How to use a General Power of Attorney
A General Power of Attorney allows a person to act and decide on another person’s behalf. This person is granted broad powers to handle the property, financial, legal and other matters of another.
1. What is a General Power of Attorney?
A General Power of Attorney allows a person (the “agent”) to act and decide on another person’s behalf (the “principal”). The agent is granted broad powers to handle the property, financial, legal and other matters of the principal. With Legal Tree you can create a General Power of Attorney covering a broad range of powers and customize them depending on your situation.
2. When do you need a General Power of Attorney?
A General Power of Attorney is necessary if you wish to appoint another person to act and decide on your behalf. It is normally executed when the principal is unable to manage his affairs & decide on his own and will need an agent to act on his behalf. However it may also be executed even if the principal is not incapacitated and just wishes to appoint an agent to manage his affairs.
3. How can a General Power of Attorney protect you?
A General Power of Attorney protects you by ensuring that your property, financial, legal and other matters are taken cared of even if you are incapacitated and unable to decide. It ensures the continuity in the management of your affairs even if something were to happen to you.
4. What is the difference between a General Power of Attorney and a Special Power of Attorney?
Both powers of attorney are used to appoint an agent to act on the principal’s behalf. However they are different in terms of the number of powers granted. A General Power of Attorney is used to grant the agent broad powers to handle the principal’s affairs. On the other hand a Special Power of Attorney is used to grant the agent only limited or specific powers.
5. What information do you need to create a General Power of Attorney?
To create your General Power of Attorney you’ll need the following minimum information:
- The type of principal (i.e. individual or business) as well as name and details (i.e. nationality and address)
- The type of agent (i.e. individual or business) as well as name and details (i.e. nationality and address)
- The powers to be granted to the agent
5. How much is the document?
The document costs PHP 400 for a one-time purchase.
You can also avail of Premium subscription at PHP 1,000 and get (a) unlimited use of our growing library of documents (from affidavits to contracts); and (b) unlimited use of our “Ask an Attorney” service, which lets you consult an expert lawyer anytime for any legal concern you have.
