Power of Attorney is an instrument which empowers a specified person to act for or/and in the name of the person executing it. Power of Attorney is guided by the Power of Attorney Act 1882.
POA is also known as Power of Authority which gives the authority in some specified or all legal or financial matters to act for another person. The person who gives the authority to some other trustable person is known as the principal or a donor.
There are various situations where one may not be in a position to perform his duties due to reasons and where transaction requires the presence of the individual who is not able to be present personally like an individual possessing properties, bank accounts, etc. or being abroad, physically ill, old in age etc and such situation might requires a Power of Attorney.
Legal Window has a team of experts providing you with the best assistance, timely delivery and guaranteeing the highest customer satisfaction with respect to legal drafting of Power of Attorney. You may get in touch with our team on 072407-51000 or email email@example.com
Advantages of Power Of Attorney
Process of Power of Attorney
1. Placing request
As we receive a request from you for drafting Power of Attorney, our expert team will share a questionnaire to be filed by you for taking your request forward. In which basic details will be sought like the purpose of creation and type of attorney etc.
2. Drafting power of Attorney
After receiving the said questionnaire and the information relevant for drafting of the Power of Attorney, we will begin to draft the same and if in need we require any other information the same will be sought by us through a call. The drafting of Power of Attorney might take 2-4 business days.
3. Sharing of Ist draft
Once the POA is ready from our side we will share a draft of the same with you for final approval. If you find the same in order the final copy will be shared in a day and if corrections or additions are required then the same will be revised and verified by our team.
4. Sharing of Final Agreement
Our experts will do the needful and the same will be shared with you as final POA.
Types of Power of Attorney
Important Clauses of POA
Sample of Power of Attorney
FAQ's on Power of Attorney
If the agent abuses the powers as specified in power of attorney for dishonest motive to transfer the principal’s assets for its own purpose; that the principal may sue him for the same and it is important to appoint an agent who is completely trustworthy.
You can prepare as many copies as you require and only to be signed (executed), which is the original one.
Yes, multiple agents can be appointed. If two or more agents are appointed, decisions must be made whether they must act together in concern for making decisions involving the affairs and work or separately.
Yes, you can easily revoke the authority granted to the agent before the Power of Attorney expires.
No, it is not necessary to appoint a lawyer for the same; the Legal window will provide the entire service to prepare POA.
It is preferred to select a trustworthy person and the one who will not cheat you. Further, a person from your family itself is a better option such as spouse ,Children parents etc.
There are no such bodies or authorities prescribed who can keep an eye on the agents, It is the sole responsibility of the principal itself who needs to make sure that all the transactions undertaken by him are appropriate or not.
The Power of Attorney once signed can stay even after the death of the principal and in some cases it may expire after completion of the time mentioned in the Power of Attorney.
An irrevocable power of attorney is a document which is used in some of the business transactions which cannot be changed. It is also known as durable power of attorney which is typically given to provide the authority to someone to make decisions on your behalf of the principal in the event of an accident or emergencies.