Is a power of attorney still effective after a person’s death?
Before we go into the legality of a power of attorney after the death, let’s define what power of attorney is. A power of attorney (POA) is a legal document that allows one person to authorize another to act on their name. The “principal” or “donor” is the person who gives the authority, while the “agent” or “attorney-in-fact” or “donee” is the one who receives it.
There are numerous sorts of powers of attorney, and they might differ from one another depending on a variety of aspects, such as the objective of the POA, the duration of the POA, the scope of authority granted by the POA, and so on.
The Powers of Attorney Act of 1882 (POA Act) is an instrument that authorizes a person to act as an agent of the person who grants it. In other words, a Power of Attorney is a legal document in which one person authorizes another to act as his or her legal representative on his or her behalf. In this response, I’ll discuss whether or not a power of attorney is still valid after death, as well as the many sorts of power of attorney.
There are two scenarios in which a Power of Attorney is used.
● A revocable Power of Attorney (RPA)
In the case of this type of power of attorney, the instrument is not valid after the death of the person who has provided permission to act on his behalf. If the principal has the right to revoke the power of attorney at any moment, it is considered revocable. In this scenario, the power of attorney is no longer valid after the death of the principal.
● Irrevocable Power of Attorney
In the case of an irrevocable power of attorney, the agent’s authority cannot be revoked until the end of the date, save in unusual circumstances. Irrevocable powers of attorney are typically granted for a lifetime. POA is likewise not valid after death in this circumstance.
Finally, the power of attorney becomes void with the death of the person who granted it. In addition, if the agent dies, files for bankruptcy, or becomes disabled, the power of attorney becomes insolvent. As a result, the answer to the issue of whether a power of attorney is still effective after death is “no.”
If you want to learn more about will. Do read this article – COSTS TO MAKE A WILL IN INDIA
FROM HEMANT K MIDHA