A power of attorney is a public document that an individual or legal entity signs with the approval of a notary to designate another person as their legal representative. This authorizes them to act on their behalf in various legal or material acts.
This measure is ****very useful for various life situations**** and more specifically for resolving some bureaucratic procedures in the business world.
With these documents, notaries ensure that the identity of the person granting it, called the ***grantor, as well as their wishes, comply with the law. For their part, the person designated as legal representative or attorney-in-fact must***_ _accredit this status by presenting a copy of the authorization granted.
We differentiate between different types of powers of attorney:
General Powers of Attorney:
These are deeds by which one person confers all possible powers to another to manage their entire estate. This type of power of attorney is characterized by its very broad powers, which poses a risk.
Special Powers of Attorney:
These are deeds by which one person confers powers to another to carry out one or more specific acts. This type of power of attorney is characterized by its limited powers, for example, they can only buy, sell, make inheritances, etc.
Powers of Attorney for Litigation:
This is a notarial document by which a person grants representation powers in court to their lawyers and legal representatives.
Travel Authorizations:
When minor children travel abroad without being accompanied by their parents or guardians, the trip can be authorized through this notarial document, which the minor must carry along with their ID or passport.
Preventive Powers of Attorney in Case of Incapacity:
These are powers of attorney in which a person confers powers to another to do whatever is necessary in case the grantor becomes incapacitated in the future. It is a very useful tool to avoid problems when one gets older.
Commercial Powers of Attorney:
These are powers of attorney granted by a company, through its administrator, to a person who will thus be able to handle one or more commercial operations on behalf of the company.
Documentation Required:
General Powers of Attorney:
ID card of the grantors, name, address, and marital status.
If it is a company, valid powers of attorney or appointment of administrators.
Details of the attorneys-in-fact, name, address, marital status, and ID card.
Powers conferred (For what matter is the power of attorney granted).
Powers of Attorney for Litigation:
ID card of the grantors, name, address, and marital status.
If it is a company, valid powers of attorney or appointment of administrators.
Names of the legal representatives and lawyers and the Bar association they belong to. (Important.