Kindly help me create a "POWER OF ATTORNEY." We are opening a new business firm, where my wife and I are the partners. I now require a Power of Attorney to sign office documents as well as cheques.
Thank you for your assistance.
Sincerely,
Regards
From India, Bhopal
Thank you for your assistance.
Sincerely,
Regards
From India, Bhopal
There are generally two types of durable powers of attorney: general and specific. General powers allow the agent to represent the principal in all matters of any scope for an unspecified length of time. This type is useful for spouses and parents who intend to give broad powers to their agent.
Specific powers, on the other hand, limit the agent's authority to only certain areas (paying bills or making health care decisions, for example). Individuals are able to appoint multiple individuals with different powers within the same power of attorney document if they prefer. Some jurisdictions offer a springing power of attorney, which takes effect only when the principal is incapacitated.
These pose some problems, however, when financial institutions insist on verification of the principal's incapacity, which doctors may not release without a privacy waiver form. In most cases, entrusting a lawyer to execute the power of attorney documentation when necessary is the safest route. Your lawyer can also help determine which type of power of attorney to use and guide you through the process.
From India, Pune
Specific powers, on the other hand, limit the agent's authority to only certain areas (paying bills or making health care decisions, for example). Individuals are able to appoint multiple individuals with different powers within the same power of attorney document if they prefer. Some jurisdictions offer a springing power of attorney, which takes effect only when the principal is incapacitated.
These pose some problems, however, when financial institutions insist on verification of the principal's incapacity, which doctors may not release without a privacy waiver form. In most cases, entrusting a lawyer to execute the power of attorney documentation when necessary is the safest route. Your lawyer can also help determine which type of power of attorney to use and guide you through the process.
From India, Pune
CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.