Power of Attorney

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A power of attorney (POA) is a written authorization letter given to another person or organization to manage a person’s financial, medical and pri ...

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How to get a Power of Attorney agreement drafted

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Contents of Power of Attorney

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    Details of principal

    The POA prescribes the details of the person authorizing the other to act or principal. It includes information like name, address, age and occupation.

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    Details of the agent

    The POA prescribes the details of the agent. It includes information like name, address, age and occupation of the agent.

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    Date and place of execution

    The document states the date and place of execution along with the date on which the POA will come into force.

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    Reason for granting POA

    The principal has to clearly state the reason for granting the POA. The reason should be legally valid and should not contain any act against law.

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    Termination

    In case of a time limited POA, the principal shall prescribe the time period until which the POA will remain valid and in force.

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    Powers and Restrictions

    The POA outlines all the powers granted to the agent. The POA clearly mentions all the acts to be done or not be done by the agent. It also includes certain specific acts.

Benefits of Power of Attorney

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    A power of attorney includes all of the powers required to do effective asset protection planning.

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    Provides you the opportunity to choose who will make decisions for you.

Deliverables

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    Dedicated Lawyer Available

    60 Minutes of Talk time with the Lawyer for discussing requirements and changes in the draft

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    First Draft within 3 Days

    First draft of the Document will be delivered within a maximum of 3 working days

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    Finalize Document

    2 Iterations per Document allowed to incorporate your suggestions/changes

Frequently asked Questions

What kinds of legal authority can be granted with a Power of Attorney?

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1) Buy, sell, maintain, pay taxes on and mortgage real estate.
2) Manage your property and Conduct your banking transactions.
3) Invest, or not invest, your money in stocks, bonds and mutual funds.
Make legal claims and conduct litigation.

What is a durable POA?

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A durable power of attorney stays effective until the principle dies or until they act to revoke the power they’ve granted to their agent.

I have a POA; how can I get it reviewed by a Lawyer?

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ezyLegal can help you get your POA reviewed and provide you with the right legal guidance. You can upload your document and schedule your Consultation with an ezyLegal Lawyer.

What is the process of getting the Agreement drafted from ezyLegal?

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ezyLegal offers Standard and Customized Document drafts. If you chose the customized Document option, your call will be scheduled with a Lawyer to whom you can explain your specific requirements. The first draft will be delivered within 2 working days and then you would be allowed 2 iterations to make changes in the draft.

How will the Document be delivered to me?

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The Document when ready will be available on the ezyLegal website (www.ezylegal.in) in your secured Account. You will be notified on email and WhatsApp whenever a new version of the Document is uploaded. You can Log-in and View or Download the document. Copy of the documents delivered by ezyLegal will always be available in your ezyLegal account forever.

Can I Revoke a Power of Attorney for property?

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Yes, You can  revoke a power of attorney for property. In order to do so, you must create a revocation request in writing, giving a copy to all third parties with whom you or the agent do business. Depending on where the power of attorney was filed, you may also be required to submit a revocation request in court

 

Do I Lose Control Over property By Using a Power of Attorney?

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If you create a power of attorney for property to give someone authorization, you still have full control over your property. The POA holder will then have authority to buy/sell/rent  your property and to make decisions related to it, but he or she can’t own or control the property(unless mentioned in the POA) without your knowledge or permission.

Should a Power of Attorney be notarized?

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If you want to give the power of attorney for a property to an agent, or  transfer or encumber title to land in some other way, the Power of Attorney must be signed in front of a notary, who must note that you signed it voluntarily for the purposes mentioned in it.

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