Friday, November 19, 2010

Why Do You Need a Power of Attorney?

Is your spouse working outside of the country or deployed somewhere else of quite a distance? Are all family accounts and utility services in your name? Do you intend to buy a property that needs marital consent? Or is your spouse on a business trip and there are some documents in the office that needs your spouse's immediate attention? If yes, you should have readied a power of attorney while your spouse is out for work somewhere else, or you will find yourself helpless to act on behalf of your husband or to attend to this matter in case problems arise.

If you and your spouse have an existing business wherein you are not the registered owner but your spouse, although said business is considered to be a conjugal property but he is the only authorized person to sign on all the documents and transactions and there are some urgent matters that should be resolved and cannot wait for the spouse to return from the trip, and attend to your business concerns, all you need to do is to have a power of attorney always ready on hand so that in case a call of urgency arise and your spouse is not around to oversee the matter of urgent concern, you can act on his absence A power of attorney will is a written legal form executed but the principal that grants authority to an agent or a representative, in this case it is you being the spouse, to act in behalf of the principal, in this case it is your spouse. If a business transaction requires the signature and if you are not listed in the account as one of the authorized signatory, you will not be able to help or act to complete the business transaction if your spouse is still away and you do not have an appropriate power of attorney.

You may just search through the internet for a ready power of attorney forms which you can just copy and fill in the vital information needed in your favor or if you do not rely on the internet, though it may cost you a little money and a little of your time and effort, you can just visit any legal office and ask for assistance, and they can prepare a power of attorney for you. To avoid wasting time going back and forth of the legal office, go to the legal office with your spouse when he is available because he is the one who will execute the power of attorney. It is also good to call ahead and inquire, so that you may ready the needed requirements before going to the legal office.

Your spouse may execute a general power of attorney, to grant you as his agent, the authority to carry on usual business matters for him as the principal even if he is away, like signing checks, paying bills, approving office disbursement and signing contracts, if necessary.

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