A power of attorney (POA) is a legal document giving one person (the agent or the attorney) the power to act for or on behalf of another person (the principal). The agent can have broad legal authority or limited legal authority to make legal decisions pertaining to the principal's property, finances or medical care. The power of attorney is often used in the event of a principal's illness, disability or inability to sign necessary legal documents for financial or other transactions.Sabkuch Legal is one of the best in the domain in drafting and reviewing Power of Attorney.
Types of Power of Attorney
There are 4 types of Power of Attorney :
General Power of Attorney - In General Power of Attorney, the agent can perform almost any act as the principal can perform, such as opening financial accounts and managing personal finances. A general power of attorney arrangement is terminated when the principal becomes incapacitated, revokes the power of attorney or passes away.
Durable Power of Attorney - The Durable Power of Attorney designates another person to act on the principal’s behalf and includes a durable clause that maintains the power of attorney after the principal becomes incapacitated.
Special or Limited Power of Attorney - In Special or Limited Power of Attorney, the agent has specific powers limited to a certain area. An example is a power of attorney that grants the agent authority to sell a piece of real estate.
Springing Durable Power of Attorney - A “springing” power of attorney is available and becomes effective when a specified event occurs such as when the principal becomes incapacitated.
The Benefits of Power of Attorney are mentioned below:
What is Power of Attorney?
A power of attorney is a legal document giving one person (the agent or the attorney) the power to act for or on behalf of another person (the principal).
What is the main benefit of the Power of Attorney?
The Power of Attorney is often used in the event of a principal's illness, disability, or inability to sign necessary legal documents for financial or other transactions.
Does Sabkuch Legal review already drafted Power of Attorney?
Yes. Besides drafting, we review already drafted Power of Attorney.
How long does it take to draft Power of Attorney?
We try our best to complete your task in the shortest possible time.