In Indiana a “power of attorney” means a writing or other record that grants authority to an attorney in fact or agent to act in place of a principal. (I.C. 30-5-2-7) Clients will often want to know when a power of attorney terminates. There are several events which will cause a power of attorney to terminate. The power of attorney generally terminates automatically upon the death of the principal. If it is given for a specific term or task, it terminates when the term expires or when the task is finished if the principal is still alive. The principal may revoke (cancel) it at any time by delivering written notice of the cancellation (revocation) to the agent and if the power of attorney was recorded, the cancellation (revocation) must also be recorded.
If you are either a principal or an attorney in fact (agent) and have specific questions about a power of attorney, you should consult with one of the lawyers at May Oberfell Lorber who will be happy to assist you.
This article is for information purposes only and is not intended to constitute legal advice.