Can I revoke my own Financial POA? I don't want it anymore. - AgingCare.com

Can I revoke my own Financial POA? I don't want it anymore.

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I became both my father's and his wife's financial poa after she had some medical problems a year ago and was in different living facilities for 3 months before moving back home with dad. He wasn't able to understand that her bills needed to be paid too even though she was not there. I soon found out they had massive credit card debt and they had to file bankruptcy. Soon after the bankruptcy dad became mentally unstable and had to go to a nursing home. His wife was told by doctors she was not safe to be alone due to her mental unstability and so she followed him into the nursing home. The last 2 months I have been helping them both get qualified for the medicade for long term care. Dad is a very easy going laid back kind of guy where she is very verbally abusive and just downright mean most of the time. Is there any way I can give my poa over to her daughter? Or can I just revoke my own poa? I am tired of taking her abuse and now that they both have seperate accounts and bills I don't feel like I need to help her anymore. They have both been diagnosed with dementia - that is why they can no longer live on their own. On a side note, I am my father's health poa as well while she does not have one.

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Thanks for the update. As I reread your posts and the responses, I recalled one situation in which someone declined to serve, but I don't recall whether it was someone named as a proxy under a POA or someone named as trustee pursuant to a trust.

The attorney for whom I was working prepared resignations and declinations of responsibility to be signed by the individual, and after execution (witnessed and notarized if I recall correctly), the notice was served on the principal - either the individual for whom the POA was written or a co-trustee or heirs under the trust.

Sorry I don't remember anything more; this was the first time I had ever encountered a situation in which someone didn't want to serve.

In your case, I think that your resignation/declination would be served on your father's current wife, perhaps on her daughter and other children (if there are any) as well.

Good luck; I think you're making a wise decision to put legal and personal distance between yourself and this unpleasant woman.
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Thank you Babalou. I will check with an attorney to find the best way to go about this.
Cwillie, she shares a room at the nursing home with my father, so I have to see her everytime I visit him (for now. my sisters and I don't like this arrangement but they are married so what can we do?) She also has my telephone number and is constantly calling me and yelling at me about things she has forgotten or doesn't understand.
GardenArtist, I have gone over the original document looking for some kind of loophole for any way out of this financial responsibility. It looks like I will just contact a lawyer to find the best way out and to make sure it is done properly.
Thank you all for your advice.
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Check the terms of the POA to see if it allows contracting or subcontracting out to a professional service for very specific tasks, such as financial management.
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There may be a secondary person named in the POA who would automatically become POA if you formally resign in writing. I'm curious though why you need to have any face to face interaction with her, many POAs are able to manage the books from the other side of the country.
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You can resign your poa ( you need to check your state laws to find out how to do this). She might then be able to grant poa status to her daughter, if she can still understand what she is doing. YOU cannot assign her Poa to someone else.

I'd start by talking to the social worker at the nursing home about this.
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