Did you know that the Power of Attorney is among the most common, and popular legal documents in the world? If you didn’t, then you should, as you are in need of one now. Your business and personal belongings are all well and intact, but you have plans to fly abroad for a month. In that case, you will have to do something about your business. Who will look after it in your absence, and who will take care of your properties behind you? There is something you can do about it – and that is where you need to have Wills in Dubai. However, before hiring an attorney to write your POA, you should keep in mind a number of things. First of all, you should understand the power behind this document. It is true that POA is common these days, but that doesn’t make it less powerful. Remember, the POA is all about authority, and the person who wants to have the document gives out that authority. On the other hand, the nominee will be given the power as per the wish of the POA maker. In order to keep things on track, you must avoid the following mistakes:
Allocating too much power
Truth to be told, the person who is appointed as the in charge in the POA is going to enjoy all the power. He will be at the helm of affairs and in your absence, there is little you can do about it. To make sure that the power is not abused, you must take measures to keep a check on the agent (nominee). Never allocate too much power to the agent. Always consult your attorney on how to approach the matter when nominating the agent. Either way, it is a given that you do not end up allocating power without putting checks over it.
Interestingly, if you end up allocating less than required power in the POA, it will still fall short of your expectations. Drafting a POA with less than required authority will result in the agent not being able to accomplish the task that you wanted him to. A POA must always contain a specific timeframe. If it doesn’t, it will give the agent the authority to use the power even after you have arrived. That may result in abuse of power, which is something you wouldn’t want, so make sure to specify the timeframe in the POA.
Find out here now more about the POA especially if you have offshore company formation in Dubai in mind.