Power of Attorney (POA)
Delegate your enforcement powers to your family, friend, or acquaintance through a Power of Attorney. Receive your power of attorney, carefully drafted by senior legal experts to balance the powers you have provided.
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Learn more about Power of Attorney (POA)
What is the Power of Attorney?
Power of Attorney (POA) is a legal document through which one delegates certain executive powers to another person. The person who delegates such authority is called the principal, grantor, or donor, and the person to whom such authority is delegated is called the POA holder, agent, done, or attorney. The power of attorney lists the powers that the person delegated to the holder of the POA and in respect of which he/she has authorized the holder of the POA to act on his / her behalf. Experience the convenience of online power of attorney registration and gain peace of mind knowing your legal matters are in order. Additionally, explore our specialized terms of legal service for unrecovered bills, ensuring your financial interests are protected with precision and professionalism.
The holder of the power of attorney can be a friend, family member, or acquaintance because when the principal cannot act on his own, he will entrust a loved one to do it. At Expert Point, we specialize in providing expert legal advice for cheque bounce cases. Our services extend beyond to include consulting services agreements, coworking space agreements in India, NDA agreements in Chennai, and online registered rent agreements. Count on us to navigate the legal intricacies and ensure your interests are protected with precision.
A well-written power of attorney should contain the following:
- Detailed information about the person issuing the power of attorney, that is, the Principal.
- Details of the person who has been authorized, that is, the attorney.
- The reason for the power of attorney.
- Date and place of drawing up the power of attorney and date of entry into force.
- The date of termination of the power of attorney (if it is limited in time). However, if no time is specified, please indicate if the POA is durable or non-durable.
Provides the ability to choose who will make decisions for you (and not for the court).
If someone signs a power of attorney and then becomes incapacitated and unable to make decisions, the specified agent can take the place of the incapacitated person and make important financial decisions. Without a power of attorney, custody or guardianship may be required, which can be very costly.
Avoids the need for custody or guardianship.
Someone who does not have a comprehensive power of attorney at the time of incapacitation will have no choice but to ask someone else to petition the court to appoint a guardian or conservator. The court will choose who will be appointed to manage the financial and/or the health of the incapacitated person, and the court will continue to monitor the situation as long as the incapacitated person is alive. This is not only an expensive process, but another disadvantage is the fact that the incapacitated person has nothing to do with who will be assigned to the service.
Provides family members with a good opportunity to discuss wishes and desires.
Creating a comprehensive power of attorney requires a lot of thought and consideration. One of the most important decisions is who will be the agent. When a parent or loved one decides to sign a power of attorney, this is a good opportunity for the parent to discuss wishes and expectations with the family and, in particular, with the person named as the representative in the power of attorney.
The more extensive the POA, the better.
As people age, their needs change, and their power of attorney must reflect this. Seniors are concerned about long-term care, applying for government benefits to pay for care, and choosing suitable care providers. By not allowing an agent to complete these and other tasks, precious time and money can be wasted.
Prevents questions about the intent of the principal.
Many of us have read about legal battles over a person’s intentions after they become incapacitated. A well-written power of attorney, along with other health directives, can save family members from having to argue or disagree about the wishes of a loved one. Once written down, this document is excellent proof of their intentions, and it is difficult to dispute.
Prevents delays in asset protection planning.
The full power of attorney should include all the necessary powers to make effective asset protection planning. If the power of attorney does not include a specific power, it can greatly diminish the agent’s ability to complete planning and could result in the loss of thousands of rupees. Although some proxies seem long, it is necessary to include all the necessary powers to carry out proper planning.