With a power of attorney (POA), you are allowed anytime to make changes regarding whether you wish to act for you for healthcare or medical, business, legal or personal matters. A power of attorney in Dubai can be revoked or cancelled together with the authority that was previously granted to a specific person. Similar to the ability of a principal to create POAs, a principal also has the right in revoking powers extended to different individuals or entities.
The official document to revoke, cancel or end a POA should contain the following:
- Who the agent was that was named in the POA to be cancelled;
- The specific condition or time wherein the POA is cancelled effectively (this is usually immediate or upon signing of the document)
Elements of a POA Cancellation Document
In order to cancel a POA, the principal first needs to create a document called a POA revocation letter. The document will identify essential elements, such as the following:
- Former agent – this is the name of the person that was allowed in acting on the behalf of the principal or person who assigned authority
- The principal – the name of the person who previously wanted some assistance for specific or broad matters
- Effective condition or date – this is when the POA is cancelled effectively
- Signatures – principal in a POA and a public notary in Dubai both need to sign the document
As soon as the principal and public notary sign the legal document, an agent will no longer- be able to have authority in acting on the behalf of the principal. It is advised to notify relevant individuals and organizations who have maintained a record of a POA. They are to know the changes enforced and also retain a copy.
Why Cancel a POA in Dubai
There are a lot of reasons as to why you might want to withdraw or cancel the authority that you gave to another person or entity. You may find the need to end a POA if:
- You’ve found out the agent is acting in bad faith or has breached the fiduciary duties
- You’ve become widowed or divorced
- You’re returning from being stationed overseas for a job
- You are no longer absent as you won’t be traveling overseas anymore, which means you’ll be able to manage your affairs on your own
- You have completed extensive travels overseas and you’ve returned home
- You’ve had a terrible experience with an existing agent and is no longer able to trust him or her
Remember that medical POAs in Dubai allow you in naming another person in making medical decisions for you when you become incapacitated. Older adults can be prone to being exploited financially by an agent named in a power of attorney. Fortunately, a POA can be cancelled or revoked in order to undo the appointment of an agent. This will also prevent abuse of the elderly. Always make sure you have a trustworthy agent when you are making a power of attorney.
What Happens When a POA in Dubai is not Revoked
If you don’t revoke or cancel a power of attorney in Dubai, the wrong person can have the legal power in acting on the behalf of the principal which is you. This is not good, especially when your POA assigns the agent authority in handling business and financial decisions.
By creating a POA cancellation with the help of lawyers and legal consultants in UAE, you can prevent suffering any of the following:
- The lost opportunity cost for assigning a trustworthy agent in handling your affairs for you;
- Having no help in untangling the legal or financial mess that has been caused by an agent that did not act in good faith;
- Lost opportunity in trying- to pursue the agent that has wiped clean your bank accounts;
- Massive losses just to dispute all unauthorized transactions that were initiated by a terrible agent or recover money that was withdrawn inappropriately from the bank accounts of the principal;
- Mental anguish from the breach of trust that was given to an agent that abused the authority given to him or her or from losing control over business due to the actions of an agent
- Pain from being scammed by an agent who may have lost your home or have embezzled your life savings
In order to cancel a power of attorney in Dubai or anywhere in the UAE, you need help from lawyers. A legal team will draft the deed of POA revocation for you. The revocation of the POA can also be published in a national newspaper in order to inform all concerned parties.
Take note: the cancellation deed has to be registered with the same exact authority that registered a power of attorney. If you want to know more about the power of attorney and its cancellation, call us here in HHS Lawyers!