3 workable tips to assign power to a suitable person

Do you feel the need to have a power of attorney from Indian consulate for some purpose? Perhaps you were leaving for another country and want someone to run the business on your behalf for a while. It could be that you are about to go through a medical/ surgical process and want to have someone nominated while you are away. Truthfully, both cases would require you to have a POA. It is highly recommended to have a word with your attorney before ordering a POA for a number of reasons. A POA is a document that assigns a lot of authority to another person. No matter how much trust you have on that person, the possibility of abuse of power is still there. To address this issue, the POA document has clauses that give the power to the principle to revoke the POA if and when needed. Keep in mind that assigning a power of attorney can be a little technical if you are doing it for the first time. Here are some tips to help you assign the POA without facing any issues:

Pick an agent

The first step should be to look for a person who you can trust. Remember, assigning a POA is not to be taken for granted. Make sure to all that is required, and stay in touch with your attorney all the time. Continue looking for a trustworthy person until you find one. Discuss the matter with that person to eliminate any confusions that may emerge later.

Choose what powers to assign

In the second step, you will discuss the powers you want to allocate to the agent. It could be something as basic as allowing a transaction on your behalf. Or, as complicated as signing landmark business deals on your behalf. In both cases, your agent will be working for you, so it is up to you to know what powers to assign to the agent.

Save copies of both versions of POA

It makes sense to save both copies of POA from the time you had assigned powers to the agent. These copies will serve as evidence if and when you need it. Make sure to save at least one copy of each to avoid any conflicts from emerging later.

Look at this to learn more about power of attorney and what steps should you take before assigning power to a trustworthy person.