When we talk about general power attorney ’in it – general powers are given to a person who is known as the agent or attorney-in-fact. Financial and business transactions’ buying life insurance’ claims settlement’ business interest operations’ and the employment of professional help are some of the powers that are given to the agent i.e. person who has power on attorney.
We will find out here now as to what a special power of attorney means. The powers that would be given to an agent can be specified by you’ yourself – if you sign the special power of attorney. When the person who originally owns the power of attorney’ falls sick’ has other serious health conditions or has any other reason due to which he can’t exercise the power’ he can use the special power of attorney. Special power of attorney lets you exercise powers such as selling property’ managing real estate’ handling business transactions and collecting debts. This is a very useful thing as it allows you to still exercise your rights even though not by yourself.
Let’s learn about durable power of attorney now. Here we can suppose a case where a person becomes permanently ill’ or mentally sick due to which he can’t use his power of attorney for a long period of time’ – In such a situation’ durable power of attorney allowed you to keep your power valid to safeguard yourself from any problem then or in the future. But this can’t be useful until a doctor gives you a certificate which tells that you are mentally incompetent so that it can be made sure that you are actually not able to use your power.
The Power of attorneys in Abu Dhabi are quite effective and useful too. They allow you various other options too in case you are not able to exercise your power of attorney’ and someone else who is trustworthy can still use your power on your behalf. You don’t have to worry about it being misused because there are several options. You can choose yourself’ what powers you want to allow the person to be able to exercise on your behalf so you can be sure that its not being misused. Your agent cannot act on your behalf unless a certified copy is provided to them as this is not allowed by banks and other businesses. So make sure to get your documents completed according to the rules and then you ll be able to make use of it as per your choice.