Power of Attorney
- Authorized documentation
- Providing drafting of Power of Attorney
- Various of Power of Attorney
- Stamped on Power of Attorney
- Renew and durable or non-durable
- Experts Advice
Introduction
Tax and Services, your trusted destination for all your legal needs. At Tax and Services, we specialize in providing comprehensive guidance on the intricacies of Power of Attorney. Recognizing the pivotal role that Power of Attorney plays in legal matters, our dedicated team is committed to empowering you with the knowledge and resources needed to navigate this critical aspect of legal affairs. Whether you are seeking to grant or obtain power of attorney, our platform serves as a reliable resource to demystify the complexities surrounding this legal instrument. Trust Tax and Services for expert insights, reliable information, and a seamless experience in understanding and utilizing the Power of Attorney. Your legal empowerment begins here.”
Advantages of Power Of Attorney
Streamlined Decision-Making
Granting Power of Attorney allows individuals to designate a trusted representative to make decisions on their behalf. This can be particularly beneficial in legal and financial matters, ensuring that important decisions are made promptly and efficiently, especially in situations where the individual may be unavailable or incapacitated.
Continuity of Affairs
Power of Attorney provides a seamless transition of responsibilities in case of unforeseen circumstances, such as illness or incapacity. By appointing an agent through Power of Attorney, individuals ensure that their financial and legal affairs continue to be managed according to their wishes, maintaining stability and continuity.
Efficient Tax Management
The appointed agent under Power of Attorney can handle tax-related matters on behalf of the individual, ensuring timely filing and compliance with tax regulations. This advantage becomes particularly relevant during periods of extended absence or when individuals face challenges in managing their own tax affairs.
Continuity of Affairs
Power of Attorney provides a seamless transition of responsibilities in case of unforeseen circumstances, such as illness or incapacity. By appointing an agent through Power of Attorney, individuals ensure that their financial and legal affairs continue to be managed according to their wishes, maintaining stability and continuity.
Process of Power of Attorney
Placing request
Drafting power of Attorney
Sharing of Ist draft
Sharing of Final Agreement
Types of Power of Attorney
General Power of Attorney
When a person gives another person a complete general right or a power to act lawfully pertaining to his/her property or bank accounts or tax payment, or work of registration.
Special Power of Attorney
A Special Power of Attorney is created when any particular task or specific task or act is to be performed. Once the said particular act is done the Special power of Attorney comes to an end.
Durable Power of Attorney
The Durable POA does not have a set time period and it becomes effective immediately upon the incapacitation of the principal can be used to allow an agent to manage all the affairs of the principals even after principal’s death.
Non- Durable POA
A non – durable POA is prepared for a specific period of time where an agent can take every decision on behalf of the owner but as soon as the validity gets over the non- durable Power of Attorney cannot take any decisions.
Important Clauses of POA
- Name, age, address and occupation of the Principal.
- Valid legal reason for granting the power of Attorney
- Date of termination if it is limited by time. It is to be mentioned if no time is specified whether the Power of Attorney is durable or non-durable.
- The acts which the attorney cannot perform must be particularly stated.
- Details of the Attorney.
- Date and Place of making the Power of Attorney and the effective date of that Power of Attorney.
- Where general power is granted all the acts and areas in which power is granted should be mentioned clearly.
- In the case of a Special power of Attorney, a specific act or task that is needs to be done and completed must be clearly mentioned along with the time limit within which that act is to be done.