If your state has accepted new federal rules, you may need to revise your current Power of Attorney paperwork.
Among the states that have lately approved the Universal Power of Attorney Act are Indiana, Colorado, New Mexico, Idaho, Nevada, Maine, and Virginia. (UPOAA). The National Conference of Commissioners on Uniform State Laws developed and supported the UPOAA. This legislation aims to bring uniformity to the vastly disparate state laws governing Powers of Attorney, as well as to provide greater protections against agent misuse of power. Changes in state law resulting from the passing of the UPOAA apply to Powers of Attorney signed previous to the legislation’s enactment. The following are some of the main changes that impact your Power of Attorney if your state recently approved the UPOAA:
If you discover that any of the above changes pertain to your previously written Power of Attorney and you want to revise it now, you can rescind it and establish a new Power of Attorney that conforms with state law.