Last updated July 20, 2022 Show
What is a Power of Attorney (POA)?A Power of Attorney (POA) is a document that allows one person to appoint another person to act on their behalf concerning finance, real estate, business, and more. Within a Power of Attorney, if you are the one granting authority to a representative, you are called the principal. The personal representative you appoint is called the attorney-in-fact (also known as the agent or mandatory, depending on your state). Who should have a Power of Attorney form?Although many different situations can prompt a person to create a Power of Attorney document, POAs are used to allow someone to act on your behalf when you are not available or capable to act for yourself. You might want to consider making a POA if:
A Power of Attorney is critical to have in the event of unforeseen circumstances, and thus, is often a key document in one’s Estate Plan. For example, if you suddenly become ill or are involved in a serious accident, having a Durable Power of Attorney in place will allow your attorney-in-fact to manage your affairs until you are better. What powers can you grant to your attorney-in-fact?Not all Power of Attorney documents grant the same level of power. You can grant your representative the ability to act in any or all of the following areas:
A Power of Attorney can also give your attorney-in-fact other powers, such as:
What are the different types of Power of Attorney forms?There are two main kinds of Power of Attorney documents: an ordinary POA and a durable POA. Ordinary Power of AttorneyAn Ordinary Power of Attorney is valid as long as the principal is competent (meaning they’re capable of making their own decisions and not incapacitated). Durable Power of Attorney (DPOA)A Durable Power of Attorney (also called an Enduring Power of Attorney) is valid regardless of whether you, the principal, are competent. This validity means it will remain in effect even if you become incapacitated. A Durable Power of Attorney remains in effect until you revoke it or die. All Power of Attorney documents are either Ordinary or Durable. However, there are also three different terms that describe how and when the Power of Attorney can be used: General Power of AttorneyA General Power of Attorney gives an attorney-in-fact the authority to make any of your decisions regarding finances and property. Specific Power of AttorneyA Specific Power of Attorney provides an attorney-in-fact with the control to make decisions for a particular purpose (e.g., buying or selling a piece of property). Springing Power of AttorneyA Springing Power of Attorney means the principal chooses when their Power of Attorney (either Ordinary or Durable) comes into effect, usually on a specific date or when you become incapacitated. For a Power of Attorney to come into effect after you become incapacitated, it must be Duable. It’s essential to know the differences between the documents and to make sure you have the right Power of Attorney for your situation. Choosing a General or Specific Power of Attorney may depend on:
How should I choose an attorney-in-fact?To choose an attorney-in-fact, you must consider your options carefully. Aside from your personal preferences, there are also legal requirements for who you select. Your attorney-in-fact may not:
You can name more than one attorney-in-fact if you believe that different people will better handle certain decisions or transactions. You may also name a fiduciary, such as an accountant, lawyer, or other professional as your attorney-in-fact if you wish. Does a Power of Attorney need to be notarized?Notarization requirements for Power of Attorney vary by state. Some states require only two witnesses or a notarization, whereas some states require both. If your state requires your POA to be notarized, our questionnaire will include a section at the end of your document for notarization. You can also notarize your Power of Attorney using an online notary. How do I process a spa in the Philippines?5 steps on how to process your Special Power of Attorney (SPA). Prepare SPA. Self-preparing. ... . Notarize SPA. Have your SPA notarized by visiting Notary public.. Authenticate SPA. By going to Official Document Services (ODS) and having your SPA authenticated.. Consularize SPA. ... . Send to the Philippines.. How do you use special power of attorney?Have the document ready. The name and address of the principal.. The ID, physical address, and agent's details.. A reason to get the SPA.. Date and the place where one will sign that form.. The principal's signature.. The principal's name, identification number, and the ID expiry date.. How do I get a special power of attorney in the Philippine Embassy?How to File for a Special Power of Attorney. Ask your representative from the Philippines to prepare the Special Power of Attorney then have it signed and notarized by your representative. Once notarized, ask your representative to send you the SPA.
How long is the validity of special power of attorney in the Philippines?However, the Special Power of Attorney is already expired as it is indicated in the document that its validity is only one year from the date of the sale of the property to my seller.
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