Of course, it could be revoked especially if you are no longer comfortable about the kind of service or performance your agent is giving you. Be reminded that it is your right to revoke any authority you provide a person through a power of attorney anytime. You should accomplish a revocation form and distribute copies to all institutions and agencies that could be concerned with transactions, including hospitals and banks. With such type of power of attorney, a principal can prepare for certain situations without giving full authority to his or her agent. There are various types of limited powers of attorney. Your choice depends on what aspects of your life need important decisions from someone when you are not able to make decisions for yourself. Also, the scope of the power of attorney will also become ineffective when the principal dies or becomes incapacitated, meaning if they suddenly suffer from an illness, physical or mental. Although some countries accept an oral power of attorney, in the United States, the written contract is still important. As the principal, you have the power to decide the amount of authority you will grant to your agent. You can appoint him or her to manage most of your financial and personal affairs or to handle only a specific aspect of your life. The laws regarding power of attorney vary from one state to another. However, a number of guidelines are common among states, and these rules must be strictly observed by both the principal and the agent. However, in elderly cases, power of attorney could be abused. Financial/material abuse is the second highest rate of elderly abuse with 42%, following psychological abuse (59%). Financial abuse would include misusing the power of attorney, using the adult s money for other purposes, pressuring adults to sell their home or property, cashing out the adult s pension or cheque, or pressuring the adults to buy alcohol or drugs. Before it is too late, you have to designate a trusted person to act and make decisions on your behalf. Should you wait until you become mentally or physically disabled and regret later for not doing it earlier? If you want to protect your assets and secure your financial future, then preparing a POA is one of the best decisions that you will ever make in your life.