Although most people have heard about it, they do not really understand what the “Power of Attorney” is. In essence, it is the legal document that allows a person to appoint another for a special reason. In most cases, the reason is related to any financial decision or the signing of financial and legal documents. The Power of Attorney is also widely used by disabled, sick and elderly people to authorize someone else to handle their affairs.
Chrome Realty can assist you in acquiring a Power of Attorney document without going through multiple bureaucratic procedures. The form can be found on the Internet or you can buy legal software from an office supply store and print it yourself. In most states, including New York, you can fill the name of the individual you want to designate and sign the document, then it gets stamped and approved by the legal authorities. What demands attention, is that the document must be signed in the presence of a notary in order to be notarized.
Even when the document is signed, it is not binding authorizing that person to control your financial affairs forever. At any time, you can revoke the document either there is a specific reason or for no reason at all. You can give your agent the power to deal with everything regarding yourself, or you can provide limited power allowing specific actions you want them to be eligible for. The more specific you are with the document, the more time it will take to create; the level of detailed and extensive the document is, is what takes the time for it to be admitted and signed.
In addition to the power granted, it can be identified the timeframe that the document will be valid for. It can either take effect immediately, or after a certain time period, or it can even be specified that the document will be activated after a certain action takes place. For example, a person can use the Power of Attorney to preset that if ever involved in an automobile accident and incapacitated, the document will immediately kick into action.
Keep in mind that the main risk related to this document, is accountability. As long as the document is legally in force, there is limited control over what the person does, unless it is clearly stated specifically since the document was signed. This demands the attention of mindfully choosing an individual of trust; if this is not the case the authorization must be given under time, power and accountability constraints.
Chrome Realty is an established business established to assist the Greek Community deal more easily with all kinds of legal obligations, including of course those of the Power of the Attorney.