The powers in a POA are specific, especially when custom drafted. You may decide to appoint a person to manage your financial affairs if you are going to be away for a while (military deployment or prison), if you are ill and will be incapacitated (surgery or treatment), or if you are terminally ill and need someone to manage your finances until you pass. In Pakistan the Law of authorised attorneys are governed under the “The Power of Attorney Act 1882”. Each type gives your attorney-in-fact (the person who will be making decisions on your behalf) a different level of control. A power of attorney gives one or more persons the power to act on your behalf as your agent.

by Betsy Simmons Hannibal, Attorney Use a power of attorney to appoint a trusted person to make financial or medical decisions on your behalf.

A “power of attorney” means an instrument signed by or by direction of a person (the donor), or a provision contained in such an instrument, giving the donee the power to act on behalf of the donor in accordance with the terms of the instrument (s.2, Powers of Attorney Act 1996). A general power of attorney gives broad powers to a person or organization (known as an agent or attorney-in-fact) to act on your behalf. The power may give temporary or permanent authority to act on your behalf. It might be used for the sale of stock or a motor vehicle or for a real estate transaction. 1 Interpretation (1) In this Law, unless the context otherwise requires – “ registered ” means registered in the Public Registry and the expression “ registrable ” shall be construed accordingly; and “ registrable power of attorney ” has the meaning given by Article 3(1). Power of Attorney: A power of attorney (POA) is a legal document giving one person (the agent or attorney-in-fact ) the power to act for another person (the principal). General powers of attorney (POA) - this provides legal permission to someone else (known as the 'attorney') to make decisions and sign documents on someone else's behalf.

... Read more Before signing a statutory durable power of attorney, you should ask a lawyer to help you understand the powers that you are giving to the person you have selected.

Back to top. Power of Attorney agents manage your financial responsibilities for you.
The power may be limited to a particular activity, such as closing the sale of your home, or be general in its application. Power of attorney only applies if you are fully aware of the implications of the arrangement. However, the specific language of a power granted will depend on the decisions outlined in the signed document.

A General Power of Attorney gives your agent the same powers yourself, for all legal and financial matters. A general power of attorney is one of the more broad types of power of attorney that grants someone more generalized authorization to handle your affairs. The power of attorney will come to an end if you become mentally incapable of managing your financial affairs. Draft General Power of Attorney to manage the affairs of property or business etc. The power may take effect immediately, or only upon the occurrence of a future event, usually a determination that you … A power of attorney lawyer can help you simplify the estate planning process with the following specific tasks: Advising on the powers that should be delegated and included in your power of attorney; Helping chose the agent; Informing the agent of … A general power of attorney governs all financial powers covered by a power of attorney (like buying or selling a property or otherwise managing one’s assets).


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