agent”) the authority to act on behalf of another person (the “principal”). In New Jersey, there are several different types of POAs available, each with its own specific purpose.
The most common type of POA is a general POA, which gives the agent broad authority to act on the principal’s behalf in all matters. This type of POA can be used for a variety of purposes, such as managing finances, making medical decisions, or selling property.
Another common type of POA is a limited POA, which gives the agent authority to act on the principal’s behalf only in specific matters. For example, a limited POA could be used to give an agent the authority to sell a specific piece of property or to make medical decisions for the principal.
In New Jersey, POAs must be in writing and signed by the principal in the presence of a notary public. The POA should also include the name and address of the agent, the powers that the agent is granted, and the date on which the POA becomes effective.
Durable Power of Attorney
A durable POA remains in effect even if the principal becomes incapacitated. This type of POA is often used to ensure that the agent can continue to manage the principal’s affairs in the event that the principal becomes unable to do so themselves.
Springing Power of Attorney
A springing POA only becomes effective upon the occurrence of a specific event, such as the principal’s incapacity or absence. This type of POA is often used to give an agent the authority to act on the principal’s behalf in the event that the principal is unable to do so themselves.
Revoking a New Jersey Power of Attorney
Revoking a power of attorney (POA) in New Jersey is a legal process that ends the authority granted to an agent under a POA. Understanding the methods and consequences of revocation is crucial for both the principal (the person granting the POA) and the agent.
There are two main methods for revoking a POA in New Jersey:
Methods of Revocation
- Written Revocation: The principal can revoke a POA by creating a written statement expressing their intent to revoke the POA. The statement must be signed by the principal and two witnesses.
- Verbal Revocation: In certain circumstances, a POA can be revoked verbally. However, verbal revocation is not recommended as it can be difficult to prove.
Consequences of Revocation
Once a POA is revoked, the agent’s authority to act on behalf of the principal immediately ceases. Any actions taken by the agent after the revocation are not binding on the principal.
It’s important to note that revoking a POA does not automatically terminate any legal obligations or liabilities incurred by the agent while the POA was in effect.
