QUESTION
My husband's mother is currently the Power of Attorney for his Inherited Mineral rights Royalties. He is seeking revocation of those rights ASAP.
Asked on Oct 05th, 2012 on Trusts and Estates - Montana
More details to this question:
My husband's mother is currently the Power of Attorney for his Inherited Mineral rights Royalties on out of state property. He is seeking revocation of those rights as soon as possible. My husband was so ill informed of what was happening when he inherited the royalties, he doesn't even have a copy of any of the documents. His mother is unwilling to produce any of the documents pertaining to the inheritance or her appointment of Power of Attorney over my husband's royalties. After a little investigation on our part, my husband believes the best thing to do now, is to revoke her rights as POA. We do not know how to proceed since we don't have the documents and the local court house said they have no record of it. However, the we have IRS documents clearly indicating she is his AIF or Attorney in Fact. Is it easily possible to terminate her power even without all the previous documentation? How do we proceed?
1 ANSWER
Dear Montana,
As a disclaimer, I am in Illinois...but typically a power of attorney can be revoked by executing a new one. So in essence, your husband does not even need to see what the old one said...I advise he consult an attorney and make a new one with language which cancels the old one and then make sure he get copies out to everyone you all can think of who has had any dealings with his mom and his mineral rights royalties....especially the distributor of the royalties...you've got to put them all on notice...send one to his mother instructing her to cease acting as his POA and copies to the financial institution(s)or investment companies she is aligned with so they won't accept any distributions coming from the royalties as well as the IRS just for general purposes. Hope this helps and best wishes with everything.
Answered on Oct 17th, 2012 at 9:16 PM