Power of Attorney
Overview of Power of Attorney
A power of attorney (POA) is a legal instrument enabling one individual to act on behalf of another. The authorization to act on behalf of someone is delineated within the Power of Attorney Act 1882. The POA is granted for various reasons, including the individual being abroad, incapacitated, or ill, among others. Consequently, granting a POA becomes a convenient choice as it relieves the individual of their obligations and responsibilities, delegating them to another person. The individual conferring authority is referred to as the donor. There exist several types of POAs, including:
- General POA
- Specific POA
- Deed of revocation of POA
- Durable POA
- Non-durable POA
Our legal experts will listen to your needs and provide guidance on the most appropriate type of POA. Ideally, a POA is bestowed upon someone in whom trust is placed and who comprehends your requirements, thus ensuring alignment with your wishes. A POA can be meticulously drafted by legal professionals who will detail the specific scope of your needs. Trademarkwala is an organization capable of handling such matters proficiently.
Benefits of Power of Attorney
- Relieves Decision-Making Burden: Removes the weight of decision-making from your shoulders.
- Offers Alternative Perspectives: Introduces another viewpoint in decision-making processes.
- Encourages Stakeholder Involvement: Provides an opportunity for stakeholders to express their opinions.
- Ensures Donor’s Intent: The donor’s intentions remain unquestioned.
- Streamlines Legal and Financial Procedures: Reduces unnecessary hassle associated with legal and financial tasks.
- Provides Peace of Mind: Grants peace of mind to the donor.
Procedure of Power of Attorney
- Consultation: Contact our expert lawyers, who will draft a suitable POA for you.
- Requirement Assessment: Our legal experts will inquire about your needs and preferences.
- Drafting: The lawyer will detail the specifics and draft the POA accordingly.
- Signing: The POA must be signed in the presence of two witnesses, who also need to sign.
- Notarization: The POA should be signed by a legal notary.
- Stamp Duty: Payment of stamp duty is necessary, varying according to the nature of the POA.
Required Documents
- Name and details of the parties involved.
- Powers being delegated to the designated person.
- Validity period of the POA.
- Signature of the donor.
Why Trademarkwala?
There are numerous legal clauses and terms integral to a POA. Inclusion of such terms is crucial as they delineate the rights and obligations of the authorized individual. A poorly drafted POA could potentially create complications for the donor, as the authorized individual may exploit it to their benefit. Therefore, it is imperative that a POA is crafted in a manner that aligns with the donor’s specifications.
Accuracy and legality are paramount in the drafting of a POA. Thus, it is advisable that a POA is formulated under the guidance of legal experts well-versed in this domain. Trademarkwala boasts a team of legal professionals who possess comprehensive knowledge of the procedure and legal prerequisites.
We ensure comprehensive inclusion of all pertinent information and key details. Additionally, we offer two rounds of revisions at no extra charge. Our services are tailored to prioritize the client’s needs, characterized by reliability and ethical conduct.