Power of Attorney Services in Mahalakshmipuram Layout

Power of Attorney Services in Mahalakshmipuram Layout



We are Power of Attorney Services in Mahalakshmipuram Layout.

What is the Power of Attorney (POA)?

A Power of Attorney is a legal document that gives an individual (agent) the power to manage the legal and even some personal decisions for the other individual (principal). The agent can have the powers to make broad legal decisions or these can even be limited, according to the will of the principal. They usually appoint the Power of Attorney when the individual themselves cannot be present to sign their documents. It is a very important decision, and the individual must make it with utmost care.

Types of Power of Attorney for Property or Any Other Asset

When you consult a legal agency for preparing a Power of Attorney, you will come across the fact that there are different types of the POA. They are:

General Power of Attorney (Power of Attorney) - It is made when the donor appoints someone to act on their behalf to complete the legal procedure.
Special POA for a court case- If one is not able to handle certain affairs because of health issues, then one uses special POA.
Deed of Revocation of a Power of Attorney - In special cases, the donor may want to revoke the POA. In such a case, one may consult with a legal agency for Deed of Revocation of POA.
Durable POA- This POA allows the agent to manage all the work of the donor. There is no set period for this. It also becomes effective after the incapacitation of the donor and expires on the donor's death.
Non- Durable POA- It is used for a specific period. As soon as the period gets over, then the validity of this POA also expires.

Eligibility for Power of Attorney forms

One must follow the Power of Attorney format, India mandatorily. There is a specified eligibility criterion, as per the Indian Contract Act, to be eligible for the Power of Attorney forms. The people who cannot claim for the Power of attorney format include:

- Individuals below the age of 18 years
- Mentally unstable individuals
- The individuals who are disqualified by the law

Benefits of POA

Having a POA is beneficial in several ways. Some of the key advantages of POA are:

- It gives the ability to choose who can decide on behalf of the principal
- Provides an opportunity for the family members to discuss their desires and wishes
- Prevents delays in asset protection
- Prevents any questioning about the intent of the donor
- Provides peace of mind
- Reduces unnecessary hassle in the legal and financial procedure