Get Your Power of Attorney Today With Finnsdom!
Fiinsdom will go through your key details and requirements and draft a power of attorney for you.
How Does The Power Of Attorney Work?
A power of attorney gives another person legal power to act and make decisions on behalf of another person.
Power of Attorney
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Documents Required from Directors, Shareholders
- Pan Card Copy (Mandatory)
- ID Proof (Any one) – Driving License/ Voter ID/ Passport Copy/ Aadhaar Card
- Address Proof – Latest Bank Statement/ Latest Telephone or Mobile Bill/ Latest Electricity Bill.(MUST be less than 30 days old)
- Passport Size Photograph
Documents Required for Registered Office Address
- NOC – No Objection Certificate from the Owner of the Property
- Address Proof – Latest Telephone Bill or Mobile Bill/ Gas Bill/ Electricity Bill (MUST be less than 30 days old)
What Is a Power of Attorney? - an Overview
A power of attorney (POA) is a legal document that allows an individual to act on behalf of another. The power to act on behalf of someone is elaborated under the Power of Attorney Act 1882. The POA is granted for several reasons, such as the person being abroad, being indisposed, ill, etc. Thus, granting the POA is an easier choice as another person will take care of all your duties and responsibilities without burdening you. The person who grants authority is known as the donor. There are many types of POAs such as: –
- General POA
- Specific POA
- Deed of revocation of POA
- Durable POA
- Non-durable POA
Our lawyers will hear your requirements and advise accordingly as to which POA is suitable. Ideally, a POA is granted to someone who is in the position of trust and knows about your requirements. It guides them to act towards your wishes. A POA can be drafted by legal experts who will enumerate the specific nature of your requirements. Vakilsearch is one such organisation that will handle it for you.
Benefits of Power of Attorney
- Takes the burden of decision making off your shoulders
- Shows another point of view in decision making
- Gives an opportunity for stakeholders to be more opinionated
- The intent of the donor is not questioned
- Reduces unnecessary hassle when it comes to doing the legal and financial procedures
- Gives peace of mind to the donor.
Procedure of Power of Attorney
- Step 1: Reach out to our expert lawyers who will draft a suitable POA for you
- Step 2: Our legal experts will ask you generic questions and go through your requirements
- Step 3: The details will be enumerated by the lawyer and a POA will be drafted
- Step 4: The POA has to be then signed in the presence of two witnesses (witness signature is also required)
- Step 5: The POA is to be signed by a legal notary
- Step 6: Stamp duty is also to be paid. It varies according to the nature of the POA.
Documents Required
- Name and details of the partie
- Powers that are being handed over to the designated perso
- Validity of the POA
- Signature of the donor.
Why Finnsdom?
There are many legal clauses and terms that make a POA. It is very important that such terms are included in the document as they elaborate the rights and duties of the authorised person. A poorly drafted POA can make things difficult for the donor as the authorised person can use it to their advantage. Thus, it is important that a POA is made in such a way that the donor’s requirements are fulfilled.
- A POA has to be factually and legally correct. It is thus prudent that a POA is drafted with the help of legal experts who are experienced in this area
- Vakilsearch has legal experts who are aware of the procedure and legal requirements
- We will ensure that all information and key details are included
- We also allow two iterations at no extra cost. Our service is client-centred, reliable and ethical.
