Often, people decide to set up a power of attorney during their marriage. This can help provide peace of mind by allowing spouses to handle each other’s affairs in the event that one becomes incapacitated for some reason. However, things change, and some people may find that their relationship has fallen apart. When this happens, it may be necessary for some people to take a second look at various matters such as their power of attorney. After all, failing to do so could allow an ex to have access to assets as well as financial accounts, which can be particularly concerning in the wake of a bitter divorce.
Many people need to revoke their power of attorney after their marriage comes to an end, so if you have granted these powers to your ex it is important to look into the process of revocation. Moreover, you may want to designate a new person who will have this responsibility and it may also be necessary to provide your former marital partner with notification that the power of attorney has been revoked.
Our law office realizes that these types of issues can be very hard for a person who may be struggling with other stressors, such as divorce matters related to children or other financial considerations. However, it is imperative to make sure that every base is covered during and after a divorce, especially those which are related to your finances, and this may also include revising a will or some other estate-related legal issue.