Date : 29 Dec, 2022
Post By Vishal Kumar
Does Power of Attorney override a will?
What is a power of attorney?
The process of assigning someone else the authority to make decisions, often legally binding, on your behalf, is known as power of attorney. The management of financial assets, signing contracts, making decisions regarding medical care, and so forth are areas which can be covered by a power of attorney. The individual who grants the power is known as the Principal, and the person to whom the power is granted is known as the Agent. The agent can access confidential materials of the principal, and decisions made by the agent are as binding as if the principal had made those decisions themselves.
Typically, power of attorney is a limited grant of authority. You can delegate what is known as general power of attorney in some situations. A person with a general power of attorney can make virtually any decision on your behalf. When the principal knows that they will be incapacitated or unreachable, they frequently give general tasks to trusted family members or friends they have known for a long time.
What is a will?
The legal document in which the testator names one or more people to manage the testator's property and transfers the property upon death is known as a will. A will can be written by anyone who is over the age of 21. After the testator passes away, a will takes on greater significance or takes effect.
Can a power of attorney override or change a will?
In short, no, a power of attorney cannot change or override a will
Writing a valid will is comparatively simple. The only legal requirement is that you must be legally competent to make decisions and that the will must be written down. A power of attorney cannot alter or rewrite a will as long as the will is valid. Even if the principal explicitly states otherwise in their power of attorney assignment, this does not fall within their authority. A power of attorney-drafted will is inherently invalid. On the contrary, a power of attorney can challenge a will if it is invalid and provide justification as to why the will should not be enforced, either in whole or in part. To challenge a will, you usually need to show that the person was not in their right mind, capable of making their own decisions, or in a position to take other legally binding action. The term for this would be "duress." However, this would be uncommon due to the fact that, typically, a person must be deceased before their will can be challenged.
Unless the principal specifies that they wish for the agent to remain in charge after their death, power of attorney ceases in most cases when the principal dies. The individual's legal rights are then transferred to their estate. From there, the estate's executor takes control of the deceased person's affairs. As a consequence of this, power of attorney cannot alter a will while the grantee is still alive because they lack the authority to do so. Additionally, they cannot alter an estate after the grantee has passed away because their role as power of attorney ends when the grantee passes away.
However, power of attorney can still impact an estate
It is essential to understand that a person with general power of attorney can still alter the terms of a will. More specifically, they are able to alter your estate before it actually becomes yours. While it has restrictions, a general power of attorney is a broad award of power. They often have the ability to reorganize your personal finances in accordance with their own best judgment because they can make significant financial decisions on your behalf. If the power of attorney dissolves or alters assets that had been assigned to various heirs, this can functionally invalidate portions of your will.
Your power of attorney may reorganize your assets out of genuine concern for your well-being, without realizing that doing so could jeopardize your estate plan. As a result, if you have a general power of attorney, particularly as part of your elder care plan, you should tell them in advance what you want for your estate.
Are there any differences between a power of attorney and a will
When the distinction between a will and a power of attorney is clearly established and understood, there will be no confusion. Both legal declarations grant rights and powers to another person or agent. Wills and powers of attorney differ significantly in a couple of ways. The length of time it takes for a power of attorney to take effect is the first difference between it and a will. Wills happen after the passing of the departed benefactor and power of attorney takes effect during the lifetime of the departed benefactor. Secondly, the executor's authority is unrestricted in wills, but the agent's authority is restricted in powers of attorney.
In conclusion
A person who has power of attorney cannot alter your will or make a will on your behalf. But that person can change your assets to change how your will works in practice, so before assigning anything, talk to the agent whom you want to grant power of attorney to about your wishes. Furthermore, in the case of wills and powers of attorney in India, it is best to seek the advice of an expert.
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