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Legal Facts & Information : How to Become Someone's Power of Attorney
In corporations, the grantee or the proxy (the one given the power of attorney) is often an attorney to keep things legal but in truth, anybody can be given a power of attorney, even those who are not lawyers. In fact, this is why proxies like these are often called attorney in fact to differentiate them from attorney at law. You don t have to go to your business meeting in say Uganda to sign documents. You can just send a representative with the power of attorney and that person can sign the contract for you. But for all its benefits, the power of attorney can also be a bane when not done the right way and when put into the wrong hands. You will never know what to expect in the future, so it pays to prepare everything before the going gets tough. That includes planning how to and who will handle your finances, business, and other personal matters should you become unable to do so. This is where the power of attorney comes in. It is a document that allows a person to grant legal authority to another person to make decisions regarding finances, business, medications, health care, and other personal affairs on his or her behalf. Though the durable power of attorney has such characteristic, it is still important for the document to state that it would remain valid even if the principal becomes incapacitated or disabled. The durable power of attorney can be useful in situations when the principal is seriously ill, disabled, and if their property is modest but do not need setting up fund trusts or guardianship. Choosing The Best Agent For Your Power Of Attorney Ever wondered how your modest properties or finances would be managed, in case something happens to you or you would have to go somewhere? Then think about the power of attorney. The power of attorney is a legal document that would enable you to grant a person or organization control over your financial and business matters. The authority usually provided by the legal services specifically for the elderly could be categorized as a durable power of attorney. It is somehow different from the usual and normal power of attorney used. Durable simple means the agent is mandated to continue making decisions for the principal especially if the latter becomes incapacitated.
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