Power of Attorney

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What is Power of Attorney (POA)

Power of Attorney Act 1882, power of attorney includes any instrument empowering a specified person to act for and in the name of the person executing it.

POA is very well known as Power of Attorney or Power of Authority which is the authority to act for another person in specified or all legal or financial matters. The one who gives an authority to some trustable person is known as a principal or a donor. There are various situations in one’s life where an individual possessing properties, bank accounts, etc. may not be in a position to perform his duties due to reasons like being abroad, physically ill, old in age etc. In such situations, if the transaction requires the presence of the individual who is not able to be present personally, then the only way out is to give the powers to act on behalf of the individual to another person. This is when a Power of Attorney deed is to be created.

The Procedure of makingPOA

step1

Fill in the details mentioned in the draft through a simple power of attorney format on our website.

step2

Select your state and location

step3

Make the payment online

step4

Print the document and register it.

Documents required Power of Attorney

Documents required

Aadhar CardAddress Proof.
Voter IdPassport or any Identity proof

Benefits of Power of Attorney

  • Avoids stability at a particular place
  • Provides the ability to choose who will make decisions for you.
  • Gives an opportunity to the family members to remain as an agent or hold the authority of the Power of Authority.
  • Allows the agent to perform planning and transaction for the principal.
  • If the agent is a family member or a trustable person, then there is no need to worry about anything.

Types of Power of Attorney

  • General POA (Power of Attorney)
    General power of attorney is made when you want to appoint someone on behalf of yourself to complete any legal procedure. At this time General POA can be executed.
  • Special POA for a court case
    The special power of attorney is often used when one cannot handle certain affairs due to other commitments or for health-related reasons.
  • Deed of Revocation of a Power of Attorney online
    If you already executed a power of attorney and would like to cancel that and revoke all the powers, we can help you do that by doing a Deed of Revocation, please let us know and our attorneys at Indolegal will be glad to help you.
  • Durable POA
    The Durable POA can be used to allow an agent to manage all the affairs of the principals. It does not have a set time period and it becomes effective immediately upon the incapacitation of the principal. It does expire upon the principal’s death.
  • Non- Durable POA
    A non - durable POA is used for a specific period of time when the agent can take decisions on behalf of the owner, but as soon as the validity is completed the non- durable POA cannot take any decisions.

Who should use POA? When?

In general, POA is created by anyone who cannot do the transactions due to any circumstances by himself or herself, there can be several reasons for that which are mentioned below :

If you need someone to act in your place when you are not available in the same country If you want to give someone the power to act as if they were you on a short-term basis only When you are mentally challenged, ie when you won’t understand what you are signing You should trust absolutely the person or person(s) you appoint as your attorney(s) What are the different types of POA (power of Attorney)

Power Of Attorney By Non-Resident Indians (NRI)

If a person (Landlord)resides in outer country who has a property in India and wants to give it on rent, so with the help of POA he can complete the entire process of making a rental agreement for his owned property. Sometimes, it can happen that the sale deed can be announced NULL and VOID in case any mistake is done in the execution of Power of Attorney by NRI. In some cases these mistakes are done purposely and most of the times they occur by mistakely. So you need to check each and everything while making a POA by Non- Resident Indians.

Power Of Attorney FAQs

A power of attorney can be abused, and dishonest agents have used power of attorney to transfer the principal’s assets to themselves and others. That is why it is so important to appoint an agent who is completely trustworthy.
A power of attorney can be used to grant any, or all, of the following legal powers to an agent: Manage your property with power of attorney. Buy, sell, maintain, pay taxes on and mortgage real estate. Make legal claims and conduct litigation. Conduct your banking transactions. Invest, or not invest, your money in stocks, bonds, and mutual funds. Attend to tax and retirement matters. Make gifts on your behalf. Use your assets to pay your everyday expenses and those of your family. Buy and sell insurance policies and annuities for you. Claim property you inherit or are otherwise entitled to. Collect benefits from Social Security, Medicare or other government programs or civil or military service. Operate your small business.
No, LegalDocs will provide the entire service to prepare POA.
You are required to sign (execute) only one copy, which is the original one.
You should be aware that the agent should be a trustworthy person and the one who will not cheat you. You can select a person from your family itself such as your better half,Children parents etc.
Yes, you may appoint multiple agents. If you appoint two or more agents, you must decide whether they must act together in making decisions involving your affairs, or work separately.
There are no such bodies or authorities who can keep an eye on the agents, it is the responsibility of the principal itself. You need to make sure that all the transactions done by him are appropriate or not.
You can easily revoke the authority of the agent before it expires.
The POA once signed can stay as long as the principal dies, in some cases it may expire.
An agent must safeguard the principal’s property, and keep it separate from the agent’s personal property. Money should be kept in a separate bank account for the benefit of the principal, and agents must also keep accurate financial records of their activities, and provide a complete and periodic accounting for all money and property coming into their possession. Instruct your agent to provide accurate records of all transactions completed for you, and to give you periodic accountings. You can also direct your agent to provide an accounting to a third party.
Generally, a Power of Attorney that is valid when you sign it will remain valid even if you change your state of residence. It should not be necessary to sign a new power of attorney merely because you have moved to a new state. However, it is a good idea to take the opportunity to update your power of attorney.
An irrevocable power of attorney is a document used in some business transactions which cannot be changed. They are also known as durable power of attorney, durable powers of attorney are typically given to provide someone the authority to make decisions on your behalf in the event of an accident.

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