It is a good habit to review your powers of attorney as well as all of your estate planning documents at least every five years and any time there is a significant change in your life (marriage, divorce, death, adoption, etc.).
The reason is important to constantly review your estate planning documents is that your property and debts will change over time. Your relationships will change. There are certain friends or family members that you will get closer. There are other relationships that may become less significant or estranged.
For example, you may have appointed your brother to serve as your agent of your power of attorney. He may have died, become incapacitated or you no longer have a good relationship with him.
Many documents such as a power of attorney (mandate in Louisiana), give you that authority to change your mind. You do not have to have a reason. You do not have to explain why you want to make the change.
So, just because you sign a power of attorney, doesn’t mean you are locked into it forever. As long as you have capacity, you may change your mind and change the power of attorney at any time.
Should you have any questions, please contact an experienced estate planning attorney.