If you appointed your spouse as your Agent under a Statutory Durable Power of Attorney, divorce terminates your now ex-spouse’s authority to act. The only exception is where the Statutory Durable Power of Attorney expressly provides otherwise.
While termination of the ex-spouse’s authority occurs “by operation of law,” it is prudent for the principal to direct the ex-spouse / former Agent to surrender the now defunct Statutory Durable Power of Attorney. The principal might also wish to take certain actions to notify financial institutions and other important entities of termination of the Agent’s authority to act since these institutions are not liable to the principal unless they have “actual knowledge” of termination of the Agent’s authority.
Speak with a qualified divorce / family law and estate planning attorney for further information on this and related topics.
Author Jim Cramp is a retired active duty colonel and the founder and principal attorney at the Cramp Law Firm, PLLC. The firm provides a spectrum of family law-related services to clients in the greater San Antonio region, across the United States and throughout the world. The firms also provides Wills and Estates and Probate services.